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[January 2003]
Project Lebanon - Largest Event of its Kind
Project Lebanon - claimed to be the largest construction event in the Middle East - will take place from 13-17 May 2003. Organiser International Fairs & Promotions (IFP) commented that every year the economic growth rates in the Middle East increase, which means that every year the demand in the construction sector reaches new heights across the region.
According to IFP, in Lebanon this growth has translated into billions of US dollars currently being spent on commercial and urban redevelopment projects, fuelled in part by the country's ongoing reconstruction needs, but also spurred on by high population growth rates and, significantly, by an expanding regional tourist sector.
Furthermore, as Syria, Jordan, Saudi Arabia and the Gulf States continue the trend towards private sector development, Lebanon's long-standing position as the West's key entry point into Middle Eastern markets is once again being confirmed.
Modernisation in the Middle East is reported to be being realised in the form of huge spending on all types of public infrastructure across the region with over US$25 billion currently allocated towards the overhaul and expansion of projects on both the metropolitan and municipal levels. In Lebanon alone, the Council for Redevelopment and Reconstruction has allocated US$6 billion for infrastructure renewal, with priority given to environment and water projects.
The World Bank has estimated that the Middle East needs to invest some US$100 billion in environmental protection and rehabilitation projects. With this in mind, governments have dramatically increased spending in this field while private investors are seeking more cost effective ways to manage their businesses. For this reason, says IFP, Project Lebanon 2003 will showcase a massive collection of innovative, non-conventional energy-saving systems from both Lebanon and the rest of the world, including the latest in water and other environmental technologies.
ENDS