|Lebanon: a regional center for technology ?
|The US Commerce Departmentís 2009 Country Commercial Guide for Lebanon (CCG) highlighted the countryís favorable investment climate and its liberal economic system as reported by Lebanon This Week, the economic publication of the Byblos Bank Group.
It said the country has very few restrictions on the movement of capital across its borders, foreign investors are allowed to manage and hold business and private assets without any restrictions, and the government does not require investors to engage in any particular sector or project.
It noted that Lebanon is an ideal location for establishing a regional office to cover the Levant.
The guide noted that Lebanon has among of the best educational systems in the Middle East with 160,300 students enrolled in universities throughout Lebanon and over 1,800 Lebanese students studying in the US.
In parallel, the US Commerce Department considered the Information & Communication Technology (ICT), pharmaceuticals and insurance sectors as offering the best prospects. It said Lebanon has the fundamental building blocks needed to become a regional center for technology that include a highly educated and multilingual workforce, a strong private sector, world-class advertising firms, and multi-lingual media-content providers and web portals.