Transparency is the key

Once known as the Switzerland of the Arab World, Lebanon is gradually clawing its way back onto the economic map. Its latest initiative is a web site providing business data on the Levantine state.

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By  John Irish Published  September 8, 2003

Anyone interested in discovering the ins and outs of Lebanese business can now cast their eyes on a new web site launched by the Lebanese Centre for Economic Information, InfoPro, aimed at providing much needed facts and figures on the Levantine state’s economy.

The online portal, www.databank.com.lb, follows a recent report by the International Monetary Fund stating that a lack of reliable economic data was holding back the country’s development.

“This site will endeavour to fill the gap between information needs and what the public sector and a small number of private sector entities are currently providing,” Ramzi Al Hafez, founder of InfoPro told the Lebanese Daily Star.

The 2000 data elements are categorised into 25 sections ranging from agriculture to education and real estate.

According to Hafez, the research was collected from a number of organisations including government agencies, research firms and universities with a view to informing, amongst others, economic researchers, businessmen, international organisations and the general public.

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