ArabNet 2018

The highly-anticipated ArabNet Beirut 2018 conference was launched on February 21st under the High Patronage of His Excellency the President of the Republic of Lebanon, General Michel AOUN and in collaboration with Banque du Liban, along with the participation of H.E. Prime Minister of Lebanon Mr. Saad Hariri as well as H.E. Mr. Jamal Jarrah, Minister of Telecommunications and H.E. Dr. Riad Salameh, Governor of Central Bank of Lebanon.

Over 1,800 senior government officials, diplomats, enterprise decision-makers, innovators and investors were in attendance, keen on connecting and exchanging ideas on digital innovation and entrepreneurship as key drivers for Lebanon's future economic development. ArabNet Founder and CEO, Omar Christid is launched the ceremony with his opening speech where he remarked that "More than $500M was invested in innovative MENA tech startups in 2017. Investors from around the world will be at the event to highlight the latest trends in the global technology sector."

In his opening speech, the Prime Minister focused on his trust in the Lebanese youth whom he believes will bring a much needed positive change. "With all the problems affecting us and the region, we really need to be united on the agenda that will provide a better future for the youth!" and added : "I want to tell the youth that I rely on them, and all I want to do is try and stabilize this country and update the laws because change is good; change is for the people."

Meanwhile, H.E. Mr. Jarrah stressed in his speech on the ministry's goal of  improving connectivity across Lebanon, providing higher speeds and increasing landlines capacity. "We have worked to update the network and equipment in a bid to transform the telecommunications sector and pave the way towards establishing a complete FTTH network in the coming years".

Moreover, in his speech, H.E. Dr. RiadSalameh talked about Circular 331 and the positive effect it had on the Lebanese economy." The Central Bank of Lebanon is preparing to launch the digital currency, which will lead to an important development in the digital economy and will fall under Lebanese law." Dr. Salamehadded:"We recognize that the financial sector plays a leading role in the development and modernization of the Lebanese economy. However, growth is largely linked to improving Lebanon's competitiveness, whereby the Knowledge Economy plays a significant role. Innovation and human capacity are the pillars of the 4th industrial revolution; they are fundamental elements that contribute to improving competitiveness."