Chambers of Industry and Commerce and Business Councils Discuss Investment Opportunities with a US Economic Delegation

The Syrian Chambers of Industry and Commerce Federation and the Syrian Business Councils held a roundtable meeting yesterday with the US economic delegation currently visiting Syria, to discuss prospects for economic and investment cooperation, as part of a series of ministerial meetings organized by the Ministry of Foreign Affairs and Expatriates with the delegation in Damascus.

Speaking at the roundtable, Ala al-Ali, President of the Syrian Chambers of Commerce Federation, emphasized that the Federation is working to enhance integration between the public and private sectors and to support economic and investment cooperation. He expressed optimism about building a long-term and successful partnership with the US side, particularly in the fields of technology and investment. He also praised the numerous meetings held with various companies and entities to explore cooperation and investment opportunities in several sectors.

For his part, Mazen Diwan, President of the Syrian Chambers of Industry Federation, stated that industry and commerce are an integral part of Syrian societal culture, which boasts a distinguished history of work and production. He noted that Syria possesses significant economic potential. He pointed out that the country’s gross domestic product could reach between $200 billion and $300 billion, based on its population, natural resources, and available capacities.

Diwan stressed that a free economy and enhanced production constitute the primary path to revitalizing the Syrian economy, transforming current challenges into investment and development opportunities. He highlighted that industrial cities in Damascus, Aleppo, and Homs are witnessing strong interest from industrialists, with efforts underway to establish additional industrial zones. He added that the speed of procedures and reduced costs are key factors in attracting investments.

For his part, Issam Ghariwati, President of the Syrian-American Business Council, stressed the need to move from the research and preparation phase to the partnership and investment phase, thereby contributing to supporting the Syrian economy, development, and trade exchange between Syria and the United States. He noted that the Council can help facilitate investors’ requirements and connect US companies with their Syrian counterparts specializing in various sectors. He indicated that the Council is focusing on energy, technology, banking, and other sectors, aiming to build cooperation with US investors and public entities in both Syria and the United States.

Ghariwati affirmed that the Council can assist in providing new information and legislation to US companies and support investors facing challenges in their operations in Syria.