Lebanon’s prime minister says security is key to attracting investment

By Muhammed Ata and Mohammad Sio

ISTANBUL (AA) - Lebanese Prime Minister Nawaf Salam said Saturday that attracting investment to Lebanon hinges on providing security and stability.

Speaking from the Lebanese Embassy in Paris, Salam said: “If security and safety are not available in Lebanon, investments will not come. And if there is no reform of the banking sector, investments will not come either,” according to the National News Agency NNA.

Salam’s remarks came a day after he briefed French President Emmanuel Macron on the details of Lebanon’s draft financial gap law during talks at the Elysee Palace.

Salam said Lebanon has entered a new phase in its relationship with the International Monetary Fund, adding that he presented Macron with details of the Financial Gap Law.

The draft legislation, approved by the government late last year, seeks to restructure Lebanon’s debt burden by setting a framework to distribute losses among the state, the central bank, commercial banks and depositors following the unprecedented 2019 financial collapse.

On a donor conference planned in Paris in March to support the Lebanese army, Salam said efforts are underway “to broaden the group of contributing countries.”

“I cannot guarantee the success of the conference,” he said, “but we are unifying efforts to support the armed forces.”

Friday talks between Salam and Macron covered preparations for the March 5 conference to support Lebanon’s army and security forces and ways to ensure its success, according to Lebanese officials. Both sides underscored the Lebanese army’s achievement in extending its sole authority south of the Litani River.

They also reaffirmed the need for full implementation of the ceasefire deal between Lebanon and Tel Aviv that took effect in November 2024 and praised the role of the monitoring mechanism overseeing the agreement. Salam said the committee’s role has not ended and noted that civilian representation could be expanded if needed.

The mechanism was created under the ceasefire agreement to oversee implementation. It brings together military representatives from Lebanon, France, Israel and the US, alongside the UN Interim Force in Lebanon.

The ceasefire ended more than a year of attacks that killed more than 4,000 people and injured 17,000 against the backdrop of Israel's war in the Gaza Strip.

The Israeli army was supposed to withdraw from southern Lebanon last January under the ceasefire, but instead only partially pulled out and continues to maintain a military presence at five border outposts.