The Syrian International Investment Development Center Launches a Competition for Economic and Commercial Initiatives

Private companies, industrialists, and civil societies have participated in a forum aimed at stimulating Syria’s productive sector, reports The Syria Times.

The Syrian International Investments Development Center Company has launched the First Economic Forum and “Republic” competition for economic, commercial and investment initiatives.

Privately owned companies, industrialists and civil societies organized the activities under the title “Initiatives to Support the National Economy.”

Participants in the forum will discuss several axes that focus on improving and developing production, opening new foreign markets for Syrian exports and launching the National Participatory Fund to import basic materials.

Dr. Faten Nizam, the Company’s secretary, said that the company seeks to shed light on global experiences and work to indigenize them at the investment level locally, to reach the stage of self-sufficiency in training and qualification.

Nizam said that the conditions for applying for the economic initiatives competition is that the contestant must be a Syrian Arab citizen and at least 18 years of age . The contestant submits his initiative, including economic and investment solutions, to the Initiatives Committee of the company that will undertake the funding for this initiative.

Engineer Jamal Al-Din Shuaib, Assistant Minister of Internal Trade and Consumer Protection, said that the ministry will support economic, commercial, industrial or development projects that serve the economy and meet the needs of the local market.

Ali Al-Ahmad, a consultant at the Russian Cultural Center in Damascus, made a presentation on Russian-Syrian cooperation entitled “Visions and Challenges.”

He referred to the great challenges that Syria faces during this stage, which requires the creation of new tools to stimulate production through the potential for their extraction, activation, and interest in small and micro enterprises. 

In turn, the representative of the Iranian Embassy, Amin Shukraoui, spoke about the areas of joint cooperation and investment between Syria and Iran.

He said that there are great incentives for investment in Syria and there is a great desire from Iranian merchants and investors to invest in them.

Dr. Bahjat Akroush, Chairman of the Board of Trustees of the “Creators for the Nation” Foundation, referred to the importance of partnership between the private and public sectors in the agricultural, industrial, commercial, and transport sectors.

The forum was attended by assistants of a number of ministers, a number of parliament members, members of the chambers of industry and agriculture, and a number of ambassadors and representatives of Arab and foreign diplomatic missions in Damascus.


This article was 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.


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