Lebanon sits at the center of the Middle East and the crossroads of three continents, with a population of 4.6 million people, a middle-income economy, and a liberal economic system. As a result, it has become a true regional and international commerce, financial, services, cultural, and tourism center.
Lebanon is viewed as a desirable business destination by many investors and entrepreneurs. The existence of real opportunities in the Lebanese market, as well as the free market economy, sophisticated banking system, and availability of trained workers, are all strong incentives.
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Key Reasons for Choosing Lebanon as Business Destination
· A key geographical location as a transshipment hub between several Arab countries and the rest of the world.
· Lebanon has the most liberal investment climate in the Middle East and is regarded as one of the freest economies in the region and internationally, with the government taking a noninterventionist approach to private investments.
· Lebanon's liberal financial climate, which includes a free-market exchange rate, is well-known.
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· Investment Incentives: As part of its goal to attract investments to growth-oriented sectors, the government of Lebanon offers a variety of incentives to both domestic and foreign businesses. Various ministries and government agencies offer a variety of tax advantages and exemptions to help businesses get started and operate. The IDAL website has more information on the incentives provided throughout productive economic sectors.
· Nondiscriminatory and Efficient Legal Framework: Lebanon protects private property and rights while ensuring equality between Lebanese and non-Lebanese citizens.
· Human resources: Lebanon's workforce is noted for being young, well-educated, and multilingual (Arabic, English, and French). With a trained and resourceful team, labor costs are cheap.
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· Rebuilding Syria: Lebanon will serve as a hub for the reconstruction of Syria, as well as the transit of goods into the region, and is now regarded as one of the most secure countries in the region.
· Oil and Gas: The future looks bright due to several variables, including offshore oil and gas reserves, which will have a big impact on the economy.
· Quality Health Care: Medical facilities, clinics, and pharmacies, both public and private, are available across Lebanon, and they are usually well equipped, especially in urban areas, with qualified and competent doctors and English/French-speaking personnel. Private hospitals are generally great, with the most up-to-date equipment and technology.
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· Rich History and Culture: Lebanon has long served as a crossroads for numerous cultures and civilizations, making it a highly cosmopolitan country.
· High Quality of Life: Throughout the year, Lebanon offers a diverse range of tourism attractions and activities in natural settings ranging from stunning beaches to mountains and valleys. Lebanon functioned as the MENA's business, cultural, academic, and touristic center thanks to its welcoming atmosphere.
· Lebanon as a crossroads: The Lebanese Diaspora has a long history of successful entrepreneurs and business people in a variety of industries and circumstances. They are regarded as "wealthy, well-educated, and powerful." The Lebanese diaspora has used their Lebanese identity to build strong networks to help each other out throughout history, and many have used them to develop a productive and profitable activity. However, there is still a lot of untapped potential for more collaboration and cooperation between the diaspora and the Lebanese in their home country.
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· Corruption is a factor to be wary of in terms of transparency. In recent years, however, Lebanon has seen the rise of various new anti-corruption campaigns, raising awareness of the scale of the problem. The new Lebanese administration has made fighting corruption a top priority, appointing an anti-corruption minister for the first time. Nicolas Tueni, the State Minister for Combating Corruption in the Lebanese government, has called for an uprising against corruption in Lebanon and praised President Michel Aoun and Prime Minister Saad Hariri's efforts to combat it.
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