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Bakdash to LBCI: Industrialists in Lebanon need incentives

12-02-2022 | 06:41

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Bakdash to LBCI: Industrialists in Lebanon need incentives

Vice-President of the Industrialists Association Ziad Bakdash explained on Saturday that some raw materials have a customs charge, which discourages industrialists in Lebanon.

He added during an interview with LBCI’s Nharkom Said TV show that “industrialists cannot pay for others' electricity and taxes because many people do not pay their electrical bills."

On the other hand, he emphasized that “all government economic policies since 1975 have favored short-term and rapid projects, despite the fact that industry need three to four years to expand and generate.

He also noted that industrialists in Lebanon need incentives, adding that some of which are included in the budget, such as tax breaks for startups for several years.

“However, as an industrial association we urged that such incentives be applied solely to products that are not available in Lebanon," he concluded by saying.

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