Arab Today, arab today saudi investments in lebanon total about 45bn
Last Updated : GMT 10:54:19
Arab Today, arab today
Arab Today, arab today

Saudi investments in Lebanon total about $4.5bn

Arab Today, arab today

Arab Today, arab today Saudi investments in Lebanon total about $4.5bn

Beirut - Arabstoday

The 7th two-day Saudi-Lebanese Economic Forum is being held with the support of Lebanese Prime Minister Najib Mikati, which ended yesterday. Its participants included 500 senior officials, economists, investors, major bank managers, heads of chambers of commerce and industry, and businessmen from both countries. The officials attending included Minister of Trade and Industry Tawfiq Al-Rabiah and Lebanese Minister of Industry Vrej Sabounjian. Saudi investments in Lebanon total about $4.5 billion, and the number of Lebanese citizens in the Kingdom is estimated between 150,000 and 200,000, of whom 600 are investors, compared to around 2,500 Saudi investors in Lebanon. The forum is the result of much work by prominent economists and investors as well as government agencies to launch initiatives aimed at strengthening the economic ties between Saudi Arabia and Lebanon. It provides an opportunity for Saudi and Lebanese businessmen to meet, discuss and promote cooperation between them through work sessions and bilateral meetings on common trade and investment projects. Saudi attorney Khalid Alnowaiser presented a working paper titled \"The Role of Saudi Legislations in Promoting the Investment Environment,\" which discussed the major steps taken by the Kingdom to overcome the obstacles that hinder foreign investments and encourage local investments. He discussed the establishment of the Supreme Economic Council, under the chairmanship of the Custodian of the Two Holy Mosques King Abdullah, which is tasked with developing the economic policy of the country, the establishment of the General Authority for Investment, and the accession of Saudi Arabia to the World Trade Organization. He further highlighted the country\'s progress in developing the judiciary system, guaranteeing its independence, and promoting judges\' competences. Of additional interest to foreign investors, the Kingdom has been working on new legislation for the Saudi arbitration system, the issuance of the foreign investment system, and the property ownership system for non-Saudis. Alnowaiser also listed several obstacles faced by the Saudi investment process, such as bureaucracy, the need to update some legal systems, the delay in the issuance of work permits in some sectors, slow procedures for the issuance of customs licenses, and the ongoing issue of importing skilled labor. He pointed out that, despite the Arab Spring, Saudi Arabia remains in fact the best investment environment in the Middle East compared to many countries due to its stability at all levels. Finally, he suggested several ways to activate the investment process and promote a better investment climate, such as the establishment of a court specialized in the investment disputes between investors and the state or between the investors themselves. Such a court would speed up judicial proceedings; remove investment barriers by issuing new regulations that motivate investment and investors, and develop government agencies\' performance.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saudi investments in lebanon total about 45bn Arab Today, arab today saudi investments in lebanon total about 45bn

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today As Olympics loom, China plunges into snow biz

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom, China plunges into snow biz
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues

GMT 05:34 2017 Monday ,27 February

Brexit sows seeds of doubt for British farmers

GMT 06:38 2017 Sunday ,26 February

US rig count increases

GMT 06:01 2017 Sunday ,26 February

BRIC funds see inflows amid emerging equity boom

GMT 05:43 2017 Sunday ,26 February

Al-Gergawi quits Dubai Holding to focus on govt role

GMT 05:14 2017 Sunday ,26 February

Oil prices to average $50-$70 through 2022

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday