Lebanon and Syria push economic reset with Damascus investment conference planned
Lebanon and Syria have agreed on a series of measures to revive economic ties, with a bilateral investment conference planned for the autumn in Damascus. Amer Bisat, Lebanon’s Minister of Economy and Trade, described the restoration of ties between the two countries as a “win-win”. He told The National in an interview that his meeting with the Syrian President Ahmad Al Shara and his counterpart,…
Lebanon and Syria have agreed on a series of measures to revitalize their economic ties, with an investment conference planned for the autumn in Damascus. Lebanese Minister of Economy and Trade Amer Bisat sees the restoration of ties as a "win-win" opportunity. The two countries began repairing their relationship after the Assad family's half-century-long rule and Syrian military occupation ended.
The investment conference will focus on boosting private-sector links, government-to-government deals, and logistical and technical issues such as visas and import fees. Lebanon is currently struggling with a $70 billion economic crisis, an insolvent banking sector, and depleted state finances. The conference aims to help Lebanon rebuild its devastated south and relaunch its economy, potentially attracting US investors due to its large diaspora and strong business presence.
However, political, stability, and the end of the war are prerequisites for such investments. Lebanon has reached a staff-level agreement with the IMF for $3 billion in funding, but lacks implementation of required reforms due to political deadlock.
Written by urgent.news from The National Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
