COUNTRY FOCUS : LEBANON
Lebanon ’ s multilingual and multicultural society has always been a seat for higher education , innovation and startup businesses , and while regional conflicts are significant challenges for the country , innovation is moving forward in market segments like education and telecom .
Managing macroeconomic c and boosting innovation
Panoramic view to Jounieh city and bay , Lebanon
According to the Investment Development Authority of Lebanon , which is the national investment promotion agency with the aim of promoting Lebanon as a key investment destination , and attracting , facilitating and retaining investments in the country , the ICT sector in Lebanon has witnessed considerable government attention and reform over the last decade , transforming it into one of the most prominent economic sectors .
Its positive growth outlook for the coming years will be fuelled by investments in the telecommunications infrastructure , modernisation initiatives by both the public and private sector , and improvements to the business environment , resulting in greater demand for ICT services .
In 2018 , ICT contributed to around 2.1 % of the Lebanon ’ s GDP , the equivalent of US $ 1.1 billion . The sector ’ s total impact on GDP , whether direct or indirect , is forecasted to reach US $ 7 billion by 2025 .
Currently , the ICT sector in Lebanon accounts for approximately 3 % of GDP and the government is committed to strengthening and retaining local talent while seeking to build on legacy public initiatives such as Circular 3318 to attract new investment in ICT infrastructure and other digital environment projects .
According to the Investment Development Authority of Lebanon , its ICT sector encompasses services and manufacturing , hardware retail , and telecommunications . Around 550 companies are involved in ICT services and
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