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Lebanon Opportunities

Lebanon Opportunities August 2019

Lebanon Opportunities is a quarterly business magazine that covers: Finance, Real estate, Economy, and Local business. Lebanon Opportunities has tens of thousands of readers in Lebanon and across the globe. It is the prime local business magazine in Lebanon in terms of readership, advertising, and name-awareness. Lebanon Opportunities is written to a target of small business owners, entrepreneurs and middle management, as well as to Lebanese living abroad. It aims at bringing complex business issues in a simple manner understandable by readers who are not experts and whose English language is not the mother tongue.

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3 min
monsters and demons

Facing what seems like interminable, terminal self-inflicted socioeconomic disorders, and perhaps for the sake of innovation, or to just fight the dullness of summer, those in charge of our politics and economy are distracting themselves, and the nation, with badly imagined, imaginary demons. Some through maliciousness, others unconsciously, those at the nation’s levers of power are distracting us with sideshows. THE MONSTER INSIDE For the past 15 years, the increase in power and suppressive behavior of an ayatollahobedient, yellow-ribboned, warring organization, has led to them dominating the country. Not just physically. Its influence on our culture, political structure, and economy has been devastating. Omnipotence over one of the largest communities in the country, with drastic, societal face-changing effects, Le Hezb has spread its tentacles inside all the other communities, including those groups…

1 min

SOUND BYTES There must be an organic link between the plan for education and that for the economy Parliament Speaker Nabih Berri I personally go through periods of pessimism, but I quickly calm down and return to the basics Prime Minister Saad Hariri This budget has no economic vision Gebran Bassil, Minister of Foreign Affairs The electricity plan is being implemented faster than projected Nada Boustany Khoury, Minister of Energy and Water We will break all records this year Avedis Kidanian, Minister of Tourism Some officials do not realize the seriousness of the debt, and they still believe that magic solutions will come Camille Abou Sleiman, Minister of Labor We can’t lower the cost of telecom because the Treasury is in need of every dollar Mohamed Choucair, Minister of Telecom No one knows the number of public servants Neemat Frem, MP and Chairman of the economic…

2 min
in good company

DRYDOCK AND SHIPYARD IN AKKAR Excavation works have been launched by Alarida Drydock and Maintenance for Ships to build a dry dock and a factory for manufacturing and maintaining yachts and ships in Alarida village, Akkar, near the Syrian border. The company is owned by the Member of the Parliament Tarek El-Merhebi. The project will be built on a 200,000 square meter (m2) plot of land, part of which is on the seaside, with a total built-up area of 70,000 m2. The project will have two phases. The first phase, the factory for maintaining ships and manufacturing yachts, will be completed in 2021. “We are looking forward to fulfilling the needs that will come from oil companies to maintain their ships,” said El-Merhebi. The factory will manufacture four yachts a year…

4 min
money & banking

E-COMMERCE PLATFORM GETS $4 MILLION Ecomz, the e-commerce management platform, said recently that it has increased its capital by $4 million to scaleup, expand globally, and enhance the platform with Artificial Intelligence (AI) and machine learning capabilities. The new equity funding came from Beirut-based venture capital firm Cedar Mundi Ventures, the Kafalat-managed iSME Programme, and BLC Bank. “We may launch other rounds to raise more funds two or three years from now because this line of business always needs expansion,” said Amer Tabbara, Co-Founder of Ecomz and its Chief Sales Officer. He said that they had invested nearly $3 million to develop the platform over the last ten years. Ecomz (ecomz.com) is an endto-end ecommerce management platform that operates in 55 countries. It provides e-commerce store builder capabilities and built-in store…

3 min
official business

POWER PRODUCERS BIDDERS TO APPLY FOR CLASSIFICATION The Ministry of Energy and Water (MoEW) has called upon companies seeking to participate in large scale conventional power projects as independent power producers (IPPs) to apply for classification as lead developers or consortium members. A lead developer is defined as a firm that will hold the largest share in a special purpose company founded for the implementation of the project and that will act as the managing member in the new company. A consortium member is defined as a firm with an ownership share of less than 50 percent. The MoEW said that this will be the first step to allow companies to participate in the tender process for the projects and that it will release requests for proposals in the near future.…

3 min
matters of fact

STÉPHANE ATTALI PASSES AWAY ESA General Director Stéphane Attali, who was in his post since 2009, has passed away. Attali was also the President of MEREF, the French chamber of commerce in Lebanon. Under his tenure, ESA has succeeded in a large number of endeavors. It obtained a number of international accreditations, started new programs such as entrepreneurship, Islamic finance studies, art, management and others. The campus also expanded with the creation of several new facilities. Attali started his career in a consultancy firm in Paris. He joined the Chamber of Commerce and Industry of Paris in 1999. He was appointed at ESA Business School where he was in charge of educational development. He also created an entrepreneurship program at ESA. Attali holds a diploma from Université Paris-Dauphine and another degree…