The Chamber of Commerce, Industry and Agriculture in Beirut and Mount Lebanon, in cooperation with the Lebanese-Russian Business Council, organized the 5th Lebanese-Russian Business Forum with the participation of Mohammed Choucair, the Minister of Communications and the President of the Federation of Lebanese Chambers, in addition to a number of Lebanese businessmen and economic bodies, and a Russian delegation of more than 30 businessmen representing companies operating in different economic sectors.
Choucair had a speech during the forum where he said "the private sector in Lebanon strongly believes in the importance of the strategic relations at the economic level with Russia," pointing at "although the figures are still very modest between Russia and Lebanon, but on the other hand, there was a positive breach represented by the entry of Novatech, the Russian corporate into the field of investment and exploration of oil and gas off the coast of Lebanon. A contract was recently signed for the operation and rehabilitation and development of the oil facilities in Tripoli with Rosneft company.
He also considered that "today, there are promising investment opportunities in Lebanon, which are the infrastructure projects approved by the Cedar Conference and valued at $11.8 billion. What increases the attractiveness of these projects is the adoption of the Public Private Partnership Law."
He finally added "Lebanon, with its stability and security, supported by its free economic system and the strength of its private sector and its banking sector, is ready to embrace the Russian companies wishing to expand into the region".
Source: (Economic Bulletin website, Edited)
