BEIRUT, July 4 (Xinhua) -- Lebanon's Tripoli Special Economic Zone (TSEZ) has made a lot of achievements in the past three years, said former Finance Minister Raya Al Hassan on Wednesday.
Hassan's remarks came during a session at the Chamber of Commerce, Industry and Agriculture in the capital Beirut over the importance of TSEZ and how it aims at contributing to the local economy.
TSEZ is a very promising platform for business in Lebanon, as it represents a gateway to investment opportunities that would improve economic growth while activating the economy in the north by creating hundreds of job opportunities, said Hassan, also the director of the authority of the Tripoli Free Economic Zone.
According to the website of the High Council for Privatization, the TSEZ is the first project of its kind in Lebanon to develop a multi-use economic zone complete with all required infrastructure and utilities.
Adjacent to the Port of Tripoli, the 55-hectare site boasts many logistical advantages, and will provide a streamlined and transparent business environment, develop state-of-the-art infrastructure services to attract local and foreign investors, and expand Lebanon's export potential.
"The TSEZ is expected to be a catalyst for the sustainable economic growth of Tripoli and the northern Lebanon," the council said.
Nevertheless, Hassan said the committee in charge of the special zone still has a lot to do to turn the project into a hub for economic development in Lebanon despite all the achievements.
"We have a lot to do to turn TSEZ into a hub for development and into a project capable of increasing industrial exports and creating job opportunities," the former minister said.
Meanwhile, she praised Prime Minister-designate Saad Hariri for approving the creation of a knowledge and innovation city at Rashid Karami International Fair Complex in Tripoli.
Mohamed Choucair, head of the Beirut Chamber of Commerce, Industry and Agriculture, agreed with Hassan's comments about the new knowledge and innovation city, saying he hopes it will be achieved soon.
The TSEZ will play a big role in activating the different sectors of the economy, while it will constitute a platform for investment and production due to its strategic location, he noted.