If industrial exports are on the rise, what are the main challenges?
Lebanese industry was expected to reach a record expect in terms of exports by the end of 2010. The predictions have been proved to be true.
Industrial exports totaled $4,059 million, an upsurge of 21.9 percent from 2009.
The Lebanese industrial sector has shown resilience despite the challenges it has faced in recent years. According to Bank Audi's Lebanon economic report, the value of imports of industrial machinery reached $209.4 million in the first eleven months of 2010, a rise of 15.2 percent from the same period in 2009, reflected the activity of investment made in the sector industrial activity. “This indicates an upsurge in industrial activity or plans to intensify industrial activity in the country.” In 2010, the industrial sector accounted for 38.7 percent of total loan guarantees, extended to small and medium-size companies under the guarantee of Kafalat amounted to $169.4 million in 2010.
However, if the real competitive advantage in Lebanon’s industrial sector is the human element, future challenges are not scarce. The industrial sector has to be well prepared to face competition in addition to the changes that are going to take place following Lebanon's signing of trade agreements with the World Trade Organization.
Still, demands for a decrease on customs duties on raw material imports and a reduction of production costs mainly electricity charges are still falling on deaf ears.
STRATEGIES & PLANS
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.