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Minister Yaghi to Al-Watan: We’re in Recovery Phase Despite Negative Repercussions of Crisis on Economic Reality

Minister Yaghi noted the country's early steps towards recovery despite lingering crisis impacts.
Minister Yaghi to Al-Watan: We’re in Recovery Phase Despite Negative Repercussions of Crisis on Economic Reality

The 27th edition of the Global Forum commenced on Wednesday in St. Petersburg, featuring participation from over 137 countries, including a delegation from the Syrian Arab Republic led by Minister of Finance Kenan Yaghi and Syrian Ambassador to the Russian Federation Bashar al-Jaafari.

Minister Yaghi, speaking to Al-Watan, emphasized the forum’s focus on “The basis of the multipolar world is the formation of new growth points” over three days, addressing pivotal economic matters such as global food security, digital trade, and the role of banking and financial services in international development.

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Highlighting the forum’s significance as a platform for the exchange of ideas, Minister Yaghi underlined its importance for policymakers, officials, and business leaders worldwide. The delegation actively participated in the opening sessions and planned discussions with ministers and representatives from Arab and friendly nations to bolster bilateral economic ties and identify avenues for development.

Minister Yaghi elaborated on discussions with the Institute for Research on World Economy and International Policies in the Russian Federation, focusing on reinforcing joint Syrian-Russian economic relations and fostering private investment.

Addressing the challenges posed by the global conflict on Syria’s economy, Minister Yaghi noted the country’s early steps towards recovery despite lingering crisis impacts.

Yaghi emphasized the presentation of investment incentives in Syria, along with exemptions and extensive facilitations for investors, coupled with governmental support programs to boost production, streamline procedures, and enhance financial services.

He stressed the necessity of communicating Syria’s investment incentives to Russian investors, ensuring clarity on laws and regulations, and promoting direct engagement between Syrian and Russian business communities to facilitate trade exchange.

Sergey Avontsev, Assistant Director General of the Institute for Research on World Economy and International Policies, highlighted the importance of discussing Syrian economic aspects to aid Russian companies’ investments. He emphasized the need for foreign investors, particularly Russians, to familiarize themselves with Syria’s promising sectors, investment incentives, and regulatory frameworks.

Agreements were reached to maintain communication between the Ministry and the Institute through the Russian Cultural Center, providing legal and financial clarifications to Russian investors to bolster economic ties.

The forum serves as an effective platform for global policymakers, officials, and business leaders to exchange insights on key economic challenges facing Russia, emerging markets, and the world at large.

 

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.

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