Facts and Figures: The closing day of the Arab Media Summit 2025, organized by the Dubai Press Club over three days, featured a keynote panel discussion featuring Dr. Mohammad Nidal Al Shaar, Syrian Minister of Economy and Industry.
According to the Emirates News Agency (WAM), the Syrian Minister spoke about the prospects for the economic and industrial landscape in Syria in the coming period, in light of current political developments and changes, most notably the lifting of US sanctions on Syria.
Dr. Al Shaar emphasized that Syria stands today on the threshold of a new economic phase, noting that the lifting of sanctions represents a historic opportunity to reintegrate the Syrian economy into global markets, attract foreign investment, and enhance regional and international cooperation in development and infrastructure projects. He revealed an expected inflow of investments exceeding $100 billion in the coming period, amid a new, more flexible and stable investment environment.
During the session, Al Shaar said, "We are on the cusp of the birth of a new Syria." He noted that with the removal of sanctions, attracting investments has become easier, especially after the removal of many bureaucratic obstacles and the creation of a modern legal environment.
Al-Shaar explained that the ministry has developed a multi-pronged strategic plan focused on stimulating the economic and industrial sectors, encouraging entrepreneurship, and modernizing the legal framework for investment to keep pace with global economic transformations and establish a more attractive and stable business environment.
He emphasized the importance of the media's role in supporting Syria's economic path by conveying a realistic picture of challenges and opportunities, enhancing investor confidence, and opening new windows for communication between the public and private sectors.
The Syrian minister called on Arab and friendly countries to participate in efforts to develop Syria's economic, industrial, and development landscape, emphasizing that the next phase requires true regional integration that will propel the country toward a more stable and prosperous future.
He added, "The future Syria will be a country with clear planning, and northern Syria will return to the state's embrace. We are not rebuilding old Syria, but rather building a radically different Syria, at an estimated cost of up to $400 billion."
He emphasized that lifting US sanctions on Syria represents the "beginning of a new path" to restructuring foreign trade and financial relations, facilitating the entry of international companies, opening financial transfer channels, and restoring a legal environment conducive to investment.
He praised the UAE's support for Syria in various fields, noting that the UAE leads among friendly countries in the volume of current and future investments in Syria. He emphasized the UAE's pioneering role in supporting economic development efforts and promoting sustainable development in various Syrian sectors. He said, "We are keen to attract investors and spare them the investment chaos that some have witnessed. We are also working to enable them to manage their investments with the utmost flexibility and confidence."
The Syrian Minister of Economy and Industry indicated that the ministry is working to develop industrial and free zones to become investment attraction centers, within a vision based on public-private partnerships. He emphasized the importance of supporting small and medium-sized enterprises, which are among the most important pillars of the Syrian economy. He emphasized that the ministry seeks to attract Syrian youth, talent, and expertise and improve the standard of living of Syrian citizens.
He explained that privatization does not mean abandoning the state's role, but rather represents a move toward a true partnership between the public and private sectors, contributing to the development of the Syrian economy and enhancing confidence in the investment environment.
Regarding the national currency, Dr. Al-Shaar indicated that technical and economic studies are currently being conducted, with the assistance of international expertise, on the possibility of restructuring the Syrian currency or introducing new banknotes to combat inflation and achieve greater monetary stability. He added that the government is also considering a transition to a partial digital system for financial transactions, with the aim of reducing manipulation and enhancing transparency.
He revealed the launch of a comprehensive national investment map for the tourism sector, emphasizing that tourism will be one of the main pillars of the Syrian economy. He emphasized that tourism will be one of the main pillars of the Syrian economy, working with experts and specialists to redefine the concept of tourism in line with Syria's cultural and civilizational character. He noted that a new tourism sector development map will be forthcoming.
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