The Beirut One Conference, held on November 18th and 19th at the Beirut Seaside Arena, represents a critical step toward economic recovery. Organized by the Economy and Trade Ministry and the Economic, Social and Environmental Council, this is the first major event of its kind designed to attract investment capital since Lebanon’s economic collapse six years ago.  Economy and Trade Minister Amer Bisat defined the conference's goal: “The conference aims to kick-start discussions around the capital investment program. These are indicative projects that fall within our broader economic reform plans, and we’re inviting investors to come look at them.” He stressed that the immediate focus is on launching the due diligence process, not securing immediate firm commitments.  The government is presenting extensive capital investment plans across vital sectors: power, ports, transport, telecom, social services, industry, and agriculture. Bisat clarified that MOUs are not expected now, acknowledging that substantial investment will take time to materialize. He views the event as an essential invitation to global investors after years of neglect: “This is the beginning of the process... our way of inviting investors to come and explore the opportunities available.”  Interest has been robust, with approximately 900 people registered, a number Bisat called “significantly higher than anticipated.” Crucially, about 150 investors are flying in, representing fifty companies. Major international players, including Goldman Sachs, BlackRock, Morgan Stanley, and PIMCO, are slated to participate, highlighting the conference's high-level draw.  Strong Arab representation is expected from Kuwait, the UAE, Bahrain, Oman, Egypt, and Qatar. Bisat mentioned hopes for a presence resulting from a Saudi initiative, noting that rebuilding ties with Riyadh is an ongoing process. High-level political backing was demonstrated by preliminary meetings held between major investors and President Joseph Aoun and Prime Minister Nawaf Salam.  Bisat described investor sentiment as “cautiously optimistic.” Investors recognize the existing political and economic constraints, telling officials that more reforms are needed before capital can flow, a point the government agrees with. However, they remain “open to discussions, open to thinking through opportunities, and open to doing the due diligence.”  The timing is significant, as the international community remains reluctant to provide official funding, waiting to reach an agreement with the International Monetary Fund (IMF). The conference will also discuss reconstruction projects for southern Lebanon, Beirut, and the Bekaa. While some PPP projects are on the agenda, the focus is on private-sector initiatives, which will have a strong presence on panels to outline opportunities.  Looking ahead, the conference is merely the starting point. Bisat concluded with a commitment to follow-up: “Once we have a sense of investor interest, we plan to hold side meetings in the coming months to follow up and build on these ideas.” This marks the foundational step in a comprehensive strategy to restore confidence and catalyze national revival. (ICE BEIRUT)

Fonte notizia: L'Orient Today