Experts call for improved corporate governance in Lebanon

26 February 2010

Experts have called for improved corporate governance in Lebanon, at a construction sector discussion group.

The talks, organised by the Lebanese Transparency Association (LTA) and the Centre for International Private Enterprise, were held at the Phoenicia Hotel. The round-table discussion was part of a conference on transparency in Beirut on Thursday.

Fadi Saab, the LTA's secretary, told the Lebanese Daily Star that sometimes contractors cut through excessive red tape by hiring middlemen with government connections.

Saab, one of the speakers at the conference, said: "Some of these middlemen extort the companies large sums of money just to get a permit from a government department."

Fellow speaker, Fouad al-Khazen the president of the Lebanese contractors association, spoke of the exceptional performance of the real estate market in the face of the economic downturn.

In New Zealand earlier this month, a website was launched dedicated to improving corporate governance by allowing small and medium-sized businesses to receive advice from the Institute of Directors.