Lebanon Businessnews News

Raya Hassan to head Tripoli Free Zone
Plan would attract investment and generate job opportunities
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The Council of Ministers has appointed a seven-member board of directors for the authority of the Tripoli Free Economic Zone (TFEZ).

Former Minister of Finance, Raya Haffar El Hassan, has been appointed as the Chairperson and Director General of the authority. Other members of the board include Former Minister of Finance Jihad Azour, Ramzi El Hafez (publisher of this website), former chairman of the Tripoli Port Authority Antoine Habib, legal expert Wassim Mansouri, former Mina councilman Rafleh Diab, and attorney Asheer el Dayeh.

The authority is in charge of developing the TFEZ, attracting local and foreign capital and investments, and encouraging bilateral trade. It has the jurisdiction to grant administrative and construction licenses for projects to be developed in the zone. The project was proposed in 2004 and approved by the Council of Ministers and Parliament in 2008.

Hassan said: “Around 500,000 square meters of land will be reclaimed near the port, through a tender by the Council for Development and Reconstruction (CDR).” Land reclamation would be expected to take two years after being contracted. “In the meantime, we will work on setting up the financial and administrative structure of the authority and outline its main duties,” she said.

Hassan said: “This zone will attract investment, grow exports, and improve employment rates. It will also modernize and improve the region’s economy.” The authority will conduct an analysis of the site’s location to determine industries that would benefit most from the TFEZ.
Reported by Yassmine Alieh
Date Posted: Apr 08, 2015
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