Syria- Syria became fertile ground for foreign investments after the fall of the Assad regime and the passage of 14 years of war, which led to the destruction of most cities and the decline of all economic and investment fields, opening the way for great international investment opportunities.
The leader of the new administration, Ahmed Al-Sharaa, announced – following a meeting between Foreign Minister Asaad Al-Shaibani and Minister of State at the Qatari Foreign Ministry, Mohammed Al-Khulaifi – that Doha has expressed its interest in investing in sectors, including energy, in Syria in the future.
In Syria before the fall of the Assad regime, there were two cases for the regions:
- Regime-controlled areasYou are living in a difficult economic situation in light of the collapse of the local currency (the lira), stagnation in the state’s service and economic sectors, poverty, and a severe shortage of basic services such as electricity, gas, and fuel. The citizen was also living on what is known as a smart card that determines specific quantities of his daily food consumption, such as bread.
- Opposition areasIt has a large number of residents who are still living in displacement camps without the ability to return to their completely destroyed homes, and they are awaiting reconstruction that will enable them to return.
On the other hand, the state sectors are experiencing a deficit and delay in all areas of energy, oil, aviation, and reconstruction, even basic services for citizens, such as water, food, internet, and electricity, as a result of sagging and weakness of economic and service institutions.
Public Relations Officer at the Ministry of Economy, Iyad Najjar, told Al Jazeera Net that Qatar has a strong relationship with Damascus, in addition to its continued support for the Syrian people during the war period, and it is one of the advanced countries in the field of investments, energy, aviation, gas, and other fields.
Iyad Najjar: We are currently in the process of extensive studies on the facilities that need investments in Syria
He added, “The investment opportunities are great, and the door is open to invest in all vital facilities, including airports, ports, and railways, because they are all either stalled, flabby, or old, and require huge and rapid investment work to revive these facilities and start working again to advance the economic and service reality that will benefit the people.”
Najjar pointed out that Syria is at this time a fertile environment for investment opportunities, and that the government is in the process of presenting extensive studies on facilities that need investments.
He noted that his government opens the door for everyone to invest, and is moving toward liberalizing the market and implementing the free market concept.
Investment in the air transport sector
Syria has a number of civil airports:
- Damascus International AirportIt is approximately 30 kilometers away from the capital.
- Aleppo International Airport: The second largest international airport, it is 10 kilometers from the city center.
- Hmeimim Airport (formerly Basel): It became a Russian military air base after the Russian intervention in 2015.
- Deir ez-Zor International Airport: Used both civilian and military.
- Qamishli International AirportIt is located in the city of Qamishli (east) and receives flights from Syrian airports.
The structure of Syrian airports is considered old in terms of the existing aircraft, which are of the type IATA RB, ICAO SYR, dated 1946 and bearing the symbol “SYRI ANAER”. The air navigation systems, infrastructure, telegrams, and aircraft are very old.
The sanctions imposed on Syria during the war years have greatly restricted airport movement.
The director of Damascus International Airport, Engineer Anis Falouh, told Al Jazeera Net that most of the sectors in Syrian airports, including aircraft, infrastructure, communications infrastructure, the telegram system, and air navigation, are very old, and need major development in order to reach the modern level found in international airports.
Falouh called for developing the structure of civil airports and modernizing their systems and aircraft in light of the offers submitted by countries – led by Qatar and Turkey – for assistance and cooperation in the field of investment in airports to establish an air bridge with countries of the world, and he described this as “the beginning of rain.”
Anis Walouh: Offers from Qatar, Turkey and other countries for cooperation in the field of investment in Syrian airports
He added that Damascus International Airport owns 3 aircraft, while Cham Wings Private Company – which takes Damascus International Airport as its headquarters and operations center – owns 5 aircraft, including two at the airport and three outside the airport.
Falouh noted that investment is open in all fields, starting from aircraft to infrastructure, air navigation and communication systems, and developing modern systems to reach the ranks of international countries, in addition to establishing new airports.
Investment in energy and industry
The Syrian industrial sector witnessed a significant decline that reached the point of paralysis during the years of war, and this was exacerbated by the heavy taxes that were imposed on the industry, whether it was importing raw materials or exporting, which prompted many industrialists to scale down their industries and reduce the workforce.
Syrian industrial exports declined, and many industries in the country disappeared as a result of the high royalties that were imposed by armed groups affiliated with the former regime, in addition to the semi-permanent electrical outage and the lack of fuel necessary to operate factories in areas controlled by the former Assad regime.
Secretary of the Damascus Chamber of Industry, Ayman Mawlawi, told Al Jazeera Net that the Syrian industry needs electricity, alternative energy, fuel and gas, in addition to many supplies for rebuilding as an initial step until the industry takes off.
He added that Syria is distinguished by many industries, some of which are existing, such as the furniture, iron, ceramic, aluminum, cable, and food industries, and others are not, such as the electronic industries.
Ayman Mawlawi: Syrian industry needs electricity, alternative energy, fuel and gas
Muhammad Kamel Sahar (a factory owner in Damascus) says that to make an investment, you must first have access to energy at low or minimum prices comparable to neighboring countries.
He added that the industrialists’ demands – following several meetings held with the Minister of Economy in the business-oriented government – focused on reducing the cost of energy and supporting investment and local industry, in addition to providing components and infrastructure, noting that the government “listened to our demands and made promises to ease all these obstacles.”
Sahar called on countries to invest in the field of natural gas in Syria, and said that this important wealth was being exploited by other parties, in reference to the previous regime.
