BEIRUT, April 19 (Xinhua) -- Fadi Gemayel, president of the Association of Lebanese Industrialists, said on Friday that Chinese companies are invited to start industrial businesses in Lebanon.
"This will be of great help to the economy because it will create lots of job opportunities for the Lebanese youths," Gemayel told Xinhua in an interview.
Gemayel called upon authorities to invite Chinese companies to open factories in Lebanon by manufacturing products that are not yet produced by Lebanese industrialists.
The industrialist told Xinhua that Chinese companies have multiple opportunities to produce different kinds of products that are necessary for the reconstruction of Syria.
He added that Chinese companies' expansion to Lebanon is of mutual benefit for both countries.
"We have a business-friendly environment compared with other countries in the region," he said.
Creating industrial businesses will also provide job opportunities in other sectors such as services, banks, insurance and transportation, Gemayel pointed out.
He explained that Lebanon suffers from a high unemployment rate burdened by Syrian refugees.
"We have an unemployment rate between 25 percent and 36 percent among young people," he said.
Gemayel noted that there are two main problems facing the industry sector in Lebanon: the high cost of energy and the smuggling of products from nearby countries competing with local products.
"The government has promised us to handle these issues. We are waiting for anti-dumping measures to be implemented by the government," he said.
Another problem, Gemayel added, is the operation of illegal factories at low costs.
Lebanese industrialists announced less than two months ago a state of industrial emergency in Lebanon, calling upon officials to take quick measures to save the sector from further deterioration.
