What happens does not encourage any investor to enter a country like Lebanon

What happens does not encourage any investor to enter a country like Lebanon

| Tuesday 21 March 2023

Antoun el-Fata, “Akhbar al-Yawm” agency

Source: is he unable to stop corruption or is he an accomplice in it?

This is how the official in the Lebanese state faces daily crises: between meetings with officials and international delegations, and between some useless internal meetings.

A source who follows life Affairs invites the Lebanese, advising them to forget about the possibility of attracting any serious investment to Lebanon, at least for the foreseeable future.

He explained in an interview with "Akhbar al-Yawm" agency that "the new methods of attracting money from abroad will be through stopping insults towards some Arab countries, on some media platforms and political platforms, which would have been a new starting base already. No one abroad has been looking at the Lebanese state since 2019, except on the basis that it is a country where money, savings and deposits are wasted, and that it is a state of corruption.This is a completely different situation from the previous one, and it makes it difficult to restore external confidence in Lebanon in the near future”.

The source stressed that "the sum of what happens daily, along with judicial corruption, the absence of security and safety, does not encourage any investor to enter a country like Lebanon".

He added: "When an official recognizes the chaos that exists in his country many times, this raises a lot of questions: Is he incapable of stopping corruption? Or is he a partner in it? The repeated recognition of the corruption without stopping it is what causes Lebanon to lose its reputation and trust in front of the countries abroad the most".

He concluded: "don't wait for something at least soon. Even the implementation of some reforms and the signing of a program with the IMF, if it happens, will only lead us to more daily chaos".

 

 

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