by newsweek.com - TOM O'CONNOR --  Lebanon's economic minister has endorsed a plan to revitalize the country's struggling economy—and it includes capitalizing on one of Lebanon's best known, yet entirely illegal products. In an interview with Bloomberg News, Lebanese Caretaker Economy and Trade Minister Raed Khoury discussed Friday a plan devised by New York-based global consulting firm McKinsey & Company to diversify the country's economy as it faces a deepening financial crisis. The plan reportedly included potential "quick wins" such as getting involved in reconstruction efforts for conflict-ridden Iraq and Syria, investing in the tourism sector and legalizing Lebanon's illicit cannabis farms for medicinal exports. "The quality we have is one of the best in the world," Khoury told the outlet, adding that the cannabis had the potential to bring in up to a billion dollars.

The Lebanese government has long struggled to crack down on the cannabis growers in the Bekaa Valley, an eastern territory bordering Syria and largely under the influence of the Shiite Muslim Hezbollah movement. The powerful Iran-backed political and paramilitary group has routinely denied any ties to the region's booming drug industry, but independent farmers are still well armed and the region's lawlessness has only increased with the outbreak of conflict in neighboring Syria. In March 2017, hashish farm operator Ali Nasri Shamas openly discussed his business with BBC News. "Just like Europe and the U.S. export terrorism to us, we sell them drugs," Shamas told the station as he showed off large supplies of weapons and drugs. Local outlets such as Stepfeed and the 961 soon reported raids on his properties by Lebanon's Internal Security Forces, turning up a generous amount of loot.

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by aawsat.com — Beirut – Asharq Al-Awsat Lebanon’s economic obstacles do not prevent foreign investors from eyeing the country’s opportunities, including the Majid …