Industry articles

Futures in question as losses hit Lebanese car importers

Futures in question as losses hit Lebanese car importers

Reading Time: < 1 minute Citing a 91 percent year-on-year drop in registration numbers of new motor vehicles in April 2020, member companies of the AIA Lebanon (Association des Importateurs d’Automobiles au Liban) fear widespread business closures that could lead to losses of about 10,000 direct jobs. Naming financial barriers, the AIA in a letter of alarm points to “impossibility

Holy guacamole

Reading Time: 6 minutes In summer 2018, McKinsey & Company, a United States-based management consulting firm hired by the Lebanese government to design an economic plan for the country, presented their report to government officials. Though the final report has yet to be made public, some details have made their way from government officials into the public sphere. From

Q&A: Vrej Sbounjian

Reading Time: 5 minutes Lebanon’s productive sectors are often short-changed in favor of tourism, real estate and banking. What’s more, Minister of Industry Vrej Sbounjian commands a paltry budget of LL7.71 billion ($5.14 million). In such an environment the nation’s industrialists need a well-informed fighter holding their corner in the Cabinet.  Executive met with the minister to see if

Q&A: Neemat Frem

Reading Time: 5 minutes Neemat Frem is the president of the Association of Lebanese Industrialists, chief executive officer at INDEVCO Group and founder of technology service provider Phoenix Machinery. He recently sat down with Executive to discuss the state of the industrial sector in the face of regional turmoil, high energy costs and the economic downturn in Lebanon. Let’s

Outside the box

Reading Time: 6 minutes To Lebanon’s older generation, Carosserie Abillama is a household name, with ‘Abillama’ stenciled on the back of nearly every truck, tipper, tanker or ambulance in the country. The company, which has been around since 1933, is still at the forefront of trailer manufacturing and other automotive add-ons, although its name does not stand out as

Exports in mayhem

Reading Time: 4 minutes Syrian industry has been seriously hit by the ongoing conflict, suffering from a lack of raw materials, workers, energy and capital amid heightened risk. Multinational companies such as Proctor & Gamble that sold fast-moving consumer goods exited the Syrian market last November when European Union sanctions went into effect. Turkey has not filled any supply

Round-about routes

Reading Time: 3 minutes If the Syrian crisis escalates further and the border with Syria closes, Lebanon would be cut off from the rest of the region with the only way in and out being by sea or air. So far the border has remained open, but the Syrian conflict has already caused a significant drop in cross-border trade

Keeping alight the spark

Reading Time: 8 minutes Lebanese industry has been dealt many a bad card in its recent history. Yet when the sector went through a five-year boom, with exports nearly doubling in value from $2.17 billion in 2006 to $4.059 billion in 2010, it seemed as if industry had finally found some playable hands. The sector could raise the stakes,