Lebanon Businessnews News
 

Batroun Free Economic Zone
Draft law on its way to Parliament
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The Batroun Free Economic Zone is projected for 2017, according to Laurent Aoun, Member of the Executive Council at the Maronite League, and head of the Economic Committee.

The project, announced 18 months ago, is the result of a mutual collaboration between the Batroun Maronite Diocese and the Maronite League. The Batroun Maronite Diocese will offer a large land plot in Batroun for this purpose. It is located in Kfarhay, next to the St Jean Monastery.

Aoun said that the draft law is ready to be sent to the Parliament in the next ten days. After getting the approval of Parliament, the work to establish this Free Economic Zone will not take more than three years. According to Aoun, the funding sources have been secured.

The draft law is similar to the one ratified in 2008 to establish a Free Economic Zone in Tripoli. “The similarity will save time and will help the project overcome obstacles.”

The Economic Zone targets clean industries, including businesses specialized in software and other ICT projects. Businesses within the zone will benefit from special services, facilities, high-tech infrastructures, and incentives.

The project is expected to generate 5,000 jobs.

An independent financial and administrative committee will oversee the zone.

“The Maronite League supports any potential economic zones in other regions, in order to realize a balanced development,” said Aoun.
Reported by Rana Freifer
Reported by Rana Freifer
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Date Posted: Apr 03, 2014