Director-General of the Syrian Investment Authority (SIA) Rawad Ramadan praised the Qatari economic experience and highlighted the progress achieved in infrastructure, economic and investment institutions, and the diversification of economic activities.
He expressed Syria's aspiration to develop relations with the State of Qatar through practical investment partnerships in the industry, agriculture, food security, tourism, and infrastructure sectors.
In a special statement to Qatar News Agency (QNA), Ramadan stated that Syria views the Qatari economic experience with great interest, particularly its ability to link a long-term economic vision with investment in strategic projects, and to develop institutions capable of efficiently implementing that vision. He further emphasised that there are broad opportunities for economic integration between the two countries.
He added that the SIA looks forward to expanding cooperation with Qatari institutions and companies in areas such as the transfer of expertise, the development of institutional capabilities, and the management of strategic projects. He noted that the exchange of knowledge, as well as managerial and technical expertise, is no less important than the inflow of capital, adding that both are essential for building a strong and competitive economy.
He said Syria is undergoing a critical phase of economic reconstruction, alongside efforts to improve the investment climate and bolster the private sector’s role in the development process. He explained that the authority has recently taken concrete, actionable steps, most notably the activation of an investor services center and a single-window investment portal. This initiative involves authorised representatives from over 26 government entities, and aims to simplify procedures, save time, and provide a clear institutional point of reference for investors.
Ramadan noted that the authority recently began issuing commercial registrations for investment companies through the center, enabling the completion of incorporation procedures within no more than 24 hours, provided that all documentation is submitted and legal requirements are met. He further highlighted ongoing collaboration with international entities and experts to develop digital transformation programmes and redesign the investor journey, which will, in the future, facilitate faster and more transparent service delivery and transaction tracking.
The SIA aims to ensure that the ease of investing in Syria is an experience investors can perceive in their day-to-day procedures, he added, explaining that success is measured by the number of projects that transition from the licensing phase to actual production and operation.
Ramadan explained that Syria possesses diverse economic assets, including its strategic geographical location, natural resources, human expertise, and potential in the industrial, agricultural, and tourism sectors. He noted that the authority places special emphasis on revitalising Syrian industry and developing its production and export capabilities, in addition to focusing on agricultural projects, food industries, energy, transport, logistics, housing, and infrastructure.
He added that the tourism sector represents a significant opportunity, given the country’s historical and cultural heritage, the diversity of its tourist sites, and the potential for developing integrated tourism destinations and projects.
Ramadan also pointed to the aspiration to establish strategic agricultural projects that go beyond meeting the needs of the local market, contributing instead to enhancing food security at a regional level through the development of agricultural and livestock production, along with related industries, in collaboration with regional and international partners.
The authority’s vision is for Syria to regain its position as a hub for production and export, and to leverage its geographical location to serve as a vital economic corridor that connects regional markets and fosters integration among them, he added.
The director-general explained that the authority adopts an approach of direct engagement with Arab and international investors and investment institutions, developing opportunities that align with both the priorities of the Syrian economy and the interests of investors. He noted that Syrian investment legislation provides a range of incentives, as well as tax and customs exemptions, which vary according to the nature of the sector, the specific project, and its economic impact.
He explained that the Investment Law and its amendments provide for a permanent 100% income tax exemption for agricultural and livestock production projects covered by its provisions, as well as a permanent 80% reduction in income tax for industrial projects that export more than 50% of their production capacity, subject to legal requirements, in addition to customs exemptions for eligible machinery and production lines.
Ramadan emphasised the importance of public-private partnerships in implementing strategic projects, developing infrastructure and economic facilities, and leveraging the private sector’s expertise in management and operations.
