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Lebanese investors ready to construct first-class hotels and housing in Belarus

Lebanese investors are interested in such promising spheres of the Belarusian economy as construction and reconstruction of real estate. It concerns the construction of first-class hotels and elite housing, offices and amusement centers, BelTA learnt from Ambassador Extraordinary and Plenipotentiary of Belarus to Syria and Lebanon on concurrent Vladimir Lopato-Zagorsky.

“At present the sides are discussing the possibility to finance the construction of office buildings, a trade center, a four or five star hotel and other projects by the Lebanese partners, - the diplomat noted. – The project of annexation of the Lebanese FransaBank in the Belarusian banking sector is in the final stage. This Lebanese bank and a joint construction company are constructing two office centers in Minsk – Architex and BME Business Center. About $30-40 million is expected to be invested in these projects.”

According to Vladimir Lopato-Zagorsky, the Lebanese businessmen are interested in cellular communications and telecommunications, supplies of potash fertilizers, metal products and motor-tractor machinery, consumer goods and many others to their country.

According to the Belarusian ambassador, the non-stable and explosive situation in the Middle East region has a negative influence on the trade-economic cooperation of Belarus with Middle East countries. If in 2005, the Belarus-Lebanon trade hits $10 million, in 2006 the mutual trade was downed to $3.9 million (the Belarusian export - $3.3 million) because of the second Lebanese war.

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