23-09-2019

PAM Economic Panel strengthens its cooperation network in Lebanon

PAM Economic Panel strengthens its cooperation network in Lebanon
Hon. Giulio Centemero, Co-Chair of the PAM Panel on Trade and Investments on the Mediterranean, held a series of meetings at the UK LEBANON TECH HUB, from 29 August to 3 September, as part of the follow up actions on the recommendations of the PAM meeting dedicated to “Alternative Capital Markets for economic growth in the Mediterranean” held in Milan, Italy, on 4 and 5 July. 
 
Hon. Centemero was welcomed by the CEO, Mr. Nadim Zaazaa. Established 4 years ago, the UK LEBANON TECH HUB is an incubator for high-tech Start-Ups which, since its inception, already raised 63 million dollars in investments, backed 81 Start-Ups, created two thousand jobs and, at present, holds 224 million dollars per portfolio. 
 
The primary objective of the meetings was the launching of the implementation of the decisions adopted in Milan, particularly to establish: - a Start-ups market - a fund of impact investments and - a regional fund of funds for the Mediterranean countries. 
 
Hon. Centemero and Mr. Zaazaa had the chance to also discuss many other key issues at the heart of a stable and thriving economy in the region. They further analysed the regulatory and financial reforms requested by the markets to develop efficient economic frameworks to achieve a peaceful, inclusive and sustainable economic environment in the Mediterranean basin. The meeting resulted in additional food for thought to be included in the activities of the PAM Economic Panel and to start working at the implementation of the projects approved in Milan. 
 
Hon. Centemero also met Hon. General Chamel Roukoz, Head of the Lebanese parliamentary delegation to PAM. During the bilateral meeting, many critical issues were addressed, such as, inter alia, economic development, counter-terrorism strategies, the fight against crime, and energy policies. “I have listened carefully to Mr. Roukoz's point of view regarding the stability of the area”, Hon. Centemero said, “and I am convinced that peace and stability in the Mediterranean are possible and concretely achievable”. Yet, a lot needs to be done and PAM is a unique parliamentary platform to gather MPs from all over the Euro-Mediterranean region in order to forge political consensus and to work towards a peaceful future.//
 
 
 
 
 
MEDIA INFORMATION:  27/2019
issued on 23.09.2019
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Parliamentary Assembly of the Mediterranean