Syrian expatriates are called on to invest back home
Syria, Economics, 3/30/2000

Syrian Minister of the Economy and Foreign Trade Muhammad al-Imadi has called on the Syrian expatriates to invest their money in Syria. The minister stated that the plan to amend investment law no. 10 will meet the various needs of investors.

In a news conference al-Imadi held in Damascus on Wednesday, together with the chief of the Islamic Development Bank, Ahmad Muhammad Ali, al-Imadi stressed that the government in Syria is seeking to amend the investment climate in Syria, noting that investment in Syria is considered a successful experience due to the political and social stability ensured in the country.

The minister also spoke about steps taken by his ministry to develop the state-owned banking system. He thanked the IBD for its great contribution to financing the social, and economic development process in Syria.

For his part Muhammad Ali stressed the IBD desire to promote its contribution to development plans and projects in Syria.

Earlier in the day, al-Imadi and the IBD chief inaugurated the celebration ceremony organized by the ministry and the IBD on the occasion of the 25th foundation anniversary of the bank.

Al-Imadi stressed the importance of this anniversary, which is being celebrated at the beginning of the 21st century, which witnesses an active process for economic globalization. He called on the IBD to support "our steps in confrontation of the challenges of globalization."

He also indicated the importance of integrated investment among the Arab states and urged an increase in foreign investment in the Arab states.

The IBD stressed the bank's backing for Syria's continued steps towards development. He spoke about challenges facing the bank, noting that the bank will spare no efforts to support its member states in withstanding these challenges.

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