In continuation of the government’s efforts to encourage and attract investors, the Syrian Investment Authority and the UAE’s Al Habtoor Group signed a memorandum of understanding to launch investment and development projects in the coastal region.
The event took place during an official ceremony held at the Four Seasons Hotel in Damascus, attended by Finance Minister Muhammad Barnieh and Tourism Minister Mazen al-Salhani, along with several economic and diplomatic figures.
The Director General of the Syrian Investment Authority, Talal al-Hilali, and the Chairman of the Al Habtoor Group, Emirati businessman Khalaf Habtoor signed the memorandum. It aims to develop large-scale projects in the city of Latakia, contributing to the enhancement of sustainable tourism and achieving comprehensive community development, with a focus on creating job opportunities and improving the economic infrastructure in the region.
The signing of the agreement is part of efforts to strengthen investment partnerships and open new horizons for economic cooperation, which contributes to supporting development projects and encouraging joint investments.
Salhani confirmed that the agreement falls within the ministry’s plan to expand the tourism map in Syria and create new destinations that align with the aspirations of the upcoming phase, noting that the ministry provides all facilities to investors and works to overcome obstacles according to existing laws.
For his part, Barnieh emphasized the Syrian government’s commitment to providing an attractive investment environment that ensures investors’ comfort and supports projects with social and economic impact, commending Habtoor’s donation of over $6 million to charitable associations and developmental institutions in Syria.
Habtoor expressed his happiness at his first visit to Syria, affirming his goal for this partnership is to collaborate with the Syrian people to build a shared future. He praised the expertise of Syrian professionals and the fertile ground for ideas and initiatives, describing the agreement as the beginning of broader cooperation between the UAE and Syria.
The Al Habtoor Group, established in 1970, is one of the largest economic conglomerates in the United Arab Emirates, headquartered in Dubai. It operates in construction, tourism, education, and real estate sectors and is known for its major projects in the region.
Following the fall of the Assad regime, there has been increased Arab and international interest in the investment market in Syria, opening new horizons across various sectors after over a decade of isolation and sanctions that constrained the country on all levels.
