The 5th Saudi-Lebanese Economic Forum will start in Beirut on October 27 with the participation of 200 Saudi and Lebanese businessmen. The Forum will be organized by Saudi Council of Chambers of Commerce and Industry, Lebanese Federation of Chambers of Commerce and Industry and Economy and Business Group. In a statement to Saudi Press Agency (SPA), Saudi Ambassador to Lebanon Ali Asiri emphasized the importance of this forum for the exchange of ideas between Lebanese and Saudi companies as well as presentation of the latest investment opportunities and projects in the two countries. He stressed that economic cooperation between the two countries is expected to grow during the next phase, noting that economic prospects and investment in Saudi Arabia and Lebanon are very encouraging. Ambassador Asiri pointed out that Saudi investments in Lebanon amounted to more than $ 4.8 billion in 2008, which constituted % 39.3 of total Arab investments in Lebanon. He pointed to Saudi governmental aid to Lebanon, such as a grant of $ 500 million to assist in reconstruction process after the Israeli aggression in July 2006, as well as a deposit of one billion dollars with Bank of Lebanon to promote monetary stability. --SPA
