WITH OPEN ARMS
TBY talks to Jamal Itani, Mayor of Beirut, on what the municipal elections mean for the political future of the country and what role the private sector will be playing in that vision.
BIOGRAPHY
An entrepreneur and a public servant, Jamal Itani is the owner of Levant Holding. He previously was president of the Council for Development and Reconstruction from 2001 to 2005, General Manager for Solidere since 2014 to date. He holds a bachelor’s degree in civil engineering from George Washington University and a master’s degree in civil engineering and transportation from the Pennsylvania State University. Itani led the Beirutis List to win the municipal election of Beirut on May 9, 2016.The recent municipal elections injected positivity into the political life of Lebanon. How will this translate into a solution for the political impasse the country has been living for the past two years?
The recent elections demonstrated that the will to develop and to succeed is in the DNA of the Lebanese people. They proved that when there is a will, there is a way, and our will is to truly fulfill our democratic rights and to elect a valuable representative out of the numerous political parties that play a role in the political sphere of Lebanon. Moreover, this election has proven that Lebanon is well prepared to face any election in the upcoming years, and that we can do it in a peaceful and fruitful manner.
At this early stage of your mandate, what will you focus on to further develop the capacities of Beirut?
We put in place the development plan for Beirut 2016-2022, given the six-year mandate I was elected for. The plan is divided into the sectors we want to focus on for the following six years, from environmental issues, solving the transit problems of the city, and improving and increasing green spaces around Beirut, something that has been long overdue to our citizens. We also have a major plan to improve the economy of Beirut. Around 45% of the Lebanese population live or work in the capital; if the economy here performs well, the entire country will perform well, too. We want Beirut to be an expansionary economic platform for the rest of the country, to have spillover effects into less privileged parts of Lebanon. To achieve this, we will implement the necessary infrastructure and we will interact with local traders and players in the Beiruti market. We will embrace a promotional agenda for their businesses so they can attract investors, bring money into the city, and develop commercial capabilities whilst simultaneously solving problems hindering economic activity in the capital.
What is your plan to attract foreign investors and make them focus on Beirut?
A major part of our success will rely on the partnership between the private and public sectors. This is why in major projects like new parking developments or the solid waste management project we will definitely involve the private sector. I have experience in embarking on PPPs in other countries, hence I strongly believe that the private sector has the ability to manage investments and protect their returns, while having higher social indicators and good operational standards that will also benefit the government. In Lebanon, the private sector has traditionally excelled much faster than the public sphere, and we can learn from each other for the benefit of the city. We also need to increase transparency so people feel encouraged to invest in the country, regardless if they live in or outside of Lebanon. If we are good enough to attract the private sector and the Lebanese diaspora, we can talk about developing megaprojects in the city, and this will be crucial for the capital's development.
What changes would you like to see in Beirut by the time you leave office?
I want to make sure that there is a final solution for the solid waste problem that has long affected the lives of thousands of Beirutis. I also want to implement sewage water treatment plants, guarantee the water supply, solve the traffic issues in the city, and implement efficient public transportation. Finally, I consider culture a key component of every society; therefore, I want to make sure that our cultural heritage will be harnessed and accessible to everyone in the city.
WITH OPEN ARMS
TABLE OF CONTENTS
Focus: Lebanese-French Relations
Let’s be Franc
Lebanon shares a close relationship with its former colonizer, both in terms of economic relations and cultural identity among Lebanese. In spite of hardships like the presidential power vacuum and Syrian war next door, the bond is only getting stronger.
read articleFocus: Tripoli Economic Free Zone
The Tripoli Transformation
The Tripoli Special Economic Zone (TSEZ) is one of most ambitious projects in Lebanon at the moment. With an initial cost of USD27 million, it is meant to provide an alternative to the heavily centralized economic activity in Beirut, a new gateway for investments and trade to settle in northern Lebanon, and will transform the image of a long-neglected region.
read articleInterview
Dr. Freddie Baz, Vice Chairman & Group Strategy Director, Bank Audi
TBY talks to Dr. Freddie Baz, Vice Chairman & Group Strategy Director of Bank Audi, on the bank's increase in profits, dealing with currency devaluation, and working to turn the economy into an export-driven one.
read articleReview: Insurance
Life is a Rollercoaster
Unlike many emerging markets, Lebanon enjoys a relatively high insurance penetration rate and strong life segment, buoyed by compulsory lines and bancassurance. Competition remains fierce, however, and reform aimed at encouraging consolidation looks far off.
read articleInterview
Max R. Zaccar, Chairman of Commercial Insurance & President of the Association, Insurance Companies
TBY talks to Max R. Zaccar, Chairman of Commercial Insurance & President of the Association of Insurance Companies, on the resilience of the sector, increasing the already-high penetration rates in the country, and remaining one of the strongest insurance companies in the region.
read articleInterview
HE Arthur Nazarian, Minister, Energy and Water Resources
TBY talks to HE Arthur Nazarian, Minister of Energy and Water Resources, on the potential offshoots from oil and gas explorations, the country's National Energy Efficiency Action Plan, and attempts to increase renewable energy consumption.
read articleInterview
Wissam Zahabi, Chairman, Board of the Lebanese Petroleum Administration (LPA),
TBY talks to Wissam Zahabi, Chairman of the Board of the Lebanese Petroleum Administration (LPA), on making the investment climate attractive for foreign companies and becoming self-sufficient in energy.
read articleFocus: Sovereign Wealth Funds
Gas Pipe Dreams
Despite excitement over exploration of Lebanon's hydrocarbons, the creation of a sovereign wealth fund, which was included in legislation, has yet to take place. The country faces several obstacles in its path to creating and properly managing a fund.
read articleInterview
Pierre El Khoury, General Director, Lebanese Center for Energy Conservation (LCEC)
TBY talks to Pierre El Khoury, General Director of the Lebanese Center for Energy Conservation (LCEC), on the development of energy efficiency in Lebanon, awareness of energy conservation, and the country's 2020 renewable energy goals.
read articleInterview
Dr. Fady Gemayel, President, Association of Lebanese Industrialists (ALI)
TBY talks to Dr. Fady Gemayel, President of the Association of Lebanese Industrialists (ALI), on the group's work to promote industrialists, new developments in terms of industrial cities, and the future of industry in the country.
read articleFocus: Industrial Cities
Industrial Solution
Domestic and regional events have stifled Lebanon in building a strong national industry to protect and sustain its economy. Four proposed industrial zones throughout the country may provide it with the economic backbone it so desperately needs.
read articleInterview
Marianne Hoayek, Director of the Executive Office, Banque du Liban
TBY talks to Marianne Hoayek, Director of the Executive Office of Banque du Liban, on the roots of the Circular 331 concept, bridging funding gaps throughout the startup lifecycle, and the country's growing knowledge economy.
read articleRoundtable
Thinking It Through
On June 12, TBY and the American-Lebanese Chamber of Commerce (AmCham) organized a roundtable titled “Startup ecosystem sustainability: fostering cooperation to drive entrepreneurship." The participants discussed the impact of Circular 331, an initiative by Bank du Liban, the Lebanese central bank, to inject a potential of USD400 million into the local enterprise market and guarantee 75% of banks' investments in startups and startup support.
read articleFocus: Infrastructure for the startup ecosystem
The New Star
Startups are ubiquitous in Lebanon despite the difficulty of starting a business and the lack of services available to new businesses. However, a number of actors, both public and private, are innovating the environment and allowing startups to fulfill a greater role in the country's economy.
read articleFocus: Maritime Exports Bridge
Bridging The Gap
The conflict in Syria has wrought serious damage on the Lebanese economy, effectively closing off the country's trade routes through Syria. However, a new program geared at balancing the price disparities between land and sea transit is poised to help Lebanese industries.
read articleFocus: Real Estate
A Stimulus For The Rest Of Us
The real estate market in Lebanon is nothing like it used to be. The sector has slowed considerably, and demand has shifted from the traditional center, Beirut. However, stimulus packages from the central bank over the years have proven beneficial for all parties involved.
read articleInterview
Armand Pahrés, President, Lebanese Pharmaceutical Importers Association (LPIA)
TBY talks to Armand Pahrés, President of the Lebanese Pharmaceutical Importers Association (LPIA), on the development of legislation in the sector, boosting further innovation, and opportunities for Lebanon to become more self-sufficient in pharmaceuticals.
read articleFocus: Incentives for pharmaceuticals in Lebanon
Pharma Land
Lebanon has always been the region's leader in all things health related. Its pharmaceutical industry is no exception, and the country's incentives for international pharma companies to operate, manufacture, and distribute in Lebanon are only getting stronger.
read articleInterview
HE Elias Bou Saab, Minister, Education and Higher Education
TBY talks to HE Elias Bou Saab, Minister of Education and Higher Education, on the ministry's initiatives to improve the education system, ensuring access to education for Syrian refugee children, and reversing the brain drain in the country.
read articleInterview
Mohamed Harajli, Provost, American University of Beirut (AUB)
TBY talks to Mohamed Harajli, Provost of the American University of Beirut (AUB), on his upcoming plans for the university, the key role played by the AUB alumni, and fostering an entrepreneurial spirit among students.
read articleFocus: Programs to school Syrian refugee children
High Marks
Proportional to its population, Lebanon has taken in significantly more Syrian refugees than any other country. With the country now facing the problem of placing the tens of thousands of Syrian children in school, international donors and local and foreign organizations are making educational support a priority.
read articleInterview
Joseph G. Jabbra, President, Lebanese American University (LAU)
TBY talks to Joseph G. Jabbra, President of the Lebanese American University (LAU), on embracing technology at the university, the challenges of Lebanon's brain drain, and the importance of having international links with other institutions.
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