Abu Haidar: Lack of Trust Hinders Attracting Foreign Investments

Mohammed Abu Haidar, Director General of Economy and Trade, participated in the Arab Banking Union conference concerning the risks of slowing global economic growth, increased financial risks, and investment opportunities. During his remarks, Abu Haidar stated that "the lack of trust hinders the attraction of foreign investments; hence, any foreign investment requires trust, and trust necessitates reforms. This highlights the importance of the International Monetary Fund program, which is the only current solution for regaining international community trust." He also emphasized "the historical role that Saudi Arabia played in supporting Lebanon at all levels and the importance of trade agreements between the two countries." Additionally, he addressed the mechanization of services within the Ministry of Economy and Trade, noting that the ministry is expected to offer 18 fully mechanized services in the first quarter of 2024, marking the first step towards the desired digital transformation, which is considered the cornerstone of building the state and good governance.