The Association of Lebanese Industrialists (ALI) hosted this afternoon a ministerial, parliamentary and industrial meeting for the support and protection of productive sectors, chiefly the industrial sector.
The Minister of Industry, Mr. Wael Bou Faour, MPs Neemat Efram, Michel Al-Daher, Nazih Najm, Michel Mouawad, Nicolas Nahas, Mohammed Suleiman, Shawki Al-Daccache, Hagop Terzian and Roger Azar attended the meeting along with the association’s President, Dr. Fady AL-Gemayel, and Board of Directors.
After the meeting, Gemayel stated: “We industrialists, have today a historic responsibility as the Parliament debates Lebanon’s budget, pivotal for the country’s future. There is a new willingness to explore Lebanon’s capacities. Indeed Lebanon has high potential and capacities represented in Lebanese creative youth and industrial sector”.
Five years ago, the public debt was fifty-five billion dollars. Today it reached eighty-six billion dollars. Exports in 2011 were estimated at four and a half billion dollars and fell by two billion dollars at present day. The industry has genuine capacity to dynamically stimulate the economy as a whole.
This is confirmed by the McKinsey report that stressed the role and importance of industrial and agricultural production sectors. We have achieved a lot today. Specific tariffs on twenty goods were adopted; an ordinary procedure in other countries, but in Lebanon, it is quite an achievement. The MPs are discussing austerity budget. Still, this budget can be stimulating for the industrial sector and all other complementary sectors of the economy”.
Gemayel added that reducing trade deficit by one billion dollars secures twenty thousand jobs directly and forty-four thousand jobs indirectly, according to reports from the United Nations Development Organization (UNIDO).
“We want to contribute to creating opportunities for growth. The development of the industrial sector contributes to the development of the agricultural sector as well as tourism, trade and other sectors,” he said.
Minister Abu Faour stated the points agreed upon at the meeting:
- To form a parliamentary bloc supporting the industry and other productive sectors. This bloc will cross through other parliamentary blocs, and work on securing citizens welfare through means and mechanisms that help create jobs opportunities, social and economic development.
- To participate in the financial and economic debate in the parliament from the Lebanese industry viewpoint.
- To continuously provide and support the industry by including new anti-dumping protectionist decisions within the budget.
- To secure energy financing for industrialists by allocating a share of the returns that will be collected through the newly imposed specific tariffs or other measures.
- To follow-up and include additional balancing items, provided that such items do not incur any additional financial burdens [on the government] but can instead spur industrial development.