Loading

Amending Investment Law to Boost FDI

 A set of amendments to the 10-year old Investment Law No. 360  have been submitted by a ministerial committee submitted to the Cabinet, with the aim to meet the current needs of the Lebanese economy and increase FDI in the country, as reported by lebanon This Week, Byblos Bank newsletter.

The amendments stipulate a set of criteria that projects must meet in order to benefit from investment incentives and exemptions provided by the Investment Development Authority of Lebanon.

 

The criteria include the size of the investment, the sector and sub-sector of the project, the project's location, the impact of the project on the environment and on natural resources, and the project's economic and social impact in terms of number of jobs created.

The targeted sectors include agriculture, agro-industry, tourism, manufacturing, general technology, information technology, telecommunications, and the media. It noted that projects that intend to benefit from the incentives and exemptions must have a minimum investment size that depends on the location.

For instance, the minimum size of the investment in plant and animal farms ranges between $0.3m and $0.8m; that for packaging centers and cold storage projects at $0.8m to $1.5m; agro-industrial projects at $1m to $2m; telecom-related projects at between $0.2m and $0.3m; and a minimum of $0.2m for investments in general technology.

 

In addition, the amendments aim to develop the agricultural and agro-industrial sectors and their exports, support rural development, support three-, four- and five-star hotels across the country, develop sectors that can provide value-added, improve the business environment through upgrading the telecom infrastructure, support software development firms, transform Lebanon into a regional media center, transform Lebanon into a regional provider of quality health care, and support export-oriented sectors.

 

MORE CLOSER LOOK ARTICLES

Following a new round of qualification, the LCEC...
The Ministry of Energy and Water has launched a...
Following the bidding process launched four...
The renewable energy sector employed 9.8 million...
As part of the national plan launched by the...
·       
At the upcoming International Beirut Energy Forum...
The Italian Ministry for the Environment, Land,...
On Tuesday, 16 May 2017, the contact persons of...
Leading by example, the Ministry of Energy and...
The Lebanese Ministry of Education and Higher...
 In collaboration with the UNDP CEDRO...
The Lebanese sustainable energy market is...
·       
The United Nations Climate Change Conferences are...
Beirut

Migration to cities is increasing so much that, by 2050, the UN predicts that approximately two thirds of the world’s population will be living in cities.

ECO INITIATIVES

  • A fundraising event, entitled Think Green, will be held by Zero Waste ACT for all its business members on September, 10,2013, at WHITE, Dora.
  • The Green Mind Association invited all Green Mind Award Participants, finalists, runner ups and winners to the GREEN MIND DAY on  Jan-16-2013 in Beirut, to create a platform where interested Venture Capital and Potential Investors met with participants.
  • A green initiative launched by Ashrafieh 2020 project aims to transform Ashrafieh into a tranquil and unpolluted area.Green spaces allow residents to walk and ride bicycles.

STAY CONNECTED WITH EECOY.COM

 

MOST VISITED ARTICLES

  1. Moody’s Investors Service indicated that the high level of Central Bank reserves is...
  2. In 2010, the country’s Gross Domestic Product (GDP) grew by 8 percent. The economic forecast...
  3. The General Labor Confederation (GLC) warned that the increase of the value added tax (VAT) rate...
  4. Finally, the electricity bill law is approved by the Lebanese parliament. A draft law allocates $1....
  5. Will the government raise the minimum wage?A scenario, some experts expect will result in layoffs...

UPCOMING EVENTS

Member login

Request new password