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Lebanon reduces custom fees on raw material imports

Lebanon reduces custom fees on raw material imports

BEIRUT (Rahnuma) — Lebanese Industry Minister Wael Abou Faour said on Thursday that the custom fees on raw materials imported by industrialists started to be reduced, local media reported.

“We are aiming at offering all facilities that improve the performance of the industry sector. This new initiative will enable industrialists to compete by reducing their cost of production,” Abou Faour was quoted as saying by the National News Agency.

The minister’s remarks came during a press conference held to sign a memorandum of understanding between Beirut’s port and the Association of Lebanese Industrialists, aiming at reducing fees on imported raw materials through the port.

Abou Faour said that the industry sector is capable of contributing a lot to the economy by creating job opportunities.

He added that his ministry will continue to provide facilities for Lebanese industrialists.

Lebanese industrialists announced on Wednesday a state of industrial emergency in Lebanon, calling upon officials to take quick measures to save the sector from further deterioration.

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