Beirut: Lebanese President Joseph Aoun affirmed that his country is taking steps to encourage, exchange, and protect investments with the member states of the Gulf Cooperation Council (GCC). During his meeting with Wissam Al-Arees, head of the Federation of Lebanese-Gulf Business Council, Aoun expressed his hope that Lebanon would see an increase in the number of Gulf tourists in the coming period.
According to Kuwait News Agency, the Lebanese president praised the role played by the federation in developing Lebanese-Gulf relations and restoring economic ties to their former strength. He emphasized the need to ensure the political, economic, and judicial environment, as well as security and financial stability, to encourage the return of investments to Lebanon. Aoun also highlighted internal steps being taken to restore state authority and revive the national economy, noting that Lebanon received 1.7 million tourists last summer.
Wissam Al-Arees pointed out the economic situation in Lebanon and mentioned that the number of visitors during the holiday season could reach around 400,000, with 20 to 25 percent from GCC countries. He remarked on the significant return of Gulf tourists, especially from Kuwait, the United Arab Emirates, Qatar, and the Sultanate of Oman. The Lebanese-Gulf Councils Federation is coordinating with economic bodies to strengthen relations with GCC countries.
Al-Arees emphasized the importance of restoring GCC countries' confidence in Lebanon, which has progressed during President Aoun's era. He highlighted the federation's efforts to create a favorable business and investment climate, attract Gulf companies to invest in Lebanon, support Lebanese exports to Gulf markets, and increase trade and tourism exchange.
He noted that GCC countries are Lebanon's strategic economic and social depth, suggesting that restoring economic relations to their previous state could lead to economic growth in Lebanon exceeding 10 percent.