Lebanon National Investment Reform Workshop

Beirut 19 April 2007

H.E. Jihad Azour and Mr. Rainer Geiger

The National Investment Reform Agenda Workshop (NIRA) for Lebanon, jointly organised by the Ministry of Finance of Lebanon and the MENA-OECD Investment Programme, took place on 19 April, 2007 at the Grand Serail in Beirut. This was the sixth in a series of NIRA workshops organised by the MENA-OECD Investment Programme to support the investment reform priorities of participating MENA countries.
The participants included Lebanese representatives from public administrations, business sector and civil society, donor community and international organisations, as well as national and OECD experts.  The meeting was hosted by the Prime Minister's office at Government Headquarters (Grand Serail) and opened by the Ministers of Finance and Economy and Trade, H.E. Jihad Azour and H.E. Sami Haddad, who - together with the Head of the MENA-OECD Investment Programme, Mr. Rainer Geiger - presented the key elements of Lebanon reform plan and the items in workshop’s agenda, selected to reflect the priorities for the Government of Lebanon, particularly in the area of investment policy reform.

Accordingly, the first session focused on the available investment opportunities in Lebanon, focusing on the privatisation process, with particular regard to the telecommunication sector. The second session highlighted the need to improve the investment climate through legislative reforms, particularly those related to administrative barriers, competition, public procurement and financial markets. The importance of an adequate legal framework on competition was particularly emphasized, given its role in enhancing the investment climate in both developed and developing economies. The third session focused on the improvement of tax and fiscal system, through the development of administrative procedures and competent authorities; current reforms have been discussed, in Lebanon as well as in other countries in the MENA region (such as Egypt) and OECD. The final session discussed enterprise financing and access to credit for the private sector, presenting current initiatives in Lebanon to ease financing constraints, in particular to support SMEs in the aftermath of the summer war.

The workshop conclusions noted the need of reforms in Lebanon to revitalise the economy and create more business opportunities for both domestic and international investors. To this end, the cooperation of the Government of Lebanon with the MENA-OECD Investment Programme will continue focusing on four key areas: 1) regulatory reform, privatisation and competition; 2) transparency and integrity in public procurement; 3) taxation and fiscal policies; 4) enterprise financing

Presentations

Session I : Business perspectives and opportunities. 

Session II : Enhancing The Business Climate Through Legal Reforms.  

Session III : Towards a Modern Tax Framework.  

Session IV : Improving The Entrepreneurial Finance: Venture Capital and SMEs Access To Credit.