US Dept of Commerce, July 2007:
Best prospect sectors in Lebanon: Information and Communication Technology (ICT)

Lebanon has the fundamental building blocks needed to become a regional center for technology: a highly-educated and multilingual workforce, a strong private sector, world-class advertising firms, and multi-lingual media content providers and web portals.
The Government of Lebanon has plans to regulate and upgrade its outdated and costly ICT infrastructure. These plans, which are expected to take place in the near future, will offer significant opportunities to foreign investors.
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Ministry of Foreign Affairs, Denmark (May 2007):
Danish companies in the telecom and IT sector are advised to make steps towards the Lebanese telecom market, where they can benefit from the favourable business atmosphere and the relatively cheap human resources to set off ICT software and hardware production facilities, or to outsource software development. Despite the war of summer 2006, the telecom sector in Lebanon is still very promising.

Read Full Articles of the Ministry of Foreign Affairs, Denmark.