Middle-east Arab News Opinion | Asharq Al-awsat

Lebanon Looks to Investment Partnerships with KSA in Petrochemicals, Industry, Leisure | ASHARQ AL-AWSAT English Archive 2005 -2017
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The Kingdom Tower stands in the night above the Saudi capital Riyadh November 16, 2007. (REUTERS Ali Jarekji)

Riyadh- The Lebanese Labor and Investment Council in Saudi Arabia said it was looking forward to increasing investment partnerships between Riyadh and Beirut in the sectors of health, services, petrochemicals, industry, leisure and tourism.

It added that the resumption of “Flynass” flights to Beirut would enable the business sector in both countries to implement qualitative partnerships and encourage tourism in Lebanon.

In remarks to Asharq Al-Awsat newspaper, Rabih al-Amin, the council’s secretary said: “We need a Lebanese economic vision that simulates Vision 2030 and Saudi Arabia’s visionary programs, and that benefits from the stability of the Kingdom, under the aspirations of Prince Mohammed bin Salman, who is one of the pillars of stability and prosperity in the Kingdom and the Arab region.”

Al-Amin noted that major opportunities await the Lebanese investors, especially with the adoption of Saudi Vision 2030.

In this regard, he stated that promising opportunities included investments in the sectors of health, services, petrochemicals, industry, leisure and tourism.

However, the official warned of geopolitical circumstances, which might have an impact on the regional situation and would negatively affect progress on the Lebanese arena.

He noted that since the last visit of the Lebanese President Michel Aoun to Saudi Arabia, “some Lebanese officials did not invest in this visit and its outcome in a way that serves the interest of Lebanon”.

He also praised efforts deployed by the Saudi Chargé d’Affaires in Beirut, Walid Boukhari, who he said was able to build a distinguished presence through activities and initiatives of the embassy in Beirut, including the establishment of the Saudi Lebanese Business Center.