Tuesday, Dec 13, 2011
BEIRUT (Zawya Dow Jones)--Lebanon's industry ministry has proposed to cut taxes and fees on local research and development projects, Lebanon's official National News Agency, or NNA, reports Tuesday citing the country's industry minister Vrej Sabounjian.
The ministry mulls the implementation of a project to enhance the competitiveness of the local private sector, Sabounjian said according to the news agency. The project is a joint venture between Lebanon's Industrial Research Institute and the Euro-Lebanese Centre for Industrial Modernisation, he added.
This project, to which the European Union has contributed about EUR2 million of funding, aims to encourage innovation and research and development in small and medium-sized industrial enterprises, NNA cites Sabounjian as saying.
News agency website: http://www.nna-leb.gov.lb/newsDetail.aspx?categ=economy&id=369672
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
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(END) Dow Jones Newswires
13-12-11 1325GMT
