Beirut hopes to match past successes of Arab meeting
Regional, Economics, 10/10/1997

Increasing the amount of Arab capital invested in the Arab world will be the main topic in a conference to be held in Beirut between October 18-21.

The gathering will be the seventh in a series of such meetings organized by the Arab League in an attempt to set up partnerships between Arabs. It is the first time it will be held in Lebanon.

Mohammed Lamaa, deputy chairman of Beirut chamber of commerce and the head of the organizing committee for the conference said previous conferences had scored considerable successes. In Tunisia a chain of hotels and other tourist facilities were established through such meetings, while in Saudi Arabia, several steel factories were built through joint ventures set up at the conference. Similar enterprises were also instigated in Kuwait, Egypt and Morocco.

Arab investors have considerable confidence in investment opportunities in Lebanon, despite the damage that was caused by the war," said Lamaa. Representatives from European and US businesses, however, will, for the first time take part in the conference. A representative from the World Bank will address the meeting.

Some 800 foreign participants are expected to attend the meeting., plus 200 from Lebanon.

Previous Stories:
  European investment in Arab countries is $3.1 billion a year   (10/6/1997)
  US Banking and Marketing Association objects to Iraq and Libya's benefiting from its agreements   (10/6/1997)
  Arab League to deadbeat countries: pay up   (10/4/1997)

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