The Faculty of Business Administration and Economics (FBAE) at Notre Dame University-Louaize Shouf Campus (NDU-SC) organized on Monday, March 19, 2018, an economic forum titled, "The Role of Local Employment in Stimulating the Rural Economy.” Two distinguished guest speakers presented the forum: Former Minister of Economy and Trade Dr. Alain Hakim and President of the General Confederation of Lebanese Workers Dr. Bechara Asmar.
The Office of Public Affairs and Protocol at NDU Director and Senior Anchor at MTV Majed Bou Hadir moderated the event, which was attended by municipality heads, bank managers, school principals, and a large audience composed of University faculty, students, and staff.
SC Director Fr. Naji Khalil delivered the welcome address. Fr. Khalil emphasized the importance of the main topic and stressed the need for greater focus on rural development. He said, "The aim today is not to encourage twenty-first century job opportunities and call for a return to tradition ... we are here to highlight the bounties to be reaped in the agriculture and handicraft sectors, and to strike a realistic balance among agriculture, industry, and trade." He also encouraged more seminars focused on rural development.
FBAE Coordinator at the SC Dr. Talie Kassamany briefly presented the academic programs and activities as well as students' achievements in the Faculty. He also introduced the guest speakers and praised their outstanding achievements. Dr. Kassamany stressed the important role that both the public and private sectors can play in stimulating rural employment by supporting small- and medium-size rural businesses and employing qualified rural young men and women.
For his part, Bou Hadir presented a brief overview of the negative impact created by a failing Lebanese economy, which has caused qualified rural workers to seek work opportunities elsewhere; hence, further weakening rural economies.
Dr. Hakim reviewed the current economic situation in Lebanon by highlighting three flawed policies adopted by successive governments. First, Lebanon has always relied on short-term monetary policies that provide an ailing economy with temporary relief at best. Second, the Lebanese economy is largely dependent on the banking sector as well as on individual initiatives and private sector remittances, rather than making the proactive effort to develop the production sectors, such as agriculture and industry, which can stimulate growth in both cities and rural areas and provide economic safety. In this context, he revealed a decline in direct foreign investment, which only totaled 36 percent of GDP in 2016. Third, the absence of sound economic planning and the lack of clear economic strategies to cover the entire nation.
In addition, Dr. Hakim stressed the need to place rural development on the socio-economic priorities of the Lebanese government. Any serious effort for sustainable development necessitates consideration and solutions to the problems of rural areas. He cited a number of policies that could be adopted to stimulate the economy in those areas, notably the activation of the role of women in economic activity, the development of infrastructure in these areas, and the support of cooperatives and civil societies. He also emphasized the need for better student advising aimed at directing students to graduate in majors demanded by the labor market in each area.
Dr. Asmar discussed the changes within the national labor union and the current role it plays at different levels, especially with regard its stand on the draft national budget and the proposed tax exemptions. He criticized the trend to import solutions from abroad instead of benefiting from qualified local economists. He stressed the need to strengthen districts and governorates through the establishment of government department branches and Central Bank of Lebanon (BDL) branches. Dr. Asmar also emphasized the importance of developing transportation plans, linking rural areas to the capital and other major cities, and the adoption of the decentralization model of factories and vital facilities as well as the support of small- and medium-size rural businesses to achieve balanced growth among all regions and relieve the pressure on the capital. He noted some problems that drain the Lebanese economy and burden the citizen: spread of corruption and rampant bribery, tax evasion, decline of the middle class, and poor distribution of wealth, which is limited to 0.3 percent of the population.
Responding to a question from Bou Hadir on the likelihood of strengthening the current economic pillars (financial sector, individual initiatives, remittances), Dr. Hakim said the best approach would be to support the production sector and adopt fair tax policies for their benefit.
At the end of the forum, Fr. Khalil thanked the guest speakers and the attendees for accepting the invitation and visiting the SC.
Fr. Khalil, FBAE Dean Professor Fadi Karaa, and Dr. Kassamany presented symbolic University shields to Dr. Hakim, Dr. Bechara, and Bou Hadir, as a token of appreciation. Also, outstanding FBAE students Hiba al-Ashkar and Razan Zaidan were both honored for winning awards achieved through their successful participation in academic competitions held among leading Lebanese universities.