Tuesday, October 19, 2010

Lebanese traditions: hummus, free-market and laissez-faire

"Itani said that market services and trade are the highest contributors to GDP in Lebanon while industry and agriculture, which account for 9 percent and 6.8 percent respectively, have not attracted their potential FDI.

"Moreover, Lebanon's share of FDI in the region amounted to 6 percent in 2009 compared to only 3.8 percent in the year before," he said.

Itani cited the most important factors which contribute to the increase in the flow of FDI to Lebanon.

"The free-market economy and laissez-faire commercial tradition welcome foreign investment with no restrictions on payments and transfers," he said."

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