Lebanon: IT Sector is Booming

Lebanon has many competitive advantages to develop its own home-made IT industry.

Joe Faddoul, a Lebanese IT entrepreneur talks about the IT sector in Lebanon, expectations from the government, local talent and tremendous growth through which the sector is going at the moment.

According to Mr. Faddoul, “Lebanese market cannot absorb all the IT and thus IT must be exported.”

True to his words, his own company – a leading supplier of core banking and insurance software – BML Istisharat is exporting more than 85% of the services to the U.S., Western Europe, the Middle East and lately to South East Asian markets and Russia.

Commenting on the growth of the Lebanese IT industry, Mr. Faddoul adds that BML Istisharat is growing at 16%-17% annually, which correlates with the industry growth rate of 25%, a figure supplied by Dal Hitti, General Manager of Association of Lebanese Software Industry.

Interview:

Leader in Banking, Insurance and ERP Software Products in Lebanon