Damascus, April 6 (SANA) – Director General of the Syrian Investment Authority Talal al-Hilali said Syria’s openness to internationally recognized arbitration mechanisms will help strengthen the country’s business environment and attract foreign capital.
Al-Hilali made the remarks following Syria’s participation in Paris Arbitration Week, describing the event as an important opportunity to deliver positive messages to international investors about the country’s evolving investment climate and commitment to adopting global standards in dispute resolution.
He noted that Syria is open to using internationally recognized arbitration bodies in investment contracts, including the International Chamber of Commerce, a step aimed at enhancing transparency and providing reliable legal guarantees for investors.
Al-Hilali added that these measures complement the recently issued investment law, which includes a range of incentives and guarantees designed to stabilize the business environment and encourage foreign investment while supporting Syria’s integration into the global economy.
During the visit, the Syrian delegation also held meetings with leading international arbitration institutions, including the London Court of International Arbitration and the International Chamber of Commerce, to discuss cooperation and benefit from international expertise in investment dispute settlement.
Talks also focused on plans to establish a modern Syrian arbitration center based on international standards. According to al-Hilali, investors will be free to choose arbitration either within Syria or through reputable international institutions, reinforcing confidence and the principle of contractual freedom.
In a related development, al-Hilali said discussions were held with World Bank representatives on potential support for Syria’s reconstruction phase, noting the bank’s readiness to provide financial support of up to $1.5 billion for about ten key infrastructure and development projects.
The talks also addressed restructuring Syria’s banking sector and reintegrating it into the international financial system in order to restore investor confidence and facilitate capital flows.
Kh.A
