It is a pleasure to share with you the Ministry of Industry vision and objectives over the Internet.

We strongly believe that the Lebanese Industry is a promising and viable sector. It has enjoyed, prior to the internal war, very high compounded growth rates and provided a substantial contribution to the country's GDP. Moreover, Industry has always been the main drive behind jobs creation and fostering regional development within the country.

Despite the adversities of the past turmoils that crippled all the productive sectors of the economy, the Lebanese Industry can and will reemerge as a healthy, reinvigorated, high potential sector. The apparent challenges of globalization and open borders can be turned into opportunities for export expansion into broader markets and the development of more competitive industrial segments.

We are committed to spearhead this turnaround effort supported by government authorities at all levels and relying on the proven resilience and entrepreneurial spirit of the Lebanese Industrialists.

Our resolve is translated into a comprehensive and coherent revival plan with ambitious goals, specific action steps and aggressive implementation schedules. The plan's outlines are as follows:

A. Goals of the Ministry of Industry

• Industrial output to rise 15% annually
• Industry's share of GDP to exceed 20%
• Double volume of industrial exports from $700 million to $1.4 billion
• Addition of 50,000 new jobs in the initial phase

• Create additional jobs
• Increase industrial sector's share of GDP
• Improve the standard of living
• Safeguard consumers' interest

• Component 1: Rush program for year 2001
• Component 2: Accelerate institution building
• Component 3: Issue new regulations and incentives for industrial development
• Component 4: Enhance the competitiveness of various industrial sectors
• Component 5: Activate LIBNOR
• Component 6: Expand the role of the Industrial Research Institute
• Component 7: Benefit from international assistance programs

1. Eliminate customs duties levied on raw materials and intermediary goods that are not produced locally.
2. Reduce port handling charges and fees as well as domestic transportation costs to comparable regional levels.
3. Lower the prices of petroleum products - mainly fuel oil and liquid gas for industrial use - to competitive regional levels.
4. Adjust electricity rates for industrial use to competitive international and regional levels.
5. Work on reducing Social Security fees to previous levels.
6. Avail working capital and investment financing at competitive terms and rates. Work as well to reduce the financing elements' cost.
7. Specify and classify industrial zones along with appropriate infrastructure and services, taking best practice from regional setups.
8. Reduce clearing charges on imported goods by simplifying administrative procedures at customs and ports authorities.
9. Speed up the issuing of mandatory international standards for most industrial sectors so as to consolidate production lines, improve returns, and subsequently increase production at lower cost.
10. Ensure that all public tenders are open to Lebanese industries in compliance with prevailing laws and regulations.
11. Update and implement the legal framework that governs the Industrial Warehouse facility.