Plans following the global financial crisis
The Government approved a two-year plan to mitigate its impact on the Lebanese economy. The plan intended to inject liquidity in the market to stimulate private and public investment and support employment. In terms of liquidity injection, the plan indicates the various measures already taken and the retroactive salary increase in the public sector the payments of indemnities from the July 2006 war, and the Government payment to hospitals and contractors would help generate total liquidity equivalent to 10 percent of GDP and support local consumption without leading to massive inflation. It also pledged to accelerate the ratification of draft laws to release soft loans of about $600 million earmarked for finance public projects.
IDAL plan The Investment Development Authority of Lebanon (IDAL) has unveiled a plan to promote investment in Lebanon. The plan will try to promote investment opportunities targeting Lebanese expatriates in order to benefit from their expertise in different fields as well as to amend legislations that will encourage expatriates’ capital inflows to Lebanon. IDAL is offering its Package Deal Contract (PDC) program where qualified projects benefit from a series of tax exemptions, free reductions and facilities.
IDAL’s program provides incentives in industry, agriculture, tourism, technology, agro-industry, telecommunications and media. The incentives include full exemptions from income and dividend tax for up to 10 years, reduction of work and residence permit fees of up to 50 percent, and construction fees up to 50 percent.
IDAL extended a series of investment incentives to the Staybridge Hotel project.
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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.