'Lebanon does not ask for compassion but for trust,' Aoun tells foreign investors

BEIRUT — President Joseph Aoun on Tuesday called on both local and international investors to invest in Lebanon during the “Beirut One” conference, aiming to strengthen the partnership between the state and the private sector.

“Lebanon does not ask for compassion but for trust,” said the head of state, inviting foreign investors present at the conference to “seize the opportunity” while stressing that their presence constitutes “an investment in the stability and future of the country,” according to remarks reported by the state-run National News Agency (NNA).

“Some may ask: why now? How can we hold an investment conference amid a security, economic and political crisis? The question is legitimate. But the answer is clear: we do not build the future when the storms die down; we create calm through action,” he said, adding that “it is actions that change the course of events.”

Joseph Aoun, in this perspective, defended his record since taking office last January, stating that the country has “embarked on a genuine course of reforms” intended to rebuild the state “on solid foundations” and to “restore the confidence of international partners.”

He assured that his government has adopted laws “reinforcing transparency and accountability” and launched efforts to “reactivate oversight bodies,” so that Lebanon may regain its “natural role as an economic and cultural actor in the region” and prioritise “competence over clientelism” within the public administration, so that Lebanon can regain its “natural role as an economic and cultural actor in the region.”

Acknowledging that these reforms “face internal resistance, because real change affects entrenched interests,” he said that growth can only be built on a “partnership between the public and private sectors.”

Reassuring investors

Regarding the security situation, the Lebanese president said the authorities are working to “strengthen internal security” in order to reassure investors.

Despite ongoing Israeli strikes in the south — in violation of the November 2024 truce with Hezbollah — participation in the conference does not appear to have been affected, and investors remain willing to come to Lebanon.

With a strong Arab presence at the event, including delegations from Kuwait, the United Arab Emirates, Bahrain, Oman, Egypt and Qatar, the president reaffirmed “Lebanon’s openness to its Arab and international environment.”

Aoun thanks Issa and the Saudis

He also welcomed the presence in Beirut of “our Saudi brothers, participating for the first time in a Lebanese event of this scale after a long absence — long enough for Beirut to feel their absence.”

Relations with the kingdom have been strained for nearly a decade, largely due to Hezbollah’s involvement in the wars in Syria and Yemen. In 2021, Saudi Arabia banned its citizens from traveling to Lebanon and suspended all Lebanese imports after a diplomatic crisis partly fueled by repeated drug smuggling attempts — especially Captagon — to the Gulf.

Last Thursday, a senior Saudi official told Reuters that the kingdom plans to soon strengthen its trade relations with Lebanon, after Lebanese authorities demonstrated greater effectiveness in curbing drug smuggling to Saudi Arabia in recent months. The announcement was warmly received in Beirut.

The president concluded his speech by thanking the new U.S. ambassador, Michel Issa, for attending the event.

“Your appointment and your presence today are a very significant gesture by President Donald Trump toward Lebanon,” Aoun said. Issa had presented his credentials at the presidential palace the previous day.

Scheduled over two days, Tuesday and Wednesday, at the Beirut Seaside Arena, the “Beirut One” conference — described by its organizers, the Economy and Trade Ministry and the Economic, Social and Environmental Council (CESE), as a platform to attract investment capital to Lebanon — is the first such event since the country’s financial and economic collapse six years ago.

“The conference aims to launch discussions around the government’s capital investment program — indicative projects that fall within our economic reform plans,” Economy and Trade Minister Amer Bisat told L’Orient-Le Jour.

Around 900 people have registered and roughly 150 investors are expected to attend. In total, about 50 companies will take part, including major international players such as Goldman Sachs, BlackRock, Morgan Stanley and Pacific Investment Management Company LLC (Pimco).