Projects worth $7bn awaiting implementation in Lebanon

Bulgarian companies also may take part in tenders

Photo: Ministry of Economy Bulgarian Deputy Minister of Economy Alexander Manolev (R) met with Lebanese Minister of State for Foreign Trade Hassan Mrad.

Bulgarian companies will be able to apply for infrastructure projects worth over $7bn which are to be implemented in the Lebanese Republic, it transpired after the meeting between Bulgaria's Deputy Minister of Economy Alexander Manolev and Minister of Telecommunications and Chairman of the Federation of Lebanese Commerce, Industry and Agriculture Chambers Mohammad Choucair, the press office of the economy ministry reports.

The funds for the projects will be provided under the so-called CEDRE conference and are to be absorbed in the nearest future. It is envisioned to realise infrastructure projects in the spheres of transportation as well as energy and telecommunications.

“In the past decade, a series of large-scale infrastructure projects have been implemented in Bulgaria and the Bulgarian construction companies have amassed vast experience which enables them to work according to global standards,” said Manolev. In his words, the Bulgarian companies can offer expertise in the sectors of energy and telecommunications and will be reliable partners in achieving the ambitious goals set by the Lebanese Republic. Manolev extended an invitation to Mohammad Choucair to visit Bulgaria together with representatives of the Lebanese chambers of commerce and industry to get acquainted with the possibilities for investments and doing business in the country.

Bulgaria will render support to Lebanon as regards expertise in the management of small and medium-size enterprises, management of industrial zones and investments' encouragement. This was agreed between Deputy Minister of Economy Alexander Manolev and Minister of State for Foreign Trade Hassan Mrad. It is planned for a memorandum of understanding to be prepared between the two ministries which is expected to be signed in 2019. The two top officials also discussed reciprocal actions aimed at boosting the bilateral exports and agreed that the geographical proximity and historically-rooted friendship should be put to efficient use and both sides have to work towards manifold increase of goods turnover between the two countries.

Deputy Minister of Economy Alexander Manolev visited Lebanon as head of a business delegation comprising 30 Bulgarian companies. His meetings are part of the programme of the official visit by Bulgaria's President Rumen Radev to the Lebanese Republic.

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