Saturday, November 28, 2009

Lebanese PM Hariri: Now is the best time to invest in Lebanon


Lebanese Prime Minister Saad Hariri says the stability that Lebanon has achieved makes it a key country for Turkish investors, noting that “if there were ever a prime time for Turkish businessmen to invest in Lebanon, that time is now.”

Speaking to the press at a meeting of the Association of Mediterranean Chambers of Commerce and Industry (ASCAME) in Beirut yesterday, Hariri revealed that diplomatic relations between Turkey and Lebanon are good and that the instability of the last four years has been overcome by a government that aims to support both Lebanese and Turkish investors in the two countries.

The prime minister highlighted the surge in travel between Syria and Turkey after visa requirements were eased and said once his newly formed coalition government obtains a vote of confidence from parliament, they will work toward removing visa requirements between Lebanon and Turkey. Noting that he wants to increase the number of tourists traveling between the two countries, Hariri stated that the next step besides eliminating visa requirements is increasing the number of flights between the countries and decreasing the costs associated with traveling.

Speaking on the specific fields that Turkish businessmen can invest in, Hariri said: “Privatization is currently taking place in the energy, telecommunication and public transportation [sectors]. Besides these fields, there are many fields in which we can form cooperative business agreements with Turkish businessmen.”

Speaking on the Hariri family’s investments in Türk Telekom, Hariri noted that after the assassination of his father, Rafiq Hariri, he became a partner in Türk Telekom but that he had not yet taken up a position on the executive board. He said: “Türk Telekom is a great investment. On this note, Turkey is a big market for us with lots of potential. … Turkey has an increasingly important role in the region and has a positive impact on the stability of the region. For these reasons, we will support every investment between Turkey and Lebanon.”

On a free trade agreement between Turkey and Lebanon, Hariri noted that after obtaining a vote of confidence, one of the priorities for his government would be to work on achieving a free trade agreement between the two countries. Noting that along with working on this agreement that would boost economic and diplomatic ties, Hariri highlighted that Lebanon has been experiencing a serious energy problem and that only 60 percent of Lebanese citizens received, at best, intermittent access to electricity.

Concluding his remarks, Hariri revealed that even though Lebanon had grown during the global economic crisis, it was important to sustain this growth with investments as well as economic and legal reforms. Speaking about other cooperative agreements that his government had planned, Hariri noted that they were thinking of working with Gulf countries in various privatization projects. The ASCAME meeting, which took place in Beirut, was also attended by İstanbul Chamber of Commerce (İTO) chairman Murat Yalçıntaş, who was re-elected as the president of ASCAME.

Article Source:todayszaman.com

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