Who We Are

INTRODUCTION THE BOARD OF DIRECTORS THE ADMINISTRATION ALI'S COUNCILS & COMMITTTEES ALI REPRESENTATION POLICY AGENDA

How The Industrial Sector Can Save Lebanon

Letter from the chairman of borad, Salim Zeenni

Lebanon has been navigating one of the worst socio-economic crises in the world and a proper assessment of what took us down this path is crucial to formulate a strategy that will lead us back to prosperity and growth Decades of economic mismanagement, political instability and a lack of vision has taken its toll on the country. The unmanageable trade and state deficits have resulted in a chronic balance of payment problem. Meanwhile the central bank continued implementing a currency peg of the Lebanese Lira to the US Dollar, in an apparent effort to keep a semblance of stability. The result of these policies has been an indirect subsidy of imports, an increase of interest rates and a crowding out of the private sector. Cost of production was driven to unsustainable levels which, in turn, resulted in more imports, exacerbating the trade imbalance. Subsequent governments and the central bank were basically burning through deposits to sustain a deeply flawed system.

The association has long been lobbying and fighting for the adoption of a more balanced economic model, centered around the productive sectors.

It has released a multitude of position papers and communicated them to all the echelons of government hoping for a change of course before reaching the point of collapse we have dreaded. It is now clear to all, that our approach was not that of a sector looking to increase its profits but rather one that was meant to grow the whole economy, improving every sector in the process.

While we acknowledge the depth of the economic and financial crisis, we also believe we can turn it around.

Lebanon can recover, Lebanon will recover.

Throughout this document, we have tackled the necessary policy reforms to take the country out of its vicious spiral and unto a virtuous cycle. If we implement them swiftly and decisively, the manufacturing sector will rapidly expand, generating GDP growth and creating thousands of jobs in the process. The only way to solve the currency conundrum is by addressing the large trade deficit. We believe that a strong, resurgent sector will be able to exponentially increase its exports while offsetting some of the imports by producing them locally. Lebanon has a limitless manufacturing potential; these policy proposals will unleash it. The private sector, with the industrialists at its forefront, is the only one capable of rebuilding an economy that grows continuously and fairly. An economy that leverages the incredible energy of our youth and their entrepreneurial spirit.

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Introduction

Mr. Salim Zeenni

Mr. Ziad Bekdache

Mr. Georges Nasraoui

Mr. Hassan Yassine

Mr. George Sabounjian

Mr. Mounir Bissat

Mr. Walid Assaf

Mr. Ibrahim Mallah

Dr. Ahmad Jaber

Mr. Ziad Chammas

Mr. Oussama Helbawi

Mr. Joseph Daniel Abboud

Mr. Omar Hallab

Mr. Paul Abi Nasr

Mr. Michel Sayah

Mr. Bassam Mahfouz

Mr. Sakher Azar

Mr. Chaker Saab

Mr. Nazih Riachi

Mr. Mazen Sinno

Mr. Laurent Tufenkjian

Mr. Bernard Tannoury

Mr. Mazen Zeeni

Mr. Marco Kabalan

Mr. Talal Hijazi

Mr. Salim Zeenni

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Mr. Ziad Bekdache

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Mr. Georges Nasraoui

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Mr. Walid Assaf

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Mr. Ibrahim Mallah

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Dr. Ahmad Jaber