IDAL hosts ICT seminar

Up to 12 percent expected growth in technological sector in 2011

June 24, 2011- The total value of investments in the technological sector amounted to $287 million in 2010, Chairman of the Investment Development Authority of Lebanon (IDAL), Nabil Itani, said Wednesday (June 22) during a seminar at the Chamber of Commerce and Industry in Beirut.

According to Itani, the projected growth for the Information and Communication Technology (ICT) sector in 2011 could reach up to 12 percent. He said exports of the ICT sector account for three percent of total exports, with one third of the sector’s total outcome being exported.

Itani said the ICT sector is a hub for investment opportunities. “Investments in internet projects accounted for 12 percent of the total number of projects IDAL has supported since 2003, equivalent to $16 million,” he said.
IDAL is a public institution with the mission of promoting the investment climate, and helping investors through offering them fiscal incentives.