Lebanon’s growth of construction

High growth in Lebanon’s construction and infrastructure

The private sector in Lebanon has been driving the country’s economic growth for the last four years. The construction sector is growing, with prestigious projects to build 5-star hotels and luxury properties in central Beirut.

 
The new projects hold opportunities for Danish architects, contracting companies and manufacturers of Danish design and luxury goods.

”The economic upturn is attributable to the fact that the Lebanese financial sector suffered no adverse effects from the financial crisis. Quite the contrary: Lebanon benefited from the multinational banks’ and investment companies’ failed investments, and billions of dollars sought refuge in Lebanon during the crisis. This has generated a lot of interest among investors worldwide, who have seen the potential in the free and dynamic market in Lebanon,” says Jan Top Chistensen, Danish Ambassador to Lebanon.

The country’s infrastructure holds a great many challenges, and the Lebanese government has pledged to carry out a number of projects. The power plants are to up their electricity generation and renewable energies – solar, wind and hydro – are on the cards. The country’s resources of potable water must be better exploited and there is a commitment to sorting and treating waste. Most recently, large oil and gas deposits have been discovered in the sea off the Lebanese south coast.

Skilled workforce
”A number of Danish companies have enjoyed a solid position on the Lebanese market for many years, while other Danish companies are relative newcomers,” says Jan Top Christensen, adding that:

”Lebanon is a very open country with a skilled workforce, which besides Arabic are also fluent in both English and French. Doing business in and with Lebanon is very easy, and starting a company in the country is relatively low-cost.”

 

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