Despite the Italian Recession, Lebanon Calls on Italian Companies to Invest in It

Published February 7th, 2019 - 10:19 GMT
Lebanese Prime Minister Saad Hariri (R) and his Italian counterpart Giuseppe Conte give a join press conference at the Grand Serail, the prime minister headquarters in Beirut, on February 7, 2019. (AFP)
Lebanese Prime Minister Saad Hariri (R) and his Italian counterpart Giuseppe Conte give a join press conference at the Grand Serail, the prime minister headquarters in Beirut, on February 7, 2019. (AFP)

Prime Minister Saad Hariri called on Italian companies to invest in Lebanon, during a joint news conference Thursday at the Grand Serail with his Italian counterpart Giuseppe Conte.

Hariri called for the establishment of partnerships between private Italian and Lebanese companies, and said that he and Conte discussed possible investment opportunities when they met privately before the news conference.

“Lebanon can become a regional center for Italian companies,” Hariri said.

“The upcoming stage [in Lebanon] is for work. It has many investment opportunities, especially regarding the pledges the Lebanese government made at the CEDRE conference, which include infrastructure projects [that will be carried out] in coordination with the private sector,” Hariri said.

He thanked the Italian premier for his country’s support for Lebanon, especially with its contribution to UNIFIL, the peacekeeping mission in southern Lebanon.

Conte assured the Lebanese people of his country’s support. “Italy has been by Lebanon’s and the Lebanese people’s side for a long time, and it will continue to support peacekeeping and dialogue. Lebanese people can be assured of the Italian support [as we are] tied by strong friendship bonds,” Conte said.

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He wished the new Lebanese government luck after its formation last week following eight months of political wrangling.

“The new government faces many challenges. But I saw that the prime minister is focusing [on] economic reform and infrastructure, and he wants all the political parties to participate in this,” Conte said.

The Italian premier said that he and Hariri also discussed the latest developments along the Blue Line that demarcates the border between Lebanon and Israel. "The Italian troops are ready to meditate to reach positive results” to minimize any tension, he said.

Hariri stressed Lebanon’s commitment to United Nations Security Council Resolution 1701 that ended the 2006 war with Israel as well as its commitment to the government’s policy of dissociation from regional conflicts.

Conte arrived in Beirut earlier in the morning and was received by Hariri in an official ceremony at the Grand Serail.

After the news conference with Hariri, Conte headed to Baabda Palace to meet President Michel Aoun. Later in the day, he will meet Speaker Nabih Berri and visit Italy’s UNIFIL contingent.

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