Investment Law in Lebanon: Law 360 Investment Law of Lebanon in Practice
Nabil Itani, Chairman and General Manager of Investment and Development Authority of Lebanon (IDAL), says that “Law 360 Investment Law of Lebanon was enacted in 2001. Over these ten years we have noticed in our practice of this law that there is a demand in some areas…”
Nabil Itani, Chairman and General Manager of Investment and Development Authority of Lebanon (IDAL), says that “Law 360 Investment Law of Lebanon was enacted in 2001. Over these ten years we have noticed in our practice of this law that there is a demand in some areas, because our law has two main aims: job creation and balance development. After practicing the law for ten years we have noticed that the huge projects, or 80% of these projects, are located in Beirut and Mount Lebanon, which is close to the capital Beirut.”
Based on the practice IDAL proposes enhancements of the decrees in the 2 main areas:
1, to widen the span of sectors included in the law,
2, to encourage more investments in the rural areas.