Economy and Trade Minister Amer Bsat at a press conference on Sep. 30. (Credit: Archive photo/ NNA)
Lebanon’s Minister of Economy and Trade, Amer Bsat, said on Saturday that “there is an initiative from the Saudis to participate in the Beirut One investment conference,” scheduled for Nov. 18–19 in Beirut to attract private-sector capital. He described the prospect as “the beginning of a path and a very positive development.” Charles Arbid, president of the Economic and Social Council, confirmed Saudi Arabia’s “principled” participation, which a source said is the result of lengthy negotiations with Saudi partners.
Speaking on the LBCI program Naharkon Saïd, Bsat called the conference “a sign of success” and described Saudi participation as “very healthy.” “Our relationship with Saudi Arabia is organic and sentimental. The transformations, including stricter port controls, show that the right path has begun,” he added. A senior Saudi official told Reuters that the kingdom plans to strengthen trade ties after seeing Lebanon’s effectiveness in combating drug trafficking.
“The conference aims to break stagnation and disconnection, and to reconnect Lebanon economically with its Arab environment, its diaspora, and our Arab brothers. We want to create a new narrative about the country,” the minister said. “Beirut One shows that Lebanon is not just a country that begs or negotiates with donors and the IMF, but a country with its own private sector and investments,” he added.
“In this context, Lebanon’s relationship with its Arab brothers remains a fundamental element of any economic vision, through existing or future cooperation, to serve common interests and strengthen regional stability,” Minister of Economy and Trade Amer Bsat added.
The Beirut One conference, organized by the minister and the Economic and Social Council, is set to bring together the local private sector, the diaspora, and international partners to secure investments and support the country, which has been in crisis since late 2019 and is seeking to rebuild areas destroyed by Israel during its last war with Hezbollah. The conference coincides with the visit of Saudi Crown Prince Mohammed bin Salman (MBS) to the United States, where a joint U.S.-Saudi investment forum will also take place.
In public debate, many voices point out that foreign investments will remain limited as long as Lebanon does not reach an agreement with the IMF, which would condition the release of financial aid on the implementation of reforms that the country has struggled to carry out since its 2020 default.
CGTL welcomes Saudi rapprochement
On Saturday, Beshara Asmar, head of the General Confederation of Workers in Lebanon (CGTL), welcomed the prospect of concrete rapprochement between Saudi Arabia and Lebanon after years of strained relations, amid tensions with Iran and Hezbollah influence, a context reshaped by the Gaza war, the election of Joseph Aoun to the presidency, the formation of the Nawaf Salam government in early 2025, and regional upheavals.
“This would allow the resumption of Lebanese exports and bring economic relief to several sectors,” Asmar said in a statement to the official National News Agency (NNA).
Saudi Arabia had suspended imports of Lebanese fruits and vegetables in April 2021 after more than five million Captagon pills, an illicit drug, were discovered. Although other Gulf countries did not impose restrictions, Saudi Arabia serves as the main transit hub, causing significant revenue losses for Lebanon.
“The Kingdom has spared no effort in supporting Lebanon internationally, economically, and politically,” Asmar said, expressing hope that this reopening will also include lifting the travel ban for Saudi citizens, which has been awaited for months.
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