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Technology

 

Lebanon has witnessed a surge of high tech companies. These industries, characterized by high growth dynamics, are helping to create various opportunities for pioneering and innovative companies in Lebanon.

 

KEY FACTS AND FIGURES:


  • In 2014, high technology exports accounted for 2% of total manufactured exports, one of the highest shares in the region.
  • ICT Manufacturing: after achieving remarkable successes in ICT services and software applications, Lebanon’s ICT industry is moving up the value chain as opportunities are now emerging in the manufacturing and design of hardware components:
    • In 2016, hardware sales will reach USD 262.2 million, and are expected to grow at a CAGR of 8.3% over the 2016-2019 period.
  • Medical Technologies: Lebanon’s well developed medical and health infrastructure underlies the country’s potential to offer services ranging from research to product and medical applications development:
    • In 2014, health expenditures accounted for 6.4% of Lebanon’s GDP.
    • In 2014, the medical devices market was estimated at USD 240.3 million and is forecasted to reach USD 339.4 million by 2019.
    • Lebanon has the highest ratio of doctors to population (35 per 10,000 people) in the region and one of the highest in the world.
  • R&D potential: Lebanon enjoys a substantial scientific infrastructure and has the capacity to innovate and develop new products whenever investments are made available:
    • Scientific and technical journal articles increased at a rate of 143% from 2003 to 2013.
    • Lebanon possesses 12 higher education institutions that include science and/or technology faculties, and 6 research centers.

 

COMPETITIVE ADVANTAGES:
 

  • Highly skilled and multi-lingual labor force:
    • Lebanon ranks 19th worldwide for the Quality of its higher Educational System, while it occupies the 6th place for Math and Sciences Education;
    • Around 3000 engineers graduate each year;
  • Competitive salary base: the average wage of software engineers is nearly 37% lower than in the GCC and nearly 50% lower than in selected developed economies.
  • Increasing financial support to the sector: the government is providing financial breaks on corporate income tax for companies operating in the sector tax along with administrative and facilitation services.
TECHNOLOGY FACT BOOK 2016
Technology Investment Incentives
INVESTMENT OPPORTUNITIES IN THE TECHNOLOGY SECTOR 2016
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