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RSPP managing director Andrey Kuznetsov and a representative of the Investment Development Authority of Lebanon (IDAL) Mr. Walid Elias Hanna met at the RSPP headquarters to discuss trade and investment cooperation between Russian and Lebanese business communities with regard to sectoral and geo-economic interests.
Mr. Hanna said that Lebanon is the only Middle East country that has for a long time considered it a priority to protect foreign investors’ rights. “The Lebanese law protecting investment and private property that has been in place since 1920 is a case in point. During the Soviet period, we had a branch of the Moscow People’s Bank operating in Beirut. Gazprombank has recently opened a representative office”, said Mr. Hanna.
Political stability, that has failed recently in many Middle East countries, has also remained unshaken in Lebanon, - an indication of an attractive investment environment.
Also, Russia and Lebanon have signed a bilateral international pact on investors' rights protection, an additional security safeguard for the businesses.
The meeting was also attended by NP-Capital CEO Andrey Chicherin.