Lebanon's economic crisis: Amin Salam calls for Arab support

Amin Salam, the Caretaker Minister of Economy, explained that despite the great strides that have taken place in the file of Arab economic integration and the commendable efforts made in this context by the League of Arab States and all Arab countries, integration must become a reality "because our strength as Arabs is not only in our unity but also in our economic agglomeration." 

In a recent speech during the preparatory meeting of senior officials of the Economic and Social Council for the Arab League Summit, he added: "The world is witnessing shifts in politics and the economy, and our Arab world is not far from these transformations. Steps are of great importance that we praise and look at with a glimmer of hope for the future of our region."

Still, "these Arab transformations, and those related to our region, must be accompanied by real Arab endeavors to build a long-awaited integrated Arab economy." 

He pointed out that modern history has proven that the strength of states is no longer measured by their military superiority but rather by their economic capabilities and the development of their industries, and the extent to which they achieve self-sufficiency, in addition to their immunity to various economic crises. 

He stressed that the Arab world possesses, in all its countries, unparalleled economic capabilities and strengths that made it and still is the focus of ambition for many, with its natural resources, human capabilities, and a prominent geographical location in which it holds several of the most important gates of the world. 

In his speech, Salam touched on the file of Syrian refugees, saying: "It is no longer hidden from anyone that the great economic burden incurred by Lebanon, as well as the rest of the Arab countries hosting Syrian refugees, as a result of this." 

He added that reducing this burden on Lebanon and the Arab host countries begins with a rule of a speedy return with safe and dignified conditions for the Syrian refugees to their homeland. 

This not only relieves the economic and social pressure on Lebanon but also constitutes an essential element and a vital human resource for rebuilding their villages and cities, achieving development, and launching the economic wheel in Syria for the benefit of all Arab countries. 

He said, "Lebanon is going through, as you know, its worst economic crisis throughout its history, and its crisis is considered one of the most severe crises in the world, linked to the huge explosion that occurred in the port of Beirut and left great losses, the painful repercussions of which we are still living to this day." 

He highlighted that Lebanon is going through a delicate transitional phase—a fateful one based on reform, strengthening confidence, and rebuilding.

Still, Salam highlighted that Lebanon is always confident that its Arab brothers will stand by it in all the crises and wars that afflicted it, looks forward to their support in this ordeal, and invites them to invest in its infrastructure and establish productive projects that benefit Lebanon, Arab countries, and Arab investors. 

He pointed out that the investment opportunities are numerous and promising, and Lebanon, which is considered one of the economically pioneering countries in the history of the region, can rise again from its economic rise as the rise of the rest of the Arab countries facing financial crises, is an added value to the economy of the Arab world and is in the interest Arab economic integration and the Arab economic power "that we all aspire to."