Ahmad al-Shara, the President of Syria, stated on Tuesday at the 2026 Arab Media Summit in Dubai that Syria has been "reborn" after the lifting of sanctions, and this action has opened the doors for foreign investment and economic improvement.
Impact of Lifting Sanctions
Al-Shara pointed to the extensive sanctions regime that Syria has faced, noting that some of these restrictions date back to 1979. He emphasized that these sanctions have not familiarized generations with concepts of international financial transactions and banking guarantees.
Read more: Gold prices drop in Egypt due to market fluctuations
He also referred to mediation efforts between Arab and regional leaders, highlighting the significant role of Turkish President Recep Tayyip Erdoğan and former U.S. President Donald Trump in this historic decision to lift sanctions.
Economic Outlook for Syria
Al-Shara announced that Syria is currently transitioning from a system resembling a socialist model towards a freer economy that supports the private sector. He predicted that Syria's economy, which was approximately $60 billion in 2010, has decreased to $20 billion in 2024, but has now reached $32 billion in 2025 and could increase to $50 billion this year.
The President of Syria also reported that investors from the United Arab Emirates, Saudi Arabia, Qatar, and Kuwait are entering Syria, with several memorandums of understanding signed and some projects underway.
Al-Shara also mentioned planned investments with Emirati investor Mohamed Alabbar and DP World's investment in the port of Tartus, stating that Syria's geographical position could make it an important part of trade and energy supply routes.
He described Syria as a potential food basket for the region, stating that the country could produce food for 70 to 75 million people.
Al-Shara emphasized that Syria will continue to maintain its decision-making independence and has no intention of becoming dependent on any foreign power. He also stressed the importance of leveraging successful Arab experiences in economic development.
In conclusion, the President of Syria warned that the improvement of conditions in Syria may be affected by wars and regional instabilities, emphasizing the need for cooperation with Arab countries to mitigate the impacts of these conflicts.
Read more: Ahmad Imran inaugurated the second Arab-African Water and Energy Exhibition in Cairo · Dangote Petrochemicals in Nigeria launches a $1.6 billion IPO
