The Minister of Industry in the caretaker government, George Bouchikian, issued a statement in which he stated that "industry relies on emerging factories and has become one of the main drivers of the Lebanese economy. This is reflected in the numbers at the Central Bank, as industry plays a fundamental role and is considered one of the pillars of the national economy. Lebanese products used to account for 11% to 17% of the local market, but today they have reached approximately 67%. We can see this in the markets today, and it is a significant driver for the economy, especially in our current situation where we need dollars. On the other hand, we have increased exports from two billion dollars to four billion dollars. Here, we highlight the industrial revival and the number of emerging factories, as the current government has sought to transform the crisis into a long-term solution, turning a misfortune into a gift, resulting in factories spreading throughout Lebanon."
He added, "Over the past three years, we have granted licenses for about 1,300 factories across all sectors, and we have added three key sectors, increasing the number from 21 sectors to 24. These three sectors are:
- The recycling sector, which has become one of the most important sectors in Lebanon and is developing rapidly to the point that, in three years, we have advanced beyond other countries. Recycling has also become a culture in Lebanese society thanks to the policies we have implemented.
- The programming sector, which is rapidly evolving and is based on Lebanese youth who have excelled in it, especially in the field of artificial intelligence.
- The film production sector, which owes much of its development to Professor Sadiq Al-Sabah, who supported its growth."
Bouchikian affirmed that the industry is in good shape, representing 37% to 41% of the total GDP today. There is also an increase in investments in factories, such as pharmaceutical factories, where Lebanese pharmaceutical industries cover around 55% of the local market, and we take pride in these industries and export them abroad. There are three investments in large pharmaceutical factories, one in the Bekaa region and another in the south.
He noted the "trend of promising foreign investments coming to Lebanon in various sectors, in addition to projects we are working on with foreign countries and European chambers of commerce to establish a sort of partnership with specific countries to produce complementary industries here in Lebanon, covering the Middle East, and benefiting from the Lebanese workforce and Lebanon's geographical location and communication with the Lebanese diaspora. Most of these factories are in the food sector, where global brands are establishing factories in Lebanon, which is already happening; for instance, certain types of food products like chocolate are currently being produced in Lebanon for the local market and for export."
He added, "Regarding export issues with the recent crisis in the Red Sea, we have overcome it and adapted to it. There are no problems with Lebanese ports, but prices have risen slightly due to increased transportation costs."
