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Making Business Your Business. More Support On The Way

Are you ready to start your dream business?The Lebanese government seems adamant to give a hand. The Investment Development Authority of Lebanon (IDAL) has recently organized a workshop entitled, "Supporting start-up and innovative businesses in Lebanon,” at the Grand Serail.

 

The workshop focuses on the commitment of the Lebanese government to support business start-ups and encourage innovation as a key element in economic growth, in addition to exchange experiences with the new generation of World Accelerators. It also aims to develop recommendations to be taken at short and medium term in order to enhance the business climate in Lebanon.

 

Nabil Itani, head of IDAL declares that the focus on the technology sector is vital especially since it constitutes the most important infrastructure for all sectors and businesses, especially innovative ones. He said that the investment promotion law in Lebanon, attaches particular importance to emerging businesses and small and medium-sized sector, especially in the information and communication technology fields, due to its importance and its impact on the economy in general.

He said that IDAL the support of emerging businesses seems to be more practical in the amendments to the investment promotion law and decrees, especially by reducing the criteria for projects to benefit from tax exemptions, which can be up to 100 percent on income tax for a ten-year period. Itani explained that IDAL will be involved in financing incubators in the field of advanced technology, information technology and communications, pointing out that the work is currently focusing on this subject, to give a major boost for the incubators and new generation.

 

Photo: Perfecto Insecto

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