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Industry Insurance Condition for Licensing, Sabounjian Says.

Minister of Industry Vreij Sabounjian stressed that any company seeking to open a factory in Lebanon must have an insurance coverage in order to get a permit from the ministry.

 

The minister made these remarks during a joint news conference with the president of the Insurance Association Assaad Mizra.

"I have called for this news conference to announce that any factory must have an insurance policy in order to receive a permit from our ministry as of June of this year. The new conditions for the permit have been issued in the national gazette. This insurance policy is mandatory to protect the factory from fire and other accidents," Sabounjian explained.

 

He added that the other reason behind this insurance is to protect the workers in the plant.

The minister insisted that this action adopted by the government should not be considered as an attempt to put financial pressure on the owners of factories in Lebanon.

 

"We are doing this for the interest of both the factory owners and employees."

Sabounjian added that the ministry adopted this measure following a series of fires that destroyed factories in the past few months.

The minister called on all factory owners to cooperate with the ministry and insure their plants for their own wellbeing.

"Our ministry encourages the owner of every factory in the country to step forward so we can study his file carefully and help him meet all the conditions," Sabounjian said.

The minister revealed that the government is pressing the municipalities to ensure that all factories in their areas comply with the new decision.NNA

 

Beirut

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