May 2010

3

4

11

2

Member News

Economist Conference

Taste of America

New Members

Inside this issue

The American Lebanese Chamber of Commerce, Bank of New York Mellon, and Auerbach Grayson

were delighted to host, in collaboration with The Arab Bankers Association of North America (ABANA),

the second Lebanon Capital Market day in New York on April 27 at the Waldorf Astoria Hotel, where

the Lebanese flag was proudly displayed on the Park Avenue entrance next to the flag of the United States. The delegation included the Lebanese Minister of Finance, diplomats, and executives from top Lebanese businesses, as well as companies seeking to access global capital markets.

“Lebanon Capital Market Day” started with a conference attended by an audience of U.S. companies, investors, fund managers, analysts, and the media.

Welcoming remarks were made by Salim Zeenni of the American Lebanese Chamber of Commerce, David Grayson of Auerbach Grayson, and Mahmoud Salem of The Bank of New York Mellon and ABANA, followed by a keynote address by H.E. Raya Haffar El Hassan, the Lebanese Minister of Finance. Presenting at the conference were Bank Audi, BLOM Bank, Byblos Bank, Malia Group and Solidere, who showcased investment opportunities in Lebanon.

Minister Hassan noted, “It’s very important for Lebanon to be present every year in the financial capital of the world and it is very helpful for the Lebanese business community to communicate with its U.S. counterparts. It is a welcome initiative from the American Lebanese Chamber of Commerce that we count on to a great extent, to show the big investment opportunities in Lebanon and to prove that Lebanese companies are able to be present in the global capital markets to attract investors.” She added, “This conference will be, for the second consecutive year, an opportunity to present the economic situation of Lebanon, and to highlight its good performance and the flexibility it showed toward the recent global financial crisis, which has become a byword in the world.”

Continued on p. 7

USTR Lunch Debate12

U.S. Trade Fairs13

General Assembly13

5 Lunch Debate with Minister Abboud

AmCham Lebanon’s U.S. Delegation 2010

Second Capital Market Day in New York

Director Paola ChakhtouraAddress 1153 Foch Street Beirut Central DistrictP.O. Box 175093 Beirut, LebanonPhone/ Fax +961 1 985330-1Web www.amcham.org.lbE-mail info@amcham.org.lb

Board of Directors and Officers

Salim J. Zeenni PresidentMaher Y. Beydoun VP for Public RelationsArslan M. Sinno VP for MembershipRichard A. Haykel VP for International AffairsWalid T. Assaf TreasurerNadim Kassar Secretary GeneralJoe Asseily Board MemberCharles Nahhas Board MemberRabah Jaber Board MemberCarol Chammas Kareh Board MemberNadim Romanos Board MemberWalter Siouffi Board MemberFadi Moubarak Board MemberBarbara Batlouni Board MemberGaby Tamer Board MemberFady Khayat Board MemberPierre Debahy Board Member

American Lebanese Chamber of Commerce

New Members

2May 2010

Khaled KassarFounder and CEOCSR LEBANON LLC961 (1) 355110www.csrlebanon.com

CSR LEBANON is an independent consulting firm that aims to spread awareness on Corporate Social Responsibility and to enhance CSR dialogue in Lebanon. Through its consultancy, research, communication strategies, events, and regional media platform, CSR LEBANON paves the way to a better understanding of the concept among the public and private sectors, striving towards a national CSR strategy.

Hala AdraReal Estate Marketing & Sales Consultant 3 BEIRUT961 (1) 368505www.halaadra.com

3 BEIRUT is an iconic complex of three towers located in Beirut Central District. The project is designed by world-renown architects, Foster and Partners, and it is their most exclusive project. The complex is pure residential and includes 150 units of outstanding design; it overlooks Wadi Abu Jamil from the south, Mount Lebanon from the East, and the Marina from the North.

Jacques SarrafChairmanMalia Holding961 (1) 881212www.maliagroup.com

Malia Holding is a Lebanon-based multifaceted organization owning equity participation in several companies dealing in the production, marketing, sales and distribution of pharmaceuticals, consumer goods, personal and professional care products, and fashion retail. Malia Holding is also involved in hospitality, real estate development, engineering, contracting, system integration and IT solutions.

Mohamad ChoucairCEOPatchi961 (1) 743670www.patchi.com

Since its founding in 1974, the Patchi brand has been synonymous with superior quality chocolate and exquisite chocolate designs. Patchi started as a basic chocolatier, in one boutique located in Beirut’s Hamra area, and rapidly expanded to cover most of Lebanon. Patchi subsequently expanded throughout the international market and now exists in 33 countries, with over 140 boutiques and 5 factories satisfying different market needs.

Join AmChamContact info@amcham.org.lb to apply

!

Member News

3May 2010

Cosmaline Receives Lebanese Excellence Award

FRANSABANK co-signed with Fransa Invest Bank and IFA Hotels and Resorts

SAL Holding - a subsidiary of IFA Hotels & Resorts KSCC - a joint agreement through which FRANSABANK and Fransa Invest Bank finance “Al Abadieh Hills Project” over two phases for a total of USD $30 million.

FRANSABANK Signs Agreement with IFA Hotels and Resorts

Established in 1936, Malia Group’s activities span six different sectors: Industry, consumer goods distribution, solutions, fashion and luxury, contracting and hospitality and real estate. Active throughout the Levant, the Arab Peninsula and Europe, Malia Group consists of 20 companies that have forged alliances with some of the world’s leading multinationals.

Cosmaline, a member of Malia Group, was awarded the Lebanese Excellence Award 2009 by H.E. President Michel Suleiman in a ceremony held at the Presidential Palace in Baabda, Lebanon on January 21, 2010. The Lebanese Excellence Award 2009 was conferred upon Cosmaline by H.E. Mohammad Safadi, Minister of Economy and Trade.

Specialized in contract manufacturing and private labeling of personal care products, household products and aerosols, Cosmaline was recognized by the jury panel for its commitment to business excellence aligned with EU norms and standards. The latter includes the implementation of three mature approaches: commitment toward a healthy environment due to the implementation of ISO 14001; continual process and quality improvement as certified through ISO 9001, which has garnered partnerships with multinationals; and supporting human capital by training, motivation and rewards based on performance.

Mr. Jacques Jean Sarraf, Chairman of Malia Group, receiving the Lebanese Excellence Award 2009 from Lebanese President H.E. Michel Suleiman.

After assessing the financial viability of the project, through the adoption of advanced

valuation techniques in relation to credit risk, risk management, project finance in general and real estate finance in particular, Fransa Invest Bank organized and structured this loan and will be in charge of its management.

This loan is a milestone since IFA Hotels and Resorts Holdings is quasi-wholly owned by two Kuwaiti companies, IFA Hotels and Resorts Company and Kuwait Real Estate; therefore there is no major local partner in the deal. Moreover, 40% of the loan was granted in the local currency, and the interest rates charged on both the LBP and USD portions of the loan are based on the Beirut Reference Rate, as indicated and revised by Association of Lebanese Banks (ABL). This reflects the great confidence the Arab investor attaches to our national economy and currency, belief in the high return on investing in this economy, as well as confidence in its well-structured, organized, well-managed and professional banking sector.

9May 2010

U.S. Delegation (Continued from p. 8

AmCham ’s delegation then headed to Washington, D.C. for the second part of the trip, a yearly

business development and lobbying mission, co-organized by the National U.S. Arab Chamber of Commerce (NUSACC). The group had meetings

with several organizations and departments, including the U.S. Department of Commerce, U.S. Trade and Development Agency, Export–Import Bank

of the U.S., and National Security Council, along with key officials, including Hon. Ray Lahood, Secretary of Transportation, Former Congressman John Porter, and

U.S. Congress Minority Leader John Boehner.

Part of the mission, organized in collaboration with Citi Bank, focused on the energy sector, where the delegation met with the U.S. Department of Energy, The U.S. Partnership for Renewable Energy Finance, American Council on Renewable Energy, and AES Corporation, discussing new technologies, policies, and financing opportunities that Lebanon can benefit from.

The meetings on April 29 were followed by a dinner in honor of the visiting AmCham Lebanon delegation, hosted by Lebanese Ambassador to the U.S. H.E. Antoine Chedid at his residence in Washington, D.C.

Continued on p. 10

Washington D.C. Trade Mission

)

10May 2010

Continued from p. 9The second day of meetings included a luncheon hosted by AmCham Lebanon and

NUSACC at the Ritz Carlton Hotel. Lorraine Hariton, Special Representative for Commercial

and Business Affairs at the U.S. Department of State, was the keynote speaker, along with Salim

Zeenni, President of AmCham Lebanon, and David Hamod, President and CEO of NUSACC.

In her speech, Lorraine Hariton spoke of “...entrepreneurship and it’s relation to President Obama’s National Export Initiative to double the

exports in the coming five years and create two million jobs. Particularly in a region like the MENA

region, it is imperative to build capacity if we want to expand trade, so we need to partner together to promote economic development.”

Salim Zeenni highlighted the improvement in Lebanon’s economy and its relation to that of the United States, which has been the number one exporter to Lebanon for the past three years.

“Excluding GCC countries, Lebanon is the MENA region’s highest per capita importer of U.S. goods and services… It is one of the few nations in the world that experienced an increase in imports from the United States from 2008 to 2009.” Zeenni added that the

What Products or Services Can You Offer Fellow AmCham Members in 2010?

Send your proposal to info@amcham.org.lb and begin to interact!

Your offer should include any specific details, and will be uploaded on the AmCham Lebanon website (www.amcham.org.lb) and on the AmCham MENA Council website (www.amchammena.org) for all other AmCham members to view and benefit from. We will publish a list of these offers in our newsletter for further exposure.

country’s foreign direct investment grew by 20% last year, to $4.3 billion.

David Hamod added that the Lebanese market will be among the region’s most attractive in 2010 - a year in which exports of U.S. goods and services are expected to break all previous records.