Cabinet approves
seven industrial zones

Three international parties to finance $120 million

The Cabinet has approved a project to establish seven industrial zones across the country.

The projects, submitted by the Ministry of Industry (MoI), would establish industrial zones in Baalbek, Al Qaa, Anjar, Taanayel, Baawerta, Halba, and Koura, in cooperation between the private and public sector.

The industrial zones will be centers for modern industries that rely on technology, innovation, and for agro-food industries that have a competitive edge.

The Italian Government has granted €500,000 ($550,000) to execute the master plans. Three international parties have agreed to finance $120 million to establish industrial zones in Baalbek, and Al Qaa: European Investment Bank, European Bank for Reconstruction and Development (EBRD), and the Italian Government, according to Dany Gedeon, Director General at MoI.

The MoI will begin working to provide funds for the remaining industrial zones. “Investors from several countries, including China, showed interest in investing in these projects,” said Gedeon.