Mr. Nicolas Boukather, president of RDCL, participated in a conference organized by ESA Business school, titled “the resilience and success of the 🇱🇧 amid the multiple crises”, on the market strategies adopted by the private sector, to ensure sustainability & to surpass challenges faced amid crises.

The conference was held at ESA campus, with the participation of Mr. Maxence Duault, General Director of ESA, Mrs. Emily Wahab, Managing Director of L’Oréal Liban, & Mrs. Maissa Abou Adal, Chief Sustainability Officer of Holder group.

On this matter, Mr. Boukather made a presentation on the macro- economic situation & the monetary backdrop in Lebanon, indicating that the private sector should continue on playing an active role in the revival of the country & hence be more vocal on the urgency of concluding a deal with the IMF. Which alone will restore confidence locally and internationally, allow to start again the much-needed financing for the private sector, & make sure Lebanon is compliant again with international financial & governance standards.

He further stressed that in view of increasing costs for the private sector namely energy, salaries, health care, rentals, pensions and others “the crisis is not over’’! The private sector has done a remarkable job in adapting to crises & overcoming the risks, however, difficult times & risks lie ahead in case an IMF deal doesn’t happen soon enough!

Despite all difficulties, he showed strong belief that there is hope & many unveiled opportunities in many promising sectors, including Tourism, Pharmaceutical production, Hospitality, Renewable energy & more. However more opportunities will come up after the IMF deal is enacted. Restructuring the financial system, the State owned entreprises, the energy sector, the pensions sector, the judiciary sector border controls & others are key to prosper quickly again. Education transformation amid the crisis & global innovation has been also tackled.

Lastly, Mr. Boukather called all attendees to join hands with RDCL in its ASPIRE project that defines a clear multi sectoral vision for 🇱🇧 economy, contributing together, united, to the revival & rebuilding of the country.