DAMASCUS(RAHNUMA): Business leaders and officials from Syria, the UK and other nations gathered in Damascus on Wednesday for an economic conference to discuss investment opportunities and development in Syria, as postwar recovery efforts in the country continue.
The one-day event, organized by the Syrian-British Business Council and titled “Building a Diverse Economy,” focused on diversification in the fields of finance, energy, urban development, logistics and education, the Syrian Arab News Agency reported.
The business council’s president, Munzer Nazha, said in his opening address that the participation of delegations from the UK and other countries reflected the growing international interest in Syria’s economy and could help strengthen economic cooperation.
The members of the council include Syrian, British and international companies with expertise in energy, engineering, industry, technology and financial services, he said, and Syria’s location and potential in the transport, energy, tourism, industry, agriculture and infrastructure sectors could help position the country as an economic and logistics hub in the region.
British politician Melanie Ward said the Syrian people hoped to build a new future, revive their economy and create new opportunities in their country. Discussions at the conference focused on how to build a strong economy, support recovery efforts, promote sustainable development and create a favorable investment climate, she added.
Her fellow British politician, Alan Gemmell, described the conference as an important step in supporting development and reconstruction in Syria. Relief from international sanctions would allow governments and investors to better support the country’s economic goals, he added, and the business community would play a key role in driving growth and creating jobs.
Following a civil war that began in 2011, the Syrian president, Bashar Assad, fled the country in December 2024 when his regime was toppled as an opposition offensive swept into Damascus. An interim, transitional government was put in place, led by President Ahmad Al-Sharaa, and to help facilitate reconstruction, trade, banking and investment in the country, the US, EU and UK have gradually eased a broad range of sanctions that had been imposed on the Assad regime.
The US eased its sanctions on Syria in stages, beginning with temporary relief in May 2025, followed in June by an executive order that ended the sanctions program against the country while retaining those targeting Assad, his associates, known abusers of human rights, traffickers, individuals linked to terrorism, and other designated people and groups.
Syria’s economy was battered by nearly 14 years of civil war, the damage it caused to infrastructure, and international sanctions, as a result of which the country faces high levels of poverty, weak growth and severe fiscal pressures. Agriculture, trade and energy are considered key to recovery efforts.
