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06-10-19
11 percent Lebanese FDI from UAE
(MENAFN) Lebanon's foreign direct investment (FDI) witnessed massive contribution from the United Arab Emirates (UAE) with it being considered as a top investor in the country.
Before the second UAE-Lebanon Investment Forum is launched, UAE Ambassador to Lebanon Hamad Saeed Sultan Al Shamsi revealed 11 percent of Lebanon's FDI inflows to have been generated from the UAE.
On Monday, the joint investment forum will commence in Abu Dhabi with the participation of Lebanese Prime Minister Saad Hariri alongside a number of top ministers and officials.
Ambassador Al Shamsi stated "the upcoming joint investment forum is a realisation of the vision of the UAE"s leadership for joint Arab action, especially with Lebanon."
The envoy added that the Middle East accounted for some 29 percent of the overall FDI inflows that Lebanon enjoyed, with the amount reaching USD2.9 billion in 2018 from the USD2.5 billion a year earlier.
MENAFN0610201900450000ID1099090339
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