I was deeply moved by a series of calls I received from several friends in the Arabian Gulf countries, specifically from Saudi Arabia, Kuwait, Qatar, and the United Arab Emirates. All of them are prominent businessmen who have invested in Lebanon, known for their affection for the country and its people, and their continuous interest in exploring new investment opportunities here.
The core of these communications centered on their frustration over the difficulties and complications they are encountering in Lebanon. These challenges are now pushing some of them to consider either liquidating a portion of their current investments or refraining from launching new ventures in the country.
This situation stems from the regulatory hurdles and obstacles they face - issues that relevant Lebanese state officials should be highly attentive to and actively addressing. There is an urgent need to eliminate these barriers and make serious efforts to boost Lebanon's investment environment, ensuring it becomes favorable, attractive, and accessible for new capital. Furthermore, proactive steps must be taken to provide essential facilitation to Arab counterparts, encouraging them to seize new investment opportunities. Such measures would ultimately enable them to contribute to creating much-needed jobs for Lebanese citizens while strengthening the mutual interests between Lebanon and these sister nations.
In this regard and within this context, the difficulties faced by prominent Emirati businessman Khalaf Al Habtoor in Lebanon serve as a primary case in point. Al Habtoor initially suffered the loss of a portion of his bank deposits in Lebanon - a hardship shared by many Lebanese citizens. Regrettably, persistent procrastination, hesitation, confusion, and a lack of direction continue to prevent Lebanese officials from reaching reasonable, convincing, and equitable solutions to this intractable and dangerous crisis.
Beyond financial losses, Al Habtoor has been subjected to significant harassment, escalating to verbal assaults and threats. Such treatment is fundamentally uncharacteristic of the Lebanese people and remains entirely unacceptable when directed at Arab counterparts. Consequently, these actions have dampened their enthusiasm and restricted their willingness to contribute toward helping Lebanon navigate its growing crises.
These practices collectively reached the attention of senior Lebanese officials, yet failed to prompt any communication, driving Al Habtoor to close several establishments he had founded in Lebanon. This move resulted in the layoff of several hundred employees at those institutions.
On another note, it is worth highlighting that Al Habtoor had taken the initiative many years ago to establish a major healthcare facility in the Harrar area of Akkar, a region considered the most marginalized in Lebanon. Additionally, he consistently made sure, on numerous occasions and during the difficult circumstances Lebanon endured, to provide relief aid across multiple regions as an expression of his affection and support for Lebanon and the Lebanese people.
Oddly, no Lebanese official has taken the initiative to contact Al Habtoor as they should have, nor have they looked into his complaint, examined his grievances, or shown any sensitivity toward the problems he faces in Lebanon. Consequently, there has been no initiative to work, as much as possible, toward addressing these issues he has faced - even at a bare minimum level, following the popular adage, "welcome me warmly rather than feed me."
Under the difficult circumstances that Lebanon has endured and continues to face, the country is in dire need of initiatives that encourage Arab investors to explore new investment opportunities in our nation, making the provision of facilities to them a necessity. These initiatives and remedies must focus on removing the obstacles that confront both current and potential investors, as part of a fundamental effort aimed at improving and facilitating the investment climate in Lebanon.
In this regard, it might be beneficial for Lebanese officials to consider and announce the establishment of a dedicated small cell or unit acting as an open window within the IDAL institution. This unit would be accessible to both current and potential investors, tracking the issues and complaints raised by Arab counterparts. It would then relay these complaints in a structured and organized manner to relevant officials, particularly within the concerned ministries, to work toward resolving them as much as possible.
This approach could also involve bringing these issues, cases, and problems to the attention of the Lebanese prime minister to address them, find effective and appropriate solutions, prevent their escalation, and mitigate their severe repercussions and consequences on Lebanon and the Lebanese economy. Will anyone take the initiative?
