60 foreign companies registered

Nine projects benefited from IDAL incentives

International companies that opened branches or representative offices in the local market reached 60 in 2013, according to a report by IDAL.

European companies accounted for 53 percent of the total number, followed by Arab companies (25 percent), and American companies (ten percent).

About 28 percent of the foreign companies specialized in financial and consultancy services, research and education, transportation, logistics, and healthcare. Trade and industry sectors including pharmacy and chemical products, machines, and food industry attracted about 17 percent of the foreign companies. About 15 percent invested in the media sector, and 13 percent in the real estate and retail sectors.

IDAL also received several applications, in 2013, from local and foreign companies that wished to benefit from its incentives for new projects or to expand existing ones. About nine projects met the required standards to benefit from IDAL’s incentives.

About 75 percent of these projects invested in the tourism sector, and 21 percent in industry. Mount Lebanon received 46 percent of the projects, Beirut and the Bekaa each accounted for 27 percent.

Investments in the nine projects reached $175 million and created about 900 job opportunities.