Syria’s fledgling government has sought investment to reconstruct the country after its devastating yearslong civil war.
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Syria has signed a series of investment deals with international companies, covering 12 major strategic projects in infrastructure, transportation and real estate valued at a total of $14bn, the latest lifeline aimed at reviving its war-ravaged economy.
The plans included a $4bn investment project for Damascus airport signed with Qatar’s UCC Holding and a $2bn deal with the United Arab Emirates national investment corporation to establish a metro in the Syrian capital, Talal al-Hilali, head of the Syrian Investment Authority, said during the ceremony at the presidential palace in Damascus on Wednesday.
It’s a welcome development for President Ahmed al-Sharaa’s new government as it has been grappling with the heavy fallout from sectarian violence that broke out on July 13 in the southern province of Suwayda between Bedouin and Druze fighters. Government troops were deployed to quell the conflict. The bloodshed worsened, and Israel carried out strikes on Syrian troops and also bombed the heart of the capital Damascus, under the pretext of protecting the Druze.
