The Belgian Business Council in Lebanon
Lebanon has one of the highest GDP per capita (9,227USD for 2010) in the Levant area. Although its population is approximately four million, more than 10 million Lebanese live abroad. This Diaspora creates high visitor numbers, in addition to the one million tourists that visit Lebanon every year.The telecommunications sector in the country has a large potential for growth. The TRA is committed to exploit all the possibilities for growth in the sector in accordance with the Telecommunications Law. Such growth is expected to generate substantial benefits for the Lebanese economy and population.The major developments that took place on the telecommunications market in 2011 were the introduction of new prepaid packages in June 2011, the commercial launch of 3G services by the two mobile managers, MIC1 and MIC2 in November 2011 and the decrease in the ADSL prices as per the Decree 6297 issued in September 2011. As a result of this Decree, low speed packages have been cancelled and an entry package of 1Mbps speed is now offered at a price 70% lower than previous 1Mbps offer with a usage that can go up to twice the previous one.
The Investment Development Authority of Lebanon (IDAL) is the national investment promotion agency that was established in 1994 with the aim of promoting Lebanon as a key investment destination, and attracting, facilitating and retaining investments in the country.
Belgium occupies an important position on the economic chessboard. It is ranked 12th country in the world for the export of merchandise (WTO-2014 Report) and is a favourite destination for investors. Every year, billions of euros of foreign direct investment are made in Belgium.