The industrial sector will be a core pillar in driving Lebanon’s economic recovery, the new Industry Minister Imad Hoballah said Thursday.
“The industrial sector is a basic pillar of the economy and supporting it will be a priority for the country’s economic development,” Hoballah said at a handover ceremony.
“We must increase production and productivity, improve quality, rationalize costs, reduce prices and develop new industries.”
He added that he will work closely with the Association of Industrialists to secure their basic requirements, and will draw on his own experience in the public and private sector in his work.
At the ceremony, former Industry Minister Wael Abu Faour said that the Lebanese economic system has “failed,” and that the rehabilitation of the industrial sector must be at the heart of any economic recovery plan. “There will be no recovery if industry is not given the status it deserves.”
The Daily Star