Royal Philips Electronics has opened their offices in the heart of Beirut’s downtown district, designed to become the new hub of Philips’ expanding operations in the Levant.

The company has been operative in the region for more than 50 years through distributors.

“Lebanon is the ideal strategic location to set up the office for the region as a result of its access to a large regional market, free-market investment policies, and a liberal economic environment,” said Louis Hakim, VP of Royal Philips Electronics and CEO of Philips Middle East.

Philips’ businesses cover Healthcare, Lighting and Consumer Lifestyle.

“Philips is currently active in partnering with credible and established parties in the region to develop different initiatives related to innovation, health and well-being. This could also come in the form of facilitating financing through our relationships with banks, tapping export credit agencies or development of sector specific funds,” added Hakim.-TradeArabia News Service