Human resources: Lebanon is known for its young, high skilled, educated and multilingual Arabic, English and French workforce. Labor costs are low with a skilled resourceful workforce. Rebuilding Syria: Lebanon is going to be the hub for re-building Syria, goods movement to the region and is now seen as one of the most secured countries in the region in all means.
Oil and Gas: The future is promising due to many factors such as; the Oil and gas reservoirs found off shore which will affect the economy with a significant boost. Private hospitals are usually very good with the latest facilities and technology Rich History and Culture: Throughout history, Lebanon has been a contact center between various cultures and civilizations, rendering it a highly cosmopolitan country High Quality of Life: Lebanon offers a wide variety of tourism attractions and activities all year round in natural scenery from beautiful beaches to mountains and valleys.
With its ambiance of hospitality and warmth, Lebanon served as the business, cultural, academic and touristic center of the MENA Lebanon as a hub: The Lebanese Diaspora worldwide are entrepreneurs and business people that proved very successful, in all kinds of sectors and contexts. Donors have repeatedly promised funds if Lebanon embarks on reforms to address the root causes of the collapse , including steps to combat corruption in government.
But instead of doing the necessary, Lebanon's sectarian politicians, many of whom fought in the civil war, remained at loggerheads over seats in a new government for over a year before Friday's breakthrough.
Adversaries of President Michel Aoun, a Maronite Christian, accused him and his faction, the Free Patriotic Movement, of obstructing the process by demanding effective veto power in the new government.
Aoun repeatedly denied making this demand. The row had sectarian dimensions, with Sunni politicians including former prime minister Saad al-Hariri accusing Aoun of trying to undermine the post of prime minister, reserved for a Sunni. Mikati on Friday assured Lebanese that the cabinet would put aside political bickering and focus on the task ahead. Elections next spring, which Mikati pledged on Friday would take place on time, further complicate the process, political sources say, with factions more focused on preserving their seats than rescuing Lebanon.
A decision by Hezbollah, which repeatedly called for the urgent formation of a new cabinet, to import fuel from Iran added another layer of complexity to the political scene.
The group's opponents accuse it of further undermining the state and exposing Lebanon to the risk of U. In the meantime, the chaotic management that existed before the explosion and probably contributed to it remains unreformed. He is a billionaire who faces charges over corruption. Reform is contrary to their nature and business interests.
Even by global standards of corrupt and irresponsible governments, Lebanon is a standout. If Lebanon had suffered a natural disaster, international aid would have come quickly as indeed some did after the port explosion. If it were at war, the response would probably be more hesitant, but in theory there are mechanisms like UN peacekeepers or international coalition of troops that can be dispatched. Often these mechanisms fail and fail miserably, but in the face of human suffering on a mass scale, the world at least tries to impose a solution.
As a result, the suffering of ordinary Lebanese is less apparent than if they were coping with an earthquake or a tsunami or urban warfare. However, the debacle unleashed a surge of discontent that had been simmering in Lebanon for years.
Tens of thousands of Lebanese took to the streets, leading to the resignation of Western-backed Prime Minister Saad Hariri and his unity government. Protests cut across sectarian lines - a rare phenomenon since the country's devastating civil war ended - and brought the country to a virtual standstill. Newly appointed Prime Minister Hassan Diab subsequently announced that Lebanon would default on its foreign debt for the first time in its history, saying its foreign currency reserves had hit a "critical and dangerous" level and that those remaining were needed to pay for vital imports.
In the wake of the first Covid deaths and a surge in infections, a lockdown was imposed in mid-March to curb the spread of the disease. On the one hand, it forced anti-government protesters off the streets, but on the other, it made the economic crisis much worse and exposed the inadequacies of Lebanon's social welfare system.
Many business were forced to lay off staff or put them on furlough without pay; the gap between the Lebanese pound's value on the official and black-market exchange rates widened; and banks tightened capital controls. As prices rose further, many families were unable to buy even basic necessities.
Growing economic hardship triggered fresh unrest. In April a young man was shot dead by soldiers during a violent protest in Tripoli and several banks were set ablaze. By the time the coronavirus restrictions began to be lifted in May, the prices of some foodstuffs had doubled and Mr Diab warned that Lebanon was at risk of a "major food crisis".
Most analysts point to one key factor: political sectarianism, or groups looking after their own interests. Lebanon officially recognises 18 religious communities - four Muslim, 12 Christian, the Druze sect and Judaism.
The three main political offices - president, speaker of parliament and prime minister - are divided among the three biggest communities Maronite Christian; Shia Muslim; and Sunni Muslim, respectively under an agreement dating back to Parliament's seats are also divided evenly between Christians and Muslims including Druze. It is this religious diversity that makes the country an easy target for interference by external powers, as seen with Iran's backing of the Shia Hezbollah movement, widely seen as the most powerful military and political group in Lebanon.
Since the end of the civil war, political leaders from each sect have maintained their power and influence through a system of patronage networks - protecting the interests of the religious communities they represent, and offering - both legal and illegal - financial incentives.
Lebanon ranked th out of countries being the worst on Transparency International's Corruption Perceptions Index.
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