Doha: The Qatari Businessmen Association (QBA) hosted a meeting with a Syrian delegation led by Dr. Hazem Al Sharaa, Vice President of the Syrian Supreme Council for Economic Development. The gathering included key figures such as Director General of the Investment Authority Talal Al Hilali and Director General of the Syrian Development Fund Safwat Raslan.
According to Qatar News Agency, HE Chairman of QBA Sheikh Faisal bin Qassim Al-Than highlighted Syria's potential as a hub of investment opportunities. He emphasized the importance of fostering Qatari-Syrian joint ventures across diverse sectors such as industry, health, tourism, and real estate to spur economic growth and job creation. Sheikh Faisal underscored the significant role the private sector in both nations can play in realizing these goals.
Dr. Hazem Al Sharaa acknowledged Qatar's pioneering efforts in investing in Syria, which have contributed to placing the country on the global investment map. He outlined the Supreme Council for Economic Development's objectives, which include achieving economic stability, revitalizing the economy, and creating a comprehensive economic framework for Syria. Dr. Al Sharaa also revealed plans for the introduction of a new currency in Syria at the start of the coming year.
During discussions with Qatari businessmen, Dr. Al Sharaa highlighted ongoing economic projects in Syria aimed at reconstruction and infrastructure development, particularly in sectors like energy, transport, tourism, and real estate. He also commended the investments by Qatari and Saudi companies in power generation and the modernization of Syria's electricity sector, alongside collaborations for the development of Damascus International Airport and the Damascus Metro project.
Talal Al Hilali, Director General of the Investment Authority, spoke about the legislative measures being developed to attract foreign investments. These include allowing full foreign ownership of projects and offering tax exemptions in sectors such as health and agriculture. He also mentioned full tax exemptions for factories exporting over half of their production.
Qatari businessmen expressed optimism about Syria's economic transformation and noted their active involvement in various projects. They announced plans for a delegation to visit Syria, responding to an invitation from President Al-Sharaa, to further explore investment opportunities.
The Council, chaired by the President of the Syrian Arab Republic, oversees the approval of strategies and plans related to investment and includes key ministers and officials. It is linked with several economic bodies, including the Syrian Investment Authority and the Development Fund.