Logo Wide

During Saudi Arabia Meeting, Regime Tempts Arabs to Invest in Syria

The meeting of officials from the Economic and Social Council served as a preparatory gathering for the upcoming Arab summit, according to Shaam Network.
During Saudi Arabia Meeting, Regime Tempts Arabs to Invest in Syria

The Economic and Social Council of the League of Arab States convened a ministerial-level meeting in Jeddah, Saudi Arabia. During the meeting, the Syrian regime, represented by its Minister of Economy, made an appeal to Arab nations for investment in Syria.

Mohammed Samer al-Khalil, the Minister of Economy and Foreign Trade, highlighted the perceived attractions and opportunities for investment in Syria, citing new laws and promising prospects. He expressed the regime’s willingness to engage in discussions regarding bilateral and multilateral development, with the ultimate aim of benefiting Arab peoples.

Khalil acknowledged the exceptional circumstances resulting from global and regional changes, emphasizing the pressing need for achieving food security. He stressed the importance of strengthening joint Arab action in this area to address the urgent requirements.

Syrian Delegation Actively Engages in Preparatory Meeting for Arab League’s Economic and Social Council

The meeting of officials from the Economic and Social Council served as a preparatory gathering for the upcoming Arab summit. Reports suggested that the Council deliberated on strategies to enhance collective Arab efforts in achieving sustainable development, along with other social and economic matters of relevance to Arab nations.

Footage aired by the official Saudi news channel captured the presence of the Syrian diplomatic delegation, led by Khalil. This marked the first time Syria occupied its seat at an Arab League meeting since November 16, 2011.

During a seminar organized by the Friends of Damascus Association at the Cultural Center in Abu Roumaneh, Ali Kanaan, a professor at the Faculty of Economics at Damascus University, highlighted the role of financial institutions in promoting investment in Syria.

Kanaan pointed out that the regime’s decision to restrict the exchange rate and allow prices to rise had negative consequences, leading to a stagnation in industrial and commercial activities.

He emphasized that countries and governments are actively seeking to attract investments due to the positive impact they have on material incomes and economic growth. Various measures are being taken to encourage investments, as investors contribute to the production of essential raw materials for industries. In the tourism sector, they help establish hotels and resorts. Additionally, investment plays a crucial role in tackling unemployment, boosting exports, and increasing investors’ profits.

However, the claims made by Median Diab, the director of the Syrian Investment Commission under the Assad regime, about high demand from Syrian, Arab, and foreign investors to initiate projects in regime-controlled areas appear to contradict the increasing trend of youth migration for various reasons, such as concerns regarding security and the overall economic situation. This raises significant concerns about the feasibility and viability of the alleged return on investments and projects.

 

This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.

Helpful keywords