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Beirut Governorate

Area Size: 19.8 Km2
Population: 403,339
Labor force: 161,851
Number of Projects that benefited from IDAL’s incentives: 18
Unemployment Rate: 10%
Education: (enrollment rate ): 94.4% 

 

LOCATION AND TOPOGRAPHY:
 

Beirut is the heart of the country. ts strategic location, strong educational and medical services, cosmopolitan character, and its wealth in archeological and cultural heritage has made it historically the hub of the Middle East. The city has been recognized as a hub for commercial, financial, touristic and artistic activities. Recently, Beirut has been rapidly shaping up to be a center for startups in the Middle East. The support infrastructure for entrepreneurs has expanded with several venture capital funds, incubators and acceleration programs.


MAIN ECONOMIC ACTIVITY:
 

  • The economic activity in Beirut is based on the services sector mainly on the financial services with the presence of more than 67 commercial banks, four of them are among Forbes’ Top 100 Arab companies of 2016.
  • More than 58% of ICT Software Development & Services companies are located in Beirut.
  • More than 400 industrial firms are located in Beirut, with 24% of them are involved in agro-food related activities.


COMPETITIVE ADVANTAGES:
 

  • More than 20 universities are available in Beirut including one of the top universities in the Middle East.
  • Around 6 business incubators and accelerators are available to accommodate new start-ups and SMEs through facilitating access to capital, expertise and creating networking opportunities.
  • The presence of Beirut Digital District (BDD), a business park that is designed to host local as well as foreign ICT companies and to provide them with access to advanced IT services and fiber optics infrastructure at reduced rates.
  • 6 Venture Capital Funds (Berythech Fund IILeap VenturesMEVP, IM Capital, Cedrus Ventures and B&Y Venture Partners ) that offer entrepreneurs with seed and growth capital to grow their businesses.
  • The presence of the Port of Beirut which is one of the largest ports on the Eastern Mediterranean and forms a midpoint of Europe, Asia and Africa.
  • Beirut was named Top International City for Food in 2016.


INVESTMENT OPPORTUNITIES:
 

  • Technology:
    • Opportunities exist in Fintech and E-payment solutions as mobile payments are gaining popularity and the number of mobile banking users in the MENA region is expected to reach 82.1 million users by 2017.
    • Biotechnology and E-health solutions are competitive sub-sectors due to availability of skilled talent and synergies with other markets and industries.
    • Investments in R&D facilities and Research Centers to serve multinational and local companies to undertake research and development activities in the agro-food, pharmaceutical and technology sectors.
Get in Touch
Lazarieh Tower, 4th Floor, Emir Bechir Street, Riad El-Solh Beirut, Lebanon, P.O.Box 113-7251
Phone
+961 1 983306 / 7 / 8
Fax
+961 1 983302 /3