Joseph Aoun wants to expand Lebanese-Kuwaiti investments beyond existing commercial relations. The president received on 6 November in Baabda Georges Fayyad, chairman of the board of directors of Uniterminals, as well as directors representing the Kuwaiti partners of the company. The delegation presented its oil and storage activities and its development projects in Lebanon.
Lebanese-Kuwaiti investments at the heart of trade
Aoun highlighted the human skills and geographical location of the country. He hoped that Lebanese and Kuwaiti companies would develop joint projects based on the sharing of skills and resources. He also recalled the historical support of Kuwait for Lebanon.
Georges Fayyad and members of the delegation presented the creation of additional jobs as a goal of their development. The Presidency mentions their willingness to increase their investment, without describing any particular project.
Trust as a condition of projects
The President stressed the improvement of the economic environment and the guarantees that could encourage investors. This speech does not announce a Treasury guarantee to Uniterminals. The report does not mention any contract signed, amount, timetable or number of posts.
The meeting thus opens a discussion with identified partners already engaged in the company. The next expected elements are the nature of the investments selected, their financing and the stages in their implementation.
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