Italian envoy says Italy investing in Lebanon's private sector

Source: Xinhua| 2019-05-03 19:24:01|Editor: xuxin
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BEIRUT, May 3 (Xinhua) -- Italian Ambassador to Lebanon Massimo Marotti said Friday that Italian companies have started investing in Lebanon's private sector, local media reported.

Marotti's remarks came during the opening ceremony of Meta Lebanon factory in cooperation with Italian Ave Spa, an electric equipment manufacturer in Italy.

"This new investment in Lebanon reflects the Italian interest in the Lebanese private sector and this also paves the way to more productive investments in the country," Marotti was quoted as saying by Elnashra, an online independent newspaper.

Marotti also noted that his country will contribute in funding the creation of industrial zones in Lebanon in a bid to create job opportunities for the youths.

"Italy will take part in this developmental project in cooperation with the European Investment Bank and the International Investment Bank," Marotti said.

Italian Prime Minister Giuseppe Conte announced upon his visit to Lebanon last February that Italy is ready to invest in Lebanon and Italian companies are willing to offer their expertise to their Lebanese counterparts.