The world’s richest man who was speaking at meeting with economic bodies at the Adnan Kassar Business Center, said that the more the private sector contributes to investments in telecom, road infrastructure, tourism, and other sectors, the more the economy will grow and become competitive. 

Helu said he was surprised that Lebanon, a country known for its rich water resources, owns only one hydroelectric power plant. “The power sector needs to be privatized to supply all people with power all day-long, and not only half of the population,” he said.

Helu said that the mobile penetration is still at low levels, and should “be increased to 90 percent from 50 percent currently.” He said that if the telecom sector is managed properly, it can host 500 operators.

Helu said that Lebanon should regain its position as the region’s financial and business center.  He said he expects that the investment climate in Lebanon will improve but he stressed “the need to impose the rule of law in the country and abolish corruption which still raises concerns of foreign investors.”

When asked about the purpose of his visit to Lebanon, Helu said that “it is for pure tourism purposes, and to introduce his sons and daughters to his home-land.”