Syrian Arab News Agency S A N A
Damascus, SANA – In the presence of President Ahmad al-Sharaa, $14 billion worth investment memoranda of understanding were signed Wednesday with a number of international companies at the People’s Palace in Damascus.
During the signing Carmony, Director General of the Syrian Investment Authority, Talal al-Hilali said that “Our meeting today is not just an official occasion. It is a clear declaration that Syria is open to investment, determined to build a prosperous future, and ready to work side by side with our trusted partners to write a new chapter of progress and development”.
“Today, we announce a group of 12 major strategic projects, with a total value of $14 billion. These projects will make a qualitative shift in infrastructure and economic life in Syria” he added.
The top Investment official clarified that “among the most prominent of these projects are the Damascus International Airport, with an investment of $4 billion; Damascus Metro, with an investment of $2 billion; Damascus Towers, with an investment of $2 billion; Baramkeh Towers, with an investment of $500 million; and Baramkeh Mall, with an investment of $60 million”.
US Special Envoy to Syria Thomas Barrack, said during attending the signing ceremony that Syria has been a center of trade among the countries of the region for thousands of years, and that the Syrian land is known for producing great people throughout its history. He expressed his country’s desire to strengthen Damascus as a center of trade and prosperity.
At a press conference held after the signing ceremony, Ayman Hamwiyah, advisor to the Higher Authority for Economic Development in Syria, affirmed that the focus is on projects that touch the lives of citizens, and that coordination is underway with all ministries and governorates to complete investment studies to launch reconstruction.
He pointed out that the Syrian government seeks to create a safe and neutral investment and economic environment and transition to a free economy, which is being worked on through the newly issued laws.
Hamwiya said that the governorates play a pivotal role in these projects, given the legal issues related to ownership. Therefore, they are the ones who arrange this matter through consultation and coordination with neighborhood councils and owners to reach a consensus formula.
He pointed out that these investments meet the aspirations of the Syrian people by providing job opportunities and opening the way for Syrian and foreign investors to enter the Syrian market.
Nisreen/Abdul
