Lebanon still a land of opportunity, PM Salam says, but warns security is key

Lebanese Prime Minister Nawaf Salam said Wednesday that Lebanon remains a country of promising opportunities, but warned that progress hinges on security and stability. “We have started a path of reform, and much work remains. Without safety and security, we risk missing the opportunity for national advancement,” he said at the Beirut One conference.

Salam emphasised Lebanon’s renewed engagement with the Arab world. “Lebanon has returned to the Arab world, and the Arab world is returning to Lebanon. We hope to lift restrictions on Lebanese exports, and tomorrow [Thursday], scanners will be launched at the Port of Beirut. I am confident that Arabs will return to Lebanon."

On economic reforms, Salam stressed the importance of the International Monetary Fund (IMF) agreement. “We cannot consider stepping back from the agreement. Its significance goes beyond the funds it provides — it gives us a certificate of good conduct that will open the door to investments,” he stated. 

He added that other options are not viable, and that the reforms demanded by the IMF are precisely what Lebanon needs.

The prime minister acknowledged a crisis of trust between citizens and the state, as well as between Lebanon and the Arab world and the international community. “Our government is working to restore this trust. We are acting seriously and differently, and the participation of the Saudi delegation at this conference indicates the beginning of the kingdom’s renewed confidence in Lebanon,” Salam said.

Salam also highlighted government efforts to assert state authority across the country. “For the first time, there is serious work to extend state authority over all Lebanese territory, and we must continue this path,” he said. He confirmed that parliamentary elections would be held on schedule.

Addressing the issue of bank deposits, Salam said past proposals to return deposits over ten years or more were unacceptable, particularly for small depositors. “Everyone will receive their deposits within reasonable periods,” he said, while noting that not all deposits are equal. 

“Legitimate depositors will be protected, but those tied to corruption or criminal activity must face consequences,” he added.

On infrastructure and energy, Salam said Lebanon faces challenges in electricity distribution, billing, and production. He outlined plans for public-private partnerships to build two major power plants and two renewable energy facilities for solar and wind power.