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The country enjoys a free-market economy, although US ratings agency Moody’s recently downgraded its B1 standing from stable to negative. In 2001, the Investment Development Authority of Lebanon (IDAL) was established to encourage investment in the country, offering tax breaks and a series of exemptions to companies upon both set-up and operation. Foreign investment is not restricted and the economy’s main areas of strength include banking and tourism. The average time taken to start a business in the country is nine days, according to IDAL.

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A delegation from the Board of Directors of the Tripoli Special Economic Zone, headed by former Minister Raya al-Hassan visited Prime Minister Tammam Salam in Serail.

The delegation included five members: Antoine Habib, Wassim Mansouri, Ramzi El Hafez, Antoun Diab, and Asheer El Dayeh.

During the meeting, the delegation presented the preparations for the start of the project, and thanked H.E for his continual support.

The delegation also discussed the economic situation in Tripoli and ways to address its problems.
June 2015

 

 

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