Syrian and US Delegations Meet in Damascus for Economic and Energy Cooperation
Syrian ministries and a US economic delegation meeting in Damascus evaluated partnership opportunities in infrastructure, energy, and digital services.
Relevant ministries in Syria held round-table meetings with a visiting US economic delegation in Damascus, discussing cooperation opportunities in infrastructure, energy, digital services, and investment.
Round-Table Meetings in Damascus
The Syrian Ministries of Economy and Industry, Communications and Information Technology, and Energy held three separate round-table meetings with the visiting US economic delegation. The discussions addressed ways to strengthen cooperation and create new partnership and investment opportunities in various sectors.
Goal of Changing the Economic Model
Syrian Minister of Economy and Industry Nidal Al-Shaar stated that the government aims to transition from an economic model based on licenses and permits to a competitive market economy. Al-Shaar expressed that the private sector will be the primary driving force in investments.
Role of American Companies
Minister Al-Shaar noted that they aim for American companies not only to make sales in the Syrian market but also to engage in production and serve regional markets from there. He emphasized that companies will bring capacity and expertise alongside capital.
Digital Networks and 5G Investments
Minister of Communications and Information Technology Abdulsalam Heikel stated that beyond repairing infrastructure, they aim to build digital networks that will meet the needs of the coming decades. Heikel also said that new 5G network investments will be put into operation.
Water Sector and Investment Procedures
Energy Ministry Deputy Minister Responsible for Planning Ibrahim Al-Adhan conveyed that the water sector remains under state support at the current stage and that they are working on mechanisms to transform it into an investment sector in the future.
International Memorandums of Understanding
Al-Adhan stated that procedures regarding partnership and investment permits have been reduced to months, noting that memorandums of understanding have been signed with American companies in the oil and gas sector, and with Saudi companies regarding the rehabilitation of fields.