Lebanon Economic Vision

Plan Type: Vision

Member State: Lebanon

Coverage Period: -

Document Language: English

GOAL 2: Zero Hunger GOAL 3: Good Health and Well-being GOAL 4: Quality Education GOAL 6: Clean Water and Sanitation GOAL 8: Decent Work and Economic Growth GOAL 9: Industry, Innovation and Infrastructure GOAL 11: Sustainable Cities and Communities

Lebanon Economic Vision

January 2018

On 20 October 2017, the Council of Ministers approved the launch of a study to set a vision for Lebanon’s economy under the title 'Lebanon’s Economic Vision and ways to achieve it'. This vision aims to grow the gross domestic product and create jobs by selecting productive sectors that could become competitive.

Pillars & Objectives

Pillar: Economic reforms
  • Diversify the Lebanese economy
  • Develop value-added future-proofed productive sectors
  • Focus the government resources and efforts on priority areas
  • Ensure a healthy public sector
  • Improve collection and rational spending
  • Control public debt
Pillar: Improve the business environment
  • Reduce the cost of doing business
  • Address corruption in the public sector
  • Improve the overall business environment
  • Raise Lebanon’s competitiveness levels
Pillar: Agriculture
  • Improve efficiency and transparency in local markets, including wholesale markets and distributors
  • Develop a crop transformation strategy
  • Introduce an alternative programme for tobacco farmers
  • Develop a comprehensive and integrated view on subsidy programmes
  • Support the export readiness of Lebanese products
  • Initiate the development of a cannabis strategy across the whole value chain
  • Strengthen the scope and scale of agricultural research
  • Launch a programme to strengthen the capabilities of cooperatives
  • Strengthen the quality assurance ecosystem including food inspection services
  • Initiate a comprehensive exercise for agriculture land registration
  • Facilitate capital investment in agriculture
  • Develop the agricultural human capital
  • Ensure water sustainability through improved management and conservation efforts
  • Improve the agricultural sector's formalization and increase farmers' protection
Pillar: Industry
  • Set-up a governance structure to ensure strategic oversight and alignment among industrial zones
  • Strengthen the value proposition of planned zones through specialization and additional services
  • Accelerate the launching of planned zones in Tripoli, Terbol, Baalbek and Al Qaa
  • Develop the next-generation construction technology zone, potentially in Al Qaa, targeting Iraq and the Syrian Arab Republic
  • Plan the second wave of industrial zones in Mount Lebanon, Beirut and the South
  • Assess the potential for establishing a dry port at an international highway crossing, e.g. near Chtoura
  • Adopt, enforce and support compliance with industrial quality standards
  • Strengthen efforts to attract investments with a special focus on domestic and diaspora investments
  • Activate the article on investments in law number 360
  • Increase the availability of skilled technical labor by reorienting and strengthening technical and vocational education and training
  • Selectively pursue new trade agreements such as Agadir Agreement of the World Trade Organization
  • Improve customs access, including the duration of physical inspections
Pillar: Tourism
  • Build core tourism offerings and set up eco-tourism hubs
  • Grow the manufacturing and industrial segment
  • Position Lebanon as a “convenient” destination for medical tourism
  • Improve the infrastructure and connectivity
  • Enhance research and data analysis to drive decision-making
Pillar: Financial services
  • Strengthen financial services
  • Diversify the banking sector asset base
  • Develop a detailed strategy for the banking sector
  • Enhance cost efficiency through digitization
  • Set-up a national credit bureau
  • Position Lebanon as an investment management and offshoring hub
  • Enhance financial awareness and literacy across all levels
  • Enhance access to financing for small and medium-sized enterprises in creative industries
Pillar: Knowledge economy
  • Ensure a continuous pipeline of research and development funding
  • Reinforce the technology footprint of transfer offices
  • Unlock the Lebanese University's technology footprint
Pillar: Education
  • Attract international educational institutes to open branches in Lebanon
  • Address capacity constraints in selected top universities
  • Enhance the overall educational system within the country
  • Revamp the secondary curriculum to incorporate technology
  • Revamp the tertiary curriculum to incorporate technology
  • Strengthen the perception of Lebanese graduates' employability in international markets
Pillar: Urban efficiency
  • Improve the transport system within Beirut and Mount Lebanon
  • Improve the solid waste management in the Greater Beirut Area
  • Upgrade the water network in Beirut
  • Improve the governance of the Greater Beirut Area
Pillar: Trade agreements
  • Improve the framework of trade agreements and export