Lebanese President: "we are taking steps to encourage investments with Gulf countries"

BEIRUT, Dec 22 (KUNA) -- Lebanese President Joseph Aoun affirmed on Monday that his country is taking steps to encourage, exchange, and protect investments with the member states of the Gulf Cooperation Council (GCC).
In a statement, the Lebanese Presidency said that during his meeting with Wissam Al-Arees, head of the Federation of Lebanese-Gulf Business Council, who was leading a delegation from the federation, Aoun expressed his hope that Lebanon would see an increase in the number of Gulf tourists in the coming period.
The Lebanese president praised the role played by the federation in developing Lebanese-Gulf relations and restoring economic ties to their former strength, stressing that "we, in return, must ensure the political, economic, and judicial environment, as well as security and financial stability, in order to achieve this goal and encourage the return of investments to Lebanon." He also addressed the key internal steps Lebanon is taking to restore the authority of the state and revive the national economy, as well as the security stability the country is experiencing, noting that last summer Lebanon received 1.7 million tourists.
For his part, Al-Arees highlighted the economic situation in Lebanon, pointing out that the number of visitors to Lebanon during the holiday season could reach around 400,000, of whom 20 to 25 percent are from GCC countries.
Al-Arees said, "For the first time in many years, we are witnessing the return of our Gulf brothers to Lebanon in large numbers, especially from Kuwait, the United Arab Emirates, Qatar, and the Sultanate of Oman." He noted that the Lebanese-Gulf Councils Federation is working in full coordination with economic bodies to develop and strengthen relations with GCC countries.
Al-Arees added, "What matters to us as a private sector is restoring the confidence of GCC countries in Lebanon, and this has made significant progress during the era of President Joseph Aoun," in addition to providing suitable conditions that enable the Lebanese private sector to sustain its presence and effectiveness in the Arab Gulf states.
He also emphasized that the federation is working to create a favorable climate for business and investment in Lebanon, which would help attract Gulf companies to participate in investments in public or private sector projects, as well as support the return of Lebanese exports to Gulf markets and increase trade and tourism exchange.
Al-Arees stressed that GCC countries constitute "Lebanon's strategic economic and social depth," noting that restoring economic relations to their former state would lead to economic growth in Lebanon exceeding 10 percent. (end) ayb.onm