Lebanon to inject 400 million U.S. dollars in industry and agriculture sectors

Several sectors of the economy have witnessed a dwindling effect pertaining to the coronavirus pandemic. In order to support Lebanon’s industry and agriculture, Lebanese Industry Minister, Imad Hoballah, said on June 5 that, the government will inject 400 million U.S. dollars in these sectors.

The government will provide the necessary help with the cooperation from the Investment Development Authority of Lebanon.

The Lebanese government’s new strategy, centres on supporting productive sectors, to create more job opportunities for the Lebanese, and encourage consumption of local goods.

By far, the economy of the country has been mostly dependent upon the services sectors, such as tourism and the banking sector. As a result of it, Lebanon has to rely on importing foreign products for consumption. But the corona-crisis have given opportunities for countries to focus on self-sufficiencies and promote local goods.

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