Madbouly: Lebanon is Going Through a Critical Phase Full of Challenges but It Holds Real Opportunities for Reconstruction

Prime Minister Dr. Mostafa Madbouly stated that Egypt views Lebanon not only as a political partner but as a pivotal and strategic economic partner, affirming that Egypt believes relations between countries are built and maintained when the private sector plays an active role in shaping their future. Madbouly pointed out during his attendance at the economic work meeting held under the title "On the Prospects of Economic and Trade Cooperation Between Egypt and Lebanon" in the Lebanese capital Beirut, with the participation of officials from economic bodies and the Chamber of Commerce and Industry of Lebanon, that the two brotherly countries, Egypt and Lebanon, are keen to support cooperative relations between them in various fields.

The Prime Minister expressed his thanks to the Lebanese economic bodies and the Chamber of Commerce and Industry, and to Mohamed Choueir, President of the Lebanese Economic Bodies, for the warm reception and organization, and for this initiative which reflects the Lebanese private sector's belief in its pivotal role in economic recovery.

He noted that Lebanon is currently going through a critical phase full of challenges, but at the same time it holds real opportunities for reconstruction on firmer and more sustainable foundations. He pointed out that Egypt, which has undergone a comprehensive economic reform experience over recent years, understands the magnitude of the challenges Lebanon faces today and believes that recovery is possible whenever there is will, vision, and effective partnership between the state and the private sector.

In this context, the Prime Minister referred to the strong and successful presence of Lebanese investments in Egypt, explaining that Lebanese investors have formed an active and vital part of the Egyptian economic fabric for decades and have contributed effectively to various vital sectors. He added: These investments are clear evidence of the ability of Lebanese capital to integrate and directly contribute to the growth of the Egyptian market.

The Prime Minister also explained that enhancing economic and trade cooperation between Egypt and Lebanon is no longer an option but a mutual necessity. He pointed out that Egypt has a wide industrial base and accumulated expertise in infrastructure, energy, and manufacturing industries, while Lebanon enjoys distinguished human capital and a dynamic private sector that helps it play a pivotal role in trade and services in the region.

Madbouly added: The volume of trade exchange between Egypt and Lebanon, although it has been continuously growing over the past four years to exceed the one billion dollar mark in 2024, still falls short of ambitions and available potentials. He pointed out that there is a real opportunity to increase the volume of trade exchange by removing procedural obstacles or by encouraging direct partnerships between Egyptian and Lebanese companies, achieving added value for both parties.

The Prime Minister highlighted that the topic of reconstruction in Lebanon gains special importance at this stage, especially in southern Lebanon, where urgent needs arise in infrastructure, electricity, water, roads, and communications sectors. He affirmed in this regard that Egyptian companies, both public and private, possess extensive practical experience in implementing major projects in various fields and are fully prepared to enter into genuine partnerships with the Lebanese private sector to contribute effectively and tangibly to all national development efforts.

He clarified that the discussion is not only about exporting services or products but about a long-term partnership based on knowledge transfer, training of cadres, joint investment, and benefiting from available Arab and international financing for reconstruction and sustainable development projects. He added: We also give special importance to cooperation in the energy sector, whether by supporting traditional electricity projects or expanding in new and renewable energy. He pointed out that Egypt has great expertise in this field that can be utilized to alleviate burdens on the state and citizens and support economic stability.

Madbouly noted that the success of any economic path requires a stable business environment, a clear regulatory framework, and mutual trust between the state and the private sector. He appreciated the role played by the Lebanese economic bodies in defending the interests of the private sector and pushing for reforms that ensure the sustainability of the Lebanese economy.

The Prime Minister confirmed that the Egyptian government is open to working with businessmen, investors, and the brotherly Lebanese government to activate practical cooperation mechanisms, whether through joint committees, business forums, or permanent platforms for communication between investors, ensuring the transition from goodwill intentions to tangible projects.

He concluded his speech by reaffirming that Egypt will remain alongside Lebanon, both state and people, in its path towards recovery and stability, saying: "We believe that the private sector is the real engine of growth, and that if Egyptian-Lebanese cooperation is well invested, it can form a successful model of Arab economic integration," looking forward to fruitful discussions that translate this meeting into practical steps benefiting both countries and the two brotherly peoples.