388 Industrial Plants Closed Down Between 2012 and 2015 in Lebanon

According to a news statement published by the Association of Lebanese Industrialists (ALI), the Lebanese industrial sector has been negatively impacted by the economic slowdown.

The statement puts the decline in the value of the Lebanese industrial sector at around 16% between 2011 and 2015.

In 2012, the value of the industrial sector reached $10.5B but later dropped to $8.8B in 2015 with the sector currently employing 77,678 workers.

The number of industrial plants also fell from 2,365 in 2012 to 1,977 in 2015.

The statement released by ALI quotes Neemat Frem, the CEO of Indevco industrial company saying that the industrial sector should represent 20 percent of the total GDP, although it only stands at 10 percent and that the Lebanese private sector should create 30,000 jobs a year but it only provides 5,000 jobs”.

Leave a Reply

Your email address will not be published. Required fields are marked *