Saudi-Lebanese Economic Forum to Start in Beirut

Beirut, October 14, SPA-- The 5th Saudi-Lebanese Economic Forum will
start in Beirut on October 27 with the participation of 200 Saudi and
Lebanese businessmen.
The Forum will be organized by Saudi Council of Chambers of
Commerce and Industry, Lebanese Federation of Chambers of Commerce
and Industry and Economy and Business Group.
In a statement to Saudi Press Agency (SPA), Saudi Ambassador to
Lebanon Ali Asiri emphasized the importance of this forum for the
exchange of ideas between Lebanese and Saudi companies as well as
presentation of the latest investment opportunities and projects in
the two countries.
He stressed that economic cooperation between the two countries
is expected to grow during the next phase, noting that economic
prospects and investment in Saudi Arabia and Lebanon are very
encouraging.
Ambassador Asiri pointed out that Saudi investments in Lebanon
amounted to more than $ 4.8 billion in 2008, which constituted % 39.3
of total Arab investments in Lebanon.
He pointed to Saudi governmental aid to Lebanon, such as a grant
of $ 500 million to assist in reconstruction process after the
Israeli aggression in July 2006, as well as a deposit of one billion
dollars with Bank of Lebanon to promote monetary stability.
--SPA --SPA