>> The local hospitality scene in Lebanon witnessed the addition of a new luxurious destination in Beirut with the soft launch of "Le Dix", the latest development by Saudi-based Al Shegrey Investment Group. This luxurious development, located on General Charles De Gaulle Avenue in Raouche, was funded by more than 25 million USD and aims to offer deluxe personalized services to its clientele.

>> A call for enhanced economic ties between Lebanon, Turkey and India was made during a Lebanese-Turkish-Indian forum recently held in Beirut grouping officials and businessmen from all three countries. 

Mutual benefit can be achieved between the three countries in numerous economic sectors (construction, ICT, banking) and Lebanon can provide Turkish and Indian products with access to neighboring Arab markets. Turkish investments in Lebanon have previously been made in health care, education, electro-mechanical services and real estate construction and sales.

For more information on investment prospects in Lebanon make sure to contact our team.

Given the importance of the industrial sector in promoting economic growth and job creation and considering both the low level of investment in industry compared to other economic sectors and the decreasing sector contribution to GDP (from 8.8 to 7.5 percent in the 2007-2009 period), identifying issues hindering industrial investment was identified as a priority. A preliminary meeting was held in that regard between the President of the Association of Lebanese Industrialists Mr. Neemat Frem and an IDAL delegation headed by its Chairman. 

Discussion revolved around reinforcing industrial investments in Lebanon along with developing new incentives and defining new sub-sectors that can promote Lebanese industry. All of the aforementioned will take center stage as part of the ongoing efforts to update Investment Law No.360.

A series of workshops followed with representatives of key industrial sub-sectors including Chemicals, Electrical Machinery, and Textiles, producing clothing, electrical networks, paints and pharmaceutical products among others. The aim of these workshops was to further understand the needs of the various sub-sectors in regards to the effectiveness of fiscal and financial incentives in improving  competitiveness.

Lebanese media professionals are sought after in the Middle East and around the world for their high education and skill level, creativity and committed dedication to their craft.

There are around 400 local companies engaged in media-related activities in television, radio, print and film in addition to advertising and digital media services.

With minimal to no restrictions on broadcasting/publishing activities, picturesque locations and proximity to the regional Arab market, Lebanon is one of the best locations for media production, operations and investment in the Middle East.

Diverse offerings with strong investment potential

>>Print industry

Nearly half of all print publications circulating in the Middle East are produced in Lebanon; the country scores highly in terms of newspaper concentration with 15 dailies and 4.8 titles per adult, the regional average being of only 1.1. Specialized magazines are increasingly being published as well, catering for diverse topics such as sports, technology and economy in Arabic, French and English.

 >> TV production 

Lebanon has a strong television penetration rate at 93.4 percent with over 10 terrestrial channels; these act as an important advertising platform with an estimated total at 105 million USD, expected to reach 119 million USD by 2013. Lebanese channels have a strong presence in neighboring countries as well.

>> Film production

The Lebanese film industry is returning to the limelight as well with internationally-acclaimed directors such as Philippe Aractinji (Bosta, Under The Bombs) and Nadine Labaki (Caramel, Where Do We Go Now?). 

Web drama production is an additional niche market emerging to international acclaim, with the Shankaboot series recently winning the 2011 Digital Emmy award in the Fiction category.

>> Post-production

Advanced media support services are also provided by production and post-production services covering commercials, documentaries, music videos, feature films, radio commercials and photography; a 4.1 million USD investment was recently mediated by IDAL to help establish Front D'Or, a post-production company specialized in television and music content.

>> Advertising

As for advertising, its expenditures in Lebanon currently total 241 million USD per year and are expected to reach 280 million USD by 2013, with creative and media buying agencies handling client accounts for the entire region out of Beirut. Major international players having secured a presence in Beirut include Leo Burnett, BBDO, M&C Saatchi, TBWA and JWT among others.

For more information on investments in the Lebanese media sector, contact us to schedule an appointment with our experts or check our investment incentives booklet.

With the aim of boosting the image of Lebanon as a worthy investment destination, IDAL took part in the First Arab-International Forum for Young Entrepreneurs and Businesspersons recently organized in Beirut by the L.I.B.A.N. business network. A "Doing Business in Lebanon" session was led by the IDAL Chairman where investment prospects in the country were discussed.

LEBANON: ACTIVELY SHAPING GLOBAL ENTREPRENEURSHIP WEEK