Damascus ,SANA
Syrian President Ahmad Al-Sharaa has unveiled a sweeping plan to open the country’s economy to foreign capital and accelerate reconstruction, describing it as a “new mindset” for building a post-war economy.
Speaking on state-run TV in Damascus on Friday, Al-Sharaa framed the strategy as a pivot away from reliance on humanitarian aid and politically conditioned loans, arguing that investment, not assistance, must underpin Syria’s future growth.
“We do not want Syria to live on aid or politicized loans,” he said. “The alternative is to open the country to investment, with a new economic mentality that matches Syria’s environment and the global trend in modern development,” the President added.
Al-Sharaa highlighted reforms to Syria’s judicial and education systems and the development of human capital as “the greatest wealth of the economy.” He noted that the government is simultaneously investing in energy, services, transport, telecommunications, and political relations with neighboring countries to create a favorable environment for growth.
The President added that 1,150 new production lines have been installed in the past nine months, alongside the reopening of previously idle factories, in an effort to reverse a steep decline in agricultural and industrial output. Wheat production, once 4 million tonnes annually, has dropped to 700,000 tonnes.
The President affirmed that the newly empowered Syrian Development Fund is prioritizing the resettlement of displaced people, clearing rubble, reopening roads, and restoring basic services in destroyed towns and villages. The plan also includes micro-loans for farmers to boost agricultural productivity and strengthen food security.
Damascus has also rebuilt its international and regional ties “at remarkable speed,” the Syrian President claimed, citing improved relations with Gulf states, Turkey and Jordan as well as a renewed interest from Washington. “We have seen great willingness from the United States to invest inside Syria,” the President said.
Following the fall of the Assad regime in December 2024, Western governments began rolling back sanctions and signaling support for foreign investment as a pathway to Syria’s reconstruction.
Momentum accelerated in July with the Syria–Saudi Investment Forum, where 44 memoranda of understanding (MOUs) worth $6bn were signed, alongside a $800mn deal with Dubai Ports World to upgrade port infrastructure.
In August, Damascus secured $14bn in MOUs with firms from Qatar, the UAE, Italy, and Turkey. Saudi Arabia followed with another memorandum of understanding and six sectoral MOUs focusing on energy cooperation.
A separate $7bn MOU with Turkish, Qatari, and US companies has been achieved, aims to boost Syria’s power grid and improve living conditions for millions.
