Industry Minister, Imad Hoballah, on Wednesday stressed the paramount importance of the Lebanese industry for economic growth.
"Local industries guarantee foreign exchange by exporting products abroad," he said, reaffirming that the government continues to support the industrial sector while allowing it to be competitive and to increase its export capacity.
During a visit by a joint delegation of clothing manufacturers and fabric merchants, Hoballah added that Lebanese resources and capacities were abundant. "We will continue to support them despite the great challenges, and a decision has been made to convert the Lebanese economy into a productive one; we will not reverse this decision," the Minister corroborated.
He asserted that the agreements, measures, and procedures with the Central Bank, the Association of Banks, as well as the Parliament's approval of the LBP 1,200 billion bill and the allocation of LBP 440 billion to support the industrial sector "will lead to the breakthroughs sought by industrialist."
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