(MENAFN) Lebanon is in the process of easing and cutting custom fees imposed on raw materials industrialists are importing.
Industry Minister Wael Abou Faour affirmed "we are aiming at offering all facilities that improve the performance of the industry sector."
"This new initiative will enable industrialists to compete by reducing their cost of production," the Lebanese industry minister assured.
Faour made the announcement while Beirut's port was set to ink a memorandum of understanding with the Association of Lebanese Industrialists.
The purpose behind the agreement is witnessing a shrink in fees slapped on imported raw materials via the port.
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