Presidency of the
Council of Ministers
IDAL hosted the Minister of Agriculture Abbas Mortada heading a work group from the Ministry to discuss cooperation between the two parties in supporting the agricultural sector. Participants stressed the fact that agriculture is not a luxury, but rather an existential issue, emphasizing the need to strengthen this sector as one of the main pillars of the productive sectors, especially in light of the relentless efforts to transform the national economy from a rentier economy to a productive economy.
IDAL organized a workshop, hosting the Minister of Industry, Dr. Imad Hoballah, in order to discuss cooperation that enables IDAL to support the industrial sector and other related sectors. Various decrees and procedures were examined before submission to the Council of Ministers. This workshop followed the signing of a MOU between the Ministry of Industry and IDAL with the aim of promoting investments in the industrial sector and paving the way towards a new production model.
IDAL granted the IPZ (investment project by zoning) incentives' scheme to a new agricultural investment, Agrotica SAL. This project consists of producing fruits in the region of Aana - West Bekaa, extending over an area of 940 thousand square meters, with the aim of exporting 90% of its production mainly to the GCC countries, Egypt, East Asia in addition to some European countries. The investment size of this project is USD 2.16 million.
IDAL CEO Dr. Mazen Soueid discussed with the former Minister of Economy Dr. Raed Khoury the relaunch of the McKinsey plan and the initiatives proposed therein, notably those related to IDAL`s work. This plan was put in place by the previous government in order to revive and support the productive sectors.