Lebanese Prime Minister Nawaf Salam announced Tuesday that a general conference on investment will be held in Beirut in the fall, following a meeting with a delegation from the Lebanese-Saudi Business Council, led by Raouf Abou Zaki.

According to Salam, the conference aims to reignite Arab and international interest in Lebanon. He also stated that efforts are ongoing to lift the travel ban to Lebanon for Saudi citizens and the ban on Lebanese exports to Saudi Arabia, which have been completely halted since 2021.

According to the Prime Minister, Gulf officials, notably the Saudi foreign minister and the Qatari prime minister, expressed their willingness to support Lebanon with investments in various fields while emphasizing the implementation of reforms in the country.

He specified that judicial reform is the main gateway to comprehensive reform that will protect investors and Lebanese citizens, also noting that economic and financial reform is a priority.

Salam also stated that he is facilitating all administrative procedures for the creation of companies and institutions by launching a project to automate administration through the Ministry of State for Technology and Artificial Intelligence.

Business council meeting

Abou Zaki affirmed that Riyadh seeks to reactivate its economic activities with Lebanon. “The Union of Saudi Chambers of Commerce informed us during our recent visit to Riyadh that they noted the necessity of forming the Lebanese-Saudi Business Council on the Saudi side. The Business Council exists on the Lebanese side, but due to prevailing circumstances, it was inactive.”

He also noted that Saudi interlocutors with Lebanese businessmen proposed that the joint Business Council meeting be held in Beirut in June and that the first activities of this Council be a Lebanese-Saudi economic forum. “Once procedures are completed and the travel ban to Lebanon is lifted for Saudis, as well as the ban on Lebanese exports to Saudi Arabia, the wheels will be set in motion on a large scale,” he continued. He finally expressed expectations for “a promising summer with the arrival of the Saudi brothers and the Gulf brothers.”

Relations between Lebanon and Gulf countries have been tense in recent years due to Hezbollah's influence on the political scene. The party was militarily weakened after its last war with Israel and the assassination of its leader, Hassan Nasrallah, in September 2024, prompting Gulf nations to reconsider their position toward Lebanon.