Lebanon Summer 2010 Forum ends on upbeat note

BEIRUT: The Lebanon Summer Forum 2010 ended its sessions on Friday with remarks by Health Minister Jawad Khalife, Education Minister Hassan Mneimneh and many others.

Khalife said that the Lebanese health sector witnessed remarkable growth during the past few years.

“Lebanese hospitals are not only visited by Lebanese people but 25 percent of patients are foreigners,” he said. “This shows how successful the Lebanese health sector is when compared to this sector in other Arab countries.”

He said that 95 percent of this sector in Lebanon is managed by skilled Lebanese and noted that numerous health investments in other countries have failed due to the absence of skilled workers.

President of the Private Hospitals Association Suleiman Haroun underlined the importance of the role played by Lebanese private hospitals. He noted that the number of beds in Lebanese hospitals reached 8,000 while the average hospitalization cost reached $200. “In Europe the average cost of hospitalization is $1200,” he said.

He added that new hospitals are under construction in Lebanon while the occupation rate reached 65 percent yearly.

Meanwhile, Mneimneh assured that the quality of education in Lebanon is outstanding and Lebanese universities have a very good reputation.

“The number of higher education students in Lebanon reached 180,000 during 2009-2010 among which 7,000 are foreign students,” he said. He added that universities offer more than 160 majors and have the capacity to attract more students because of the high quality of education they offer.

As for Lebanese banking, secretary general of the Association of Banks in Lebanon Makram Sader said that the volume of the sector reached $121 billion by the end of May 2010 compared to only $45 billion in 2000. He also assured that 66 banks operate in the Lebanese market with 910 branches and 1,237 ATM machines, in addition to 1.7 million credit cards.

A session on real estate saw Ramco founding partner Raja Makarem saying that this sector is flourishing and that there is a great demand for medium sized apartments.

For his part, head of economic research at Byblos Bank Nassib Ghobril said that the reason behind the flourishing real estate sector in Lebanon is the political and security stability. “Lebanese expatriates have also contributed to 60 percent of the real estate demand and the increase in prices,” he added.

source: The Daily Star