Syria sees investment is a dynamo for growth
Syria, Economics, 2/8/2005

Syria's Minister of Economy Amer Hosni Lutfi called on Monday to create adequate circumstances for investment in Syria stressing, "it is the dynamo of economic growth process here."

In a word at the "Mechanism of Guaranteeing and Financing Trade and Investment Projects" meeting, the minister noted that Syria is now working to produce a developed banking system capable of investment financing process and urged to launch trade freedom.

"Syria has worked diligently to create an investment atmosphere free of hinders and obstacles and enjoys features to encourage local foreign and Arab investors," the minister said.

He noted that the Syrian economy has witnessed since 2000 policies of modernization and development for laws and legislations to achieve a developed economic growth and to find enough job opportunities as well actively participate in the private sector with a genuine association in the process of development and the reform of the currency and finance sector. It was also to raise the public sector capability and make finance and currency balances.

For his Part, Chairman of the Syrian Chambers of Commerce Rateb Shallah said the investment topic needs to be encouraged and boosted and this would be embodied in the accomplishment of the united Arab agreement to guarantee investments as to match products liberation in frame of the great Arab free trade zone.

Two representatives of the Arab Institution to Guarantee Investment and the Arab Company for Investment pointed at this meeting's significance as to widen trade exchange between Syria and the Arab states and to open the door before Syrian products in addition to spur inter-Arab investment pouring to other world countries as to increase product and upgrade productivity.

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