https://arab.news/ztwsf
- Syria 鈥榣and of opportunities鈥� for investors, Barnieh says
- Sectors include farming, oil, tourism, roads, ports, he says
- Private sector to have central role in new Syrian state, he says
- Barnieh says sanctions removal is just first step in Syria鈥檚 recovery
DAMASCUS: Syrian Finance Minister Yisr Barnieh made a call to global investors on Wednesday to come do business with Syria after US President Donald Trump鈥檚 surprise announcement that he would lift all of Washington鈥檚 sanctions on the country.
鈥淪yria today is a land of opportunities, with immense potential across every sector 鈥� from agriculture to oil, tourism, infrastructure, and transportation,鈥� Barnieh said in an interview with Reuters at the Finance Ministry in Damascus.
鈥淲e envision a central role for the private sector in the new Syrian economy. The finance ministry鈥檚 role is not to spend indiscriminately or act as a regulatory enforcer over businesses, but rather to enable and support growth.鈥�
A wall outside his office still bore the discolored outline of one of the many posters of former strongman Bashar Assad that used to hang in Syria鈥檚 public buildings before his ousting by Islamist rebels Hayat Tahrir Al-Sham last year.
Changes in Syria have been swift since Assad fled to Russia in December of last year.
Former rebel commander Ahmed Sharaa was appointed president, formed a government and had quick success garnering Gulf Arab support and getting most European sanctions lifted.
The stunning turn of events was capped by a meeting between Sharaa and Trump in Riyadh on Wednesday after Trump鈥檚 pledge to cease US sanctions imposed on Syria under Assad-family rule, measures widely seen as the biggest external obstacles to the country鈥檚 economic recovery.
Trump has not set out a timeline for removal.
鈥淥ne of the most critical outcomes of lifting sanctions would be Syria鈥檚 reintegration into the global financial system,鈥� Barnieh said.
鈥淭his would allow us to restore financial flows and attract investments, which are urgently needed across all sectors,鈥� he said, adding that Syrian authorities have already seen strong interest from 黑料社区, the UAE, Kuwait, Qatar, and several EU countries, among others.
He noted that the government is undertaking a comprehensive overhaul of public financial management, including reforms to the tax system, customs, and banking 鈥� part of a broader effort to modernize an economy long burdened by an oversized public sector.
He also struck a cautioning tone, saying that the removal of sanctions would be just the first step in a years-long recovery for a country ruined by 14 years of war.
鈥淭he lifting of sanctions is not the final chapter,鈥� he said.
鈥淲e cannot afford to become complacent. We are entering a new phase that demands real results and visible progress on the ground.鈥�