Marcopolis presents the Lebanon Report focused on the investments, doing business, economy and other topics featuring interviews with key executives and government officials. The sectors under review are industry, telecom, banking sector, ICT, investments and more.
IDAL was established in 1994 by a decree from the Lebanese Council of Ministers to spearhead Lebanon's investment promotion efforts.
On August 16, 2001, IDAL's role was reinforced by the enactment of the Investment Development Law 360, regulating investment promotion of domestic and foreign entities and striving to stimulate Lebanon's economic and social development as well as enhance its competitiveness.
IDAL's mission is to promote Lebanon as a viable investment destination and foster, facilitate and retain investments in the country.
Scope of Work
IDAL's scope of work entails the following functions: Identifying and promoting investment opportunities in Lebanon; Disseminating market intelligence about Lebanon, the business, legal and investment frameworks as well as other relevant information; Facilitating the registration and issuance of permits and licenses required for any investment project; Identifying potential joint venture partners and strategic allies for Lebanese businesses; and Advising the Lebanese government on investment policy issues.
Nabil Itani Chairman - General Manager
Born in 1953, Mr. Nabil A. Itani is Chairman and General Manager of Investment Development Authority of Lebanon (IDAL), Lebanon's national investment promotion agency. His career spans over three decades of professional achievement, significant contribution to the architectural profession, and diligent service to his native Lebanon. An accomplished architect and architectural consultant, his professional experience is wide-ranging and far-reaching, encompassing design and supervision of landmark projects in Lebanon and the Arab World, as well as prestigious affiliations, academic posts, publications, and conference presentations. His valuable contributions in official committees and in the drafting of major proposals have had positive ramifications on investment, architectural, and administrative practice in Lebanon.
Top 10 Reasons to Invest in Lebanon
1. Strategic Location Lebanon's central location at the intersection of Europe, Asia, and Africa makes it a regional and international business hub with global market access.
2. Free Market Economy Lebanon's free-market economy and laissez-faire commercial tradition welcome foreign investment with no restrictions on payments and transfers.
3. Liberal Financial Environment Lebanon's financial sector is one of the region's most liberal, with transparent Laws and regulations, and few restrictions on bank formation.
4. Banking Secrecy The banking sector as a whole is the entry-point for capital influx for the region's development, with the banking secrecy that drives capital inflow into the country.
5. Favorable Taxation & Fiscal Incentives With a 15% corporate tax rate, Lebanon's fiscal charges are among the lowest, and initial investors receive temporary fiscal exemptions.
6. Non-Discriminatory Legal Framework Lebanon's strongly developed legal framework protects private property and grants Lebanese and foreign investors equal rights.
7. Competent Human Capital & Low Labor Cost Lebanon's workforce remains a unique asset with its entrepreneurial, educated, flexible, multilingual, and multi-skilled human resources.
8. Quality Health Care & High Education Lebanon abounds with world-class, state-of-the-art medical centers, and prestigious higher learning institutions to suit every need.
9. High Quality of Life & Smooth Weather A Mediterranean climate with 300 days of sunshine a year conspires with a cosmopolitan culture to make Lebanon a place to call home.
10. Rich History & Culture Lebanon's ancient culture crossroads layered with civilizations has always served as a regional banking center and an axis for Middle East trade and business initiatives.
The objective of the One-Stop-Shop (OSS) is to facilitate and accelerate investments in Lebanon by short-circuiting and bypassing lengthy bureaucratic and administrative procedures and providing investors with a single point of contact for all dealings with the Lebanese government. The OSS supercedes all public administration, authorities and municipalities in issuing required permits and licenses for projects approved by IDAL 's board of directors.
The OSS guides investors through a step-by-step procedure to successfully develop and implement their projects in Lebanon. It offers pre-investment advice and information enabling investors to evaluate the viability of their projects from legal and permitting aspects.
Through the One-Stop-Shop, IDAL reviews any investment opportunity and submits suitable recommendations to the board of directors for approval. This mechanism expedites the decision-making and reduces bureaucracy, ensuring streamlined approval process. Once the project is approved, IDAL assists the investor with the issuance of permits and licenses. Post the implementation phase, IDAL continues to support investors through a wide range of aftercare services to ensure successful operations of the project.
The One-Stop-Shop licensing directorate comprises two main entities:
Licensing and Incentives Department:
This department is responsible for: - Receiving various applications from investors interested in benefiting from the One-Stop-Shop, offering incentives and tax exemptions and assisting in the issuance of licenses, permits and administrative approvals - Providing all data and information required by investors (administrative, economic, and legal, etc); - Analyzing the legal, technical and engineering aspects of the application and assessing the compliance of the project with the Investment Development Law 360; - Preparing and submitting recommendation reports to IDAL 's board of directors; - Following up on various applications for licenses, permits and administrative approvals with the involved municipalities and the concerned public institutions; - Monitoring and following up on the implementation of the projects to ensure compliance with the mandated criteria;
After Care Service Department:
This department is responsible for: - Providing investors with the required assistance in overcoming challenges and administrative burdens post the implementation phase; - Recommending, if required, issuing additional licenses and permits necessary during the operations phase of the project;