Strengths and weaknesses of the entrepreneurship ecosystem in Lebanon and the innovation needs of the country
Berytech Chairman and CEO Maroun N. Chammas was a panelist recently during the Micro Small and Medium Enterprises (MSMEs) Panel Discussion at the Conference on the European External Investment Plan (EIP) held in Beirut on February 6, 2018.
The event was the official presentation of the European External Investment Plan, a new scheme proposed by the European Union to encourage investments in its partner countries of the Middle East and North Africa.
During this conference, the Director of the Directorate-General B (Neighbourhood South) of the European Commission, Michael Koehler, presented the new scheme. His presentation was followed by specific sessions on the challenges facing investments and the way the new scheme could encourage them in three particular fields: Sustainable Energy and Connectivity, Sustainable Cities, and Micro, Small and Medium Enterprises.
Moderated by Gretchen Biery, Senior Adviser for Lebanon – European Bank for Reconstruction and Development (EBRD), Chammas presented during the session the strengths and weaknesses of the entrepreneurship ecosystem in Lebanon and the innovation needs of the country.
The new EIP scheme addresses the main constraints hampering MSMEs development by adopting a differentiated approach. The session discussed the ways to create, in the partner countries, a friendly environment for investors, with a specific focus on innovation. This will result in increased jobs opportunities, especially in countries affected by conditions of fragility, whilst promoting the progressive graduation of businesses from the informal economy, innovation and technological upgrades, and setting up modern and better-connected information societies.
Chammas was joined by Johnny Matta – Senior Officer at the Ministry of Economy & Trade, Romen Matthieu – Managing Partner of the Euromena Fund, and Marc Nader – Data Consult.