Lebanese Entrepreneur Defies Country's Crises with Tech Hub

Lebanese entrepreneur Fadi Daou gestures as he talks with Multilane company's staff at Houmal technology park in Houmal, Lebanon June 11, 2021. (Reuters)
Lebanese entrepreneur Fadi Daou gestures as he talks with Multilane company's staff at Houmal technology park in Houmal, Lebanon June 11, 2021. (Reuters)
TT

Lebanese Entrepreneur Defies Country's Crises with Tech Hub

Lebanese entrepreneur Fadi Daou gestures as he talks with Multilane company's staff at Houmal technology park in Houmal, Lebanon June 11, 2021. (Reuters)
Lebanese entrepreneur Fadi Daou gestures as he talks with Multilane company's staff at Houmal technology park in Houmal, Lebanon June 11, 2021. (Reuters)

His employees struggle to find petrol for their cars to drive to work and he has to offer a unique product to get customers to trade with a company based in high-risk Lebanon, but against all odds Fadi Daou's technology firm is thriving.

The entrepreneur's company, MultiLane, produces testing and measurement equipment for data center infrastructure, and its international clients include Microsoft, Apple, and Google.

"Everything is conceived, designed and built out of Lebanon," said Daou.

As Lebanon battles a financial crisis that the World Bank has dubbed one of the worst depressions of modern history, Daou has had to overcome numerous challenges, for example building his own solar power supply so as not to rely on the state electricity grid. He manages to export his products successfully.

He moved back to Lebanon in 2006, having spent 25 years in the United States. In Nov. 2019, one month after Lebanon's economy began to unravel, he launched Houmal Technology Park (HTP), in his hometown of Houmal, 15 km outside of Beirut, to expand his output.

Global technology companies "select and choose to work with Lebanon knowing that Lebanon is a high-risk country, so we have to offer twice as much in terms of value proposition, in terms of innovation, time to market. We have to work harder," he said.

"We build a high value product that uniquely solves a problem in the industry, so they purchase it from us."

In the past two years, Lebanon has also been through a popular uprising against its political leaders, the global COVID-19 pandemic and a huge chemical blast in Beirut port that killed 200 people and destroyed swathes of the capital.

Its local currency has lost around 90% of its value against the dollar and the crisis has wiped out thousands of jobs and propelled more than half of the population into poverty.

Daou employs 130 mostly-young men and women at MultiLane Lebanon, and plans to hire 25 more employees by year-end.

His goal is to hire more in the coming few years to fight the brain drain resulting from the financial crisis.

"My reward is when a parent calls me or sends me a message saying thank you because my kids are now working, they were going to leave the country but now they are staying," he said.

Hundreds of engineers, academics, doctors, artists and others have packed their bags to seek opportunities abroad as the country hurtles faster towards complete collapse.

"It's an empowering experience... the company really gives a chance for the youth to stay in the country," said Sana Aawar, one intern at MultiLane.

Her colleague Maria Tawil added they felt able to reach their dreams as young engineers wanting to prove themselves.



Lucid Joins 'Made in Saudi' Program

Lucid is the first Original Equipment Manufacturer (OEM) in the automotive sector to receive this distinguished logo - SPA
Lucid is the first Original Equipment Manufacturer (OEM) in the automotive sector to receive this distinguished logo - SPA
TT

Lucid Joins 'Made in Saudi' Program

Lucid is the first Original Equipment Manufacturer (OEM) in the automotive sector to receive this distinguished logo - SPA
Lucid is the first Original Equipment Manufacturer (OEM) in the automotive sector to receive this distinguished logo - SPA

Lucid Motors, a leading electric vehicle manufacturer, has joined the Made in Saudi program, earning the right to use the "Made in Saudi" logo on its products, a symbol of quality, excellence, and customer trust reflecting the Kingdom's dedication to establishing itself as a global leader in innovative manufacturing.
Lucid is the first Original Equipment Manufacturer (OEM) in the automotive sector to receive this distinguished logo. This feat underscores Lucid's ability to produce world-class electric vehicles with Saudi expertise and highlights its role in advancing the Kingdom's automotive industry.
In a statement, Minister of Industry and Mineral Resources Bandar Alkhorayef emphasized that Lucid's inclusion in the Made in Saudi program as the first car manufacturer to feature the "Made in Saudi" logo signifies the Kingdom's strategic transformation towards establishing a comprehensive ecosystem for the electric vehicle sector.

According to SPA, this aligns with the objectives of the National Industrial Strategy, which focuses on empowering key sectors and attracting high-quality investments in advanced industries.
Alkhorayef emphasized that Saudi Arabia has become a key center for producing electric vehicles, supported by modern infrastructure, attractive incentives, and a skilled workforce. He stressed that the presence of major companies like Lucid bolster the Kingdom's position as a global hub for future industries, boosting local content, non-oil exports, and knowledge transfer.
The ministry is committed to creating an investment environment that supports leading companies and enables them to contribute to industrial transformation and innovation, in line with the Kingdom's vision for a sustainable future driven by modern technologies, he added.
Lucid's inclusion in the Made in Saudi program, overseen by the Saudi Export Development Authority, aligns with the program's goals to enhance the appeal of the Saudi industrial sector, boost local product consumption, drive local and foreign investments, support local companies in expanding globally, increase Saudi non-oil exports, and promote economic sustainability.