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MP Raed Khoury: Lebanese cannabis could become a one-billion-dollar industry.

Jo

Administrator
Master Penguin
#1
McKinsey's plan (amongst other things) proposed some “quick wins” to ease the economic slowdown and show the international community that the country is serious about change.

They include:
  1. Setting up a construction zone for prefabricated housing that can be used in the rebuilding of war-torn Syria and Iraq
  2. Boosting tourism
  3. Opening new markets for a couple of Lebanese crops: avocados -- and cannabis.
Full Bloomberg report here:

Banking to Cannabis: McKinsey Has a Plan for Lebanon's Economy

Global consulting firm McKinsey & Co. has set out its vision for Lebanon’s economy, with recommendations ranging from building a wealth-management and investment-banking hub to becoming a provider of medicinal cannabis. Turning it into reality will be a tall order.

Caretaker Economy and Trade Minister Raed Khoury said implementing the thrust of the 1,000-page report will be crucial if Lebanon, the world’s third-most indebted nation, wants the international community to start releasing $11 billion in grants and soft loans pledged in April.

“They are all interrelated,” Khoury said Friday in an interview at his Beirut office as he read from a summary of the report.

The abridged document was presented to President Michel Aoun this week, and the full version must be ratified by the new cabinet, which Prime Minister-designate Saad Hariri is still attempting to form following May’s elections.

Voting again exposed Lebanon’s notoriously complex sectarian rifts, with the Iran-backed Hezbollah group securing a bigger chunk of the seats in parliament. After weeks of horse-trading, Hariri is nowhere near forming a ministerial team amid infighting within Christian and Sunni communities, and demands by political leaders for greater representation.

World’s Third Most-Indebted Country Gets More Desperate for Cash

The divisions could reduce the McKinsey report to a “theoretical exercise,” said Sami Nader, head of the Levant Institute for Strategic Studies in Beirut.

“The effort is laudable,” he said. But “anything that touches the economy will need political consensus in Lebanon because we don’t have a functioning democracy.”

Lebanon hired McKinsey this year to help it formulate an economic plan. With at least three times as many Lebanese living abroad than at home, Lebanon has been sustained by remittances, mainly from the Gulf and Africa, which banks use to buy government debt.

Public debt stands at the equivalent of 150 percent of economic output and the International Monetary Fund sees it reaching 180 percent in five years. That puts Lebanon in the same league as Japan and Greece.

Foreign reserves -- currently a record $43 billion -- enabled the local currency to survive political storms that periodically left Lebanon without a president or prime minister, as well as the influx of 1.5 million Syrian refugees and the negative impact of low oil prices on the Gulf job market.

‘Quick Wins’

Tackling some of Lebanon’s biggest problems, including corruption, will be key to rebuilding the economy, Khoury said. Lebanon has slipped down Transparency International’s graft ranking to 143rd of 180 countries.

The report proposed some “quick wins” to ease the economic slowdown and show the international community that the country is serious about change, he said. They include setting up a construction zone for prefabricated housing that can be used in the rebuilding of war-torn Syria and Iraq, boosting tourism and opening new markets for a couple of Lebanese crops: avocados -- and cannabis.

Cannabis is cultivated clandestinely in the eastern Bekaa Valley, which is dominated by Hezbollah, despite regular government eradication campaigns. Khoury said Lebanon could legalize cultivation and export the drug for medicinal treatments. “The quality we have is one of the best in the world,” he said, adding cannabis could become a one-billion-dollar industry.

The government wants to boost real GDP growth to 6 percent within three years of reforms being implemented, halve unemployment that’s currently at around 20 percent in five to seven years, and raise the contribution of the productive sector from 14 percent of GDP to 25 percent by 2023, said Khoury.

Lebanon’s history of chaotic administration, its unstable region and vested interests that could derail anti-corruption initiatives pose challenges, he said. But without change, “we will have major economic turmoil.”

Source: Banking to Cannabis: McKinsey Has a Plan for Lebanon's Economy
 
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  • Skunk

    Member
    Orange Room Supporter
    #3
    Yes i’ve been hearing lots of statements voicing for legalizing cannabis cultivation lately.

    Totally agree, and the quicker the better.
    Northern Bekkaa produces one of the finest sativa around and can easily compete with Afghan and Moroccan Cannabis.
    Our strain is very well known worldwide and people love it.

    This is a very self efficient agricultural crop, huge industry, market and income.

    Our society is still not ready to fully legalize cannabis,
    We should First legalize its cultivation for trade-only purposes, and export it until we’re ready to legalize it internally for medical and recreational use.
     

    joseph_lubnan

    Legendary Member
    #4
    McKinsey's plan (amongst other things) proposed some “quick wins” to ease the economic slowdown and show the international community that the country is serious about change.

    They include:
    1. Setting up a construction zone for prefabricated housing that can be used in the rebuilding of war-torn Syria and Iraq
    2. Boosting tourism
    3. Opening new markets for a couple of Lebanese crops: avocados -- and cannabis.
    Full Bloomberg report here:

    Banking to Cannabis: McKinsey Has a Plan for Lebanon's Economy

    Global consulting firm McKinsey & Co. has set out its vision for Lebanon’s economy, with recommendations ranging from building a wealth-management and investment-banking hub to becoming a provider of medicinal cannabis. Turning it into reality will be a tall order.

    Caretaker Economy and Trade Minister Raed Khoury said implementing the thrust of the 1,000-page report will be crucial if Lebanon, the world’s third-most indebted nation, wants the international community to start releasing $11 billion in grants and soft loans pledged in April.

    “They are all interrelated,” Khoury said Friday in an interview at his Beirut office as he read from a summary of the report.

    The abridged document was presented to President Michel Aoun this week, and the full version must be ratified by the new cabinet, which Prime Minister-designate Saad Hariri is still attempting to form following May’s elections.

    Voting again exposed Lebanon’s notoriously complex sectarian rifts, with the Iran-backed Hezbollah group securing a bigger chunk of the seats in parliament. After weeks of horse-trading, Hariri is nowhere near forming a ministerial team amid infighting within Christian and Sunni communities, and demands by political leaders for greater representation.

    World’s Third Most-Indebted Country Gets More Desperate for Cash

    The divisions could reduce the McKinsey report to a “theoretical exercise,” said Sami Nader, head of the Levant Institute for Strategic Studies in Beirut.

    “The effort is laudable,” he said. But “anything that touches the economy will need political consensus in Lebanon because we don’t have a functioning democracy.”

    Lebanon hired McKinsey this year to help it formulate an economic plan. With at least three times as many Lebanese living abroad than at home, Lebanon has been sustained by remittances, mainly from the Gulf and Africa, which banks use to buy government debt.

    Public debt stands at the equivalent of 150 percent of economic output and the International Monetary Fund sees it reaching 180 percent in five years. That puts Lebanon in the same league as Japan and Greece.

    Foreign reserves -- currently a record $43 billion -- enabled the local currency to survive political storms that periodically left Lebanon without a president or prime minister, as well as the influx of 1.5 million Syrian refugees and the negative impact of low oil prices on the Gulf job market.

    ‘Quick Wins’

    Tackling some of Lebanon’s biggest problems, including corruption, will be key to rebuilding the economy, Khoury said. Lebanon has slipped down Transparency International’s graft ranking to 143rd of 180 countries.

    The report proposed some “quick wins” to ease the economic slowdown and show the international community that the country is serious about change, he said. They include setting up a construction zone for prefabricated housing that can be used in the rebuilding of war-torn Syria and Iraq, boosting tourism and opening new markets for a couple of Lebanese crops: avocados -- and cannabis.

    Cannabis is cultivated clandestinely in the eastern Bekaa Valley, which is dominated by Hezbollah, despite regular government eradication campaigns. Khoury said Lebanon could legalize cultivation and export the drug for medicinal treatments. “The quality we have is one of the best in the world,” he said, adding cannabis could become a one-billion-dollar industry.

    The government wants to boost real GDP growth to 6 percent within three years of reforms being implemented, halve unemployment that’s currently at around 20 percent in five to seven years, and raise the contribution of the productive sector from 14 percent of GDP to 25 percent by 2023, said Khoury.

    Lebanon’s history of chaotic administration, its unstable region and vested interests that could derail anti-corruption initiatives pose challenges, he said. But without change, “we will have major economic turmoil.”

    Source: Banking to Cannabis: McKinsey Has a Plan for Lebanon's Economy
    And they got a couple of million dollars for that :)
     
    #5
    That's their solution? lol. Fakakrna la7 yshilo el zir men el bir. It's a billion-dollar industry alright, but now for the average farmer. The big boys will profit, wel sha3eb bi sir motfe aktar min ma hou motfe halla2. Win-win for the political class. Profits and an compliant populace.
     

    JeanH

    Well-Known Member
    Orange Room Supporter
    #6
    any big cannabis farmer would be against legalization, nevermind the ones who go on TV and moan about its illegal status, being a legal plant to grow would make cannabis cheaper and the king pins will loose lots of money
     

    lebnan_lilkel

    Well-Known Member
    Orange Room Supporter
    #7
    And they got a couple of million dollars for that :)
    Offcourse... I didnt read the report but its going to say,

    1. Fight corruption
    2. Too many foreigners
    3. Garbage needs to be sorted, recycled and reused.
    4. Plan for 24 hr electricity. Use more solar energy..

    This is all while having hashish kept them awake. ..

    SAVE LEBANON >>> HAVE MORE HASHISH..



    Who thought it was that simple !
     
    Last edited:

    Iron Maiden

    Her Royal Brincess
    Staff member
    #8
    That's their solution? lol. Fakakrna la7 yshilo el zir men el bir. It's a billion-dollar industry alright, but now for the average farmer. The big boys will profit, wel sha3eb bi sir motfe aktar min ma hou motfe halla2. Win-win for the political class. Profits and an compliant populace.
    A smart law can easily counter big producers, limit parcel size and ratio and set production goals and limit geographic locations.

    Bas badak el niyyé to do it.

    Offcourse... I didnt read the report but its going to say,

    1. Fight corruption
    2. Too many foreigners
    3. Garbage needs to be sorted, recycled and reused.
    4. Plan for 24 hr electricity. Use more solar energy..

    This is all while having hashish kept them awake. ..

    SAVE LEBANON >>> HAVE MORE HASHISH..

    View attachment 10623

    Who thought it was that simple !
    Ma fhemna chi :)
     

    Muki

    Well-Known Member
    Staff member
    #9
    any big cannabis farmer would be against legalization, nevermind the ones who go on TV and moan about its illegal status, being a legal plant to grow would make cannabis cheaper and the king pins will loose lots of money
    In other words, you will never legalize cannabis in Lebanon so long as Hizbullah and their cronies use drugs as a source of revenue.

    You won't hear that one on tv that's for sure. You'll hear ya zaynab.
     
    #10
    A smart law can easily counter big producers, limit parcel size and ratio and set production goals and limit geographic locations.

    Bas badak el niyyé to do it.
    Just like the electoral law, it will tailored to the mafia's need. I'm not an anti-cannabis fanatic, but it does slows your brain's functioning power. Ma na2esna j7esh bl balad lol.
     

    Skunk

    Member
    Orange Room Supporter
    #11
    Just like the electoral law, it will tailored to the mafia's need. I'm not an anti-cannabis fanatic, but it does slows your brain's functioning power. Ma na2esna j7esh bl balad lol.
    It would help in your case though.

    Anyway, we're not here to debate the side effects of cannabis,
    We shouldn't legalize it for consumption internally straight away
    I don't think we're even ready for it.

    Legalization its cultivation/export is a totally different subject.
     
    #12
    It would help in your case though.

    Anyway, we're not here to debate the side effects of cannabis,
    We shouldn't legalize it for consumption internally straight away
    I don't think we're even ready for it.

    Legalization its cultivation/export is a totally different subject.
    It will not be enforced properly. It is to the rulers' benefit to keep the populace tame. Bl 3aks bi shaj3o el nes 3laya lol
     

    Skunk

    Member
    Orange Room Supporter
    #15
    i'm looking at the subject from a different perspective as yours.

    I say we should legalize cultivation and then export it and make money out of it.
    and then you said, Mafia need to keep the populace tame.

    Legalized or not,
    Cannabis is already being cultivated and sold in Lebanon internally.
    so, your argument is invalid..
     

    Muki

    Well-Known Member
    Staff member
    #16
    Venomous Hummingbird said:
    it does slows your brain's functioning power.
    Where are you getting your information from?
    So easy to claim "cannabis does this" and "cannabis does that" when you ban the herb and all research on it.
     

    JeanH

    Well-Known Member
    Orange Room Supporter
    #17
    In other words, you will never legalize cannabis in Lebanon so long as Hizbullah and their cronies use drugs as a source of revenue.

    You won't hear that one on tv that's for sure. You'll hear ya zaynab.
    Well for us to find out we should follow the liar to his doorstep
     
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