Despite adverse economic conditions, the ICT sector in Lebanon has been growing at the rate of 12% per annum. A subset of knowledge based industries, it has thrived on massive availability of qualified human resources and has become a breeding ground for entrepreneurs. ICT hinges on export-oriented businesses that evolve from local supply to export, the Gulf being its most prominent foreign market.
This sector is on the verge of experiencing further growth as new internet service technologies such as ADSL have been introduced at more competitive prices, while telecom cost is witnessing price slashing. The government which has yet to make a full transition into information technology is destined to become a major client for this sector.
Berytech has succeeded in harboring a vibrant ICT cluster, characterized by start-ups and growing companies in software as well as hardware development featuring high technological content, system integration and implementation, network and telecom engineering, etc.
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