Dr. Fouad Zmokhol and Dr. Talal Abu-Ghazaleh, Chair the First MIDEL Board of Directors 2022 Meeting

Dr. Zmokhol: “Our goal is integration, engagement and building synergies with regional and international companies to attract financial resources as well as fund and develop our companies.”

Board of Trustees Chairman, Dr. Abu-Ghazaleh: “I am fully confident that the salvation of Lebanon can be achieved through a process of re-development aided by the private sector.”

AMMAN - Le Mouvement International des Chefs d'Entreprises Libanais (MIDEL), headed by Dr. Fouad Zmokhol, and the Chairman of the Board of Trustees, Dr. Talal Abu Ghazaleh, held its first 2022 meeting  in the presence of members of both the Executive Board and members of the International Advisory Board and the Board of Trustees. During the meeting which highlighted the most prominent stages of 2021,  members of the Board of Directors spoke, individually, on their sectors, visions, and strategies for the year 2022.

The Board of Directors considers “2022 as the year of reaping the expected economic benefits in Lebanon, and that any postponement of such plan will be harmful for  the country, its people, and its economy.”

At the end of the meeting, Dr. Fouad Zmokhol, Midel President said, “The year 2021 witnessed humiliation for Lebanon and the Lebanese, and the systematic and intentional deterioration of all its sectors.”

“The state cannot provide the minimum infrastructure necessary for business, which is electricity, telecommunications, and Internet services, all of which are declining day by day and are in danger of a complete shutdown. Therefore, Midel stresses the importance of BOT projects to improve services provided to the citizens, without the state losing its properties. On the other hand, we are confident that manipulation and modification in the exchange rate is a political matter par excellence and does not follow any economic, financial, or monetary rules.”

For his part, Dr. Talal Abu-Ghazaleh, Chairman of the Board of Trustees, stated: “We are convinced that Lebanon cannot exit this dark tunnel without an integrated project with the International Monetary Fund (IMF), but we are also fully aware that negotiations with the IMF may end up being protracted and difficult before any financial resources can be released. Consequently, the only solution for re-development is the existence of a productive and active private sector that works to restore the economic cycle and the investment movement to normal levels. Moreover, necessary reform can be achieved through digital transformation and e-government to facilitate business and open up to the world.”

The attendees concluded the meeting by agreeing that “in 2022, our priority, as Lebanese and international businessmen and women in the world, will be integrating and engaging with local, regional and international companies to confront the crisis, open up to the rest of the world, and attract financial resources.” On the other hand, they emphasized, “Our goal is exporting our knowledge, successes, and goods to countries that deal with foreign currencies, and at the same time, focus on  countries, whose economy does not depend on the dollar, so that they can import raw materials at a lower cost. Lebanese companies must open their capital to attract investments and funding.”Dr. Abu Ghazaleh said, adding:

“There is no doubt that we have to build a new economy and a solid economic cycle. What we ask from the political movement is a minimum level of stability, internal consensus to avoid dragging the economy into politics, and electoral disputes.”