Project Watan: No Restrictions on Local Industry Reforms as a Gateway to Attracting Lebanese and Foreign Investors

Project Watan’s Executive Board held its weekly meeting, chaired by MP Neemat Frem and attended by all members, to discuss the latest developments. The following statement was issued afterward:

• The Executive Board welcomed the renewed openness between Lebanon and Saudi Arabia, expressing great hope for the agreements that will follow, as they will reinforce Lebanon’s role and position, as well as contribute to its economic recovery and revival.
• The Board examined policies aimed at rebuilding state institutions and restoring confidence both domestically and internationally. The attendees stressed that the reforms emphasized by the visiting International Monetary Fund delegation are the gateway to reaching an agreement with the Fund. These reforms include appointing a governor for the Central Bank of Lebanon, amending the banking secrecy law, and restructuring the banking sector. In this context, Project Watan underscored the need for a fair solution to restore depositors’ funds.
• Project Watan argued that a budget that mainly relies on increasing taxes and fees does not meet the expectations of the Lebanese people from this government which should support rather than constrain local industries. The Board welcomed the approval of a draft law to reassess fees in the 2025 budget and to work toward protecting all sectors, as well as citizens, viewing this as a pivotal step in restoring confidence among both Lebanese and foreign investors.
• The Board condemned ongoing violations of the cessation of hostilities agreement, urging the government to continue pressing, in coordination with the international community, for stability. At the same time, the attendees reaffirmed the need for full implementation of all relevant international resolutions. They stressed that adherence to these resolutions - under the authority of the Lebanese state and its military and security forces - would help secure the expected foreign aid and enable Lebanon to reposition itself as a strong and trustworthy player on the global stage.
• The Board expressed regret over the recent events in Syria and called for measures to shield Lebanon from their repercussions. On this occasion, they extended appreciation to the military and security forces, including the Directorate of Intelligence in the Lebanese Army, for their swift action in addressing and eliminating all destabilizing activities, pursuing those involved in acts of violence, maintaining security, and dismantling cells amid strict security measures.