Damascus, Aug. 30 (SANA) The Damascus World Economic Forum marks a step toward transforming the commercial and investment presence at the Damascus International Fair from a showcase of products and opportunities into a platform for direct dialogue on projects, contracts and partnerships, bringing together government, the private sector, investors and international partners in an economic track running parallel to the fair.
A high-level ministerial economic session was held at the Damascus Conference Palace on Aug. 20, coinciding with the opening of the 63rd Damascus International Fair, with Syrian and international officials participating to discuss establishing the forum and defining its role in supporting investment and economic cooperation, according to SANA.
11.3% growth projected as economy seeks new partnerships
The forum’s establishment comes as indicators point to growing domestic economic activity. Finance Ministry estimates align with IMF projections of over 10% growth for Syria’s economy in 2026, with the ministry estimating growth at approximately 11.3%.
More than 10,000 companies and commercial registrations were recorded in Syria during the first half of this year, according to Economy Ministry data, reflecting expanding domestic economic activity and the potential for strengthening the private sector’s role.
Organizers are banking on these indicators, along with opportunities linked to reconstruction, production and trade, to build new partnerships with investors, companies and regional and international markets.
1,000 entities, 60 countries: An international launchpad
The Damascus World Economic Forum draws on the wide participation base of the Damascus International Fair, which includes approximately 1,000 entities representing some 60 countries, along with more than 40 Syrian ministries, authorities and institutions, bringing investors, government bodies and companies together in one space.
Mohammad Hamza, Director General of the General Corporation for Fairs and International Markets, told SANA that the forum enables direct B2B and B2G meetings to discuss investment, production, export and licensing procedures, as well as agreements and memoranda of understanding, moving participation from networking to negotiating implementable projects.
Economy Minister Nidal al-Shaar announced the forum’s launch on Aug. 28 as part of the fair’s activities, aiming to build confidence in Syria’s economy, showcase investment opportunities and support industry, trade and exports, stressing that economic recovery requires a genuine partnership between the state and the private sector.
8 million tourists: Opportunities extending to tourism, energy, industry
The forum’s potential extends beyond trade and industry to include real estate development, infrastructure, energy, tourism, manufacturing and logistics services.
Economic advisor Ziad Arabsh highlighted opportunities to develop residential and commercial complexes and smart cities, provide energy solutions for major projects, and attract tourism investments as part of a plan to welcome 8 million tourists over five years, potentially creating some 400,000 jobs and generating billions of dollars in revenue.
Technology transfer opportunities also emerge through partnerships to establish local production lines, develop ports, infrastructure and logistics services, strengthening Syria’s ability to connect with regional and global markets.
Arabsh believes the forum’s establishment represents a long-term path to strengthening partnerships, opening dialogue channels between governments and business, and attracting quality investments to support economic recovery, stressing the importance of completing legislative, monetary and banking reforms while enhancing transparency and governance.
Financing, business environment and competitiveness: Three challenges to global status
Abdulrahman Mohammed, professor of finance and banking at Hama University’s Faculty of Economics, sees the forum as a shift in Syrian economic thinking, aiming to transform the Damascus International Fair from a marketing showcase into a platform for testing investment ideas and building partnerships.
Mohammed identifies three key roles for the forum: transferring global expertise in reconstruction, financial technology and alternative energy; rebuilding trust through direct dialogue; and transitioning from a war economy to a development economy.
He also points to three challenges facing the forum’s transformation into a global platform: financial transfer mechanisms and banking compliance; the business environment and legislative stability; and regional competitiveness against established economic forums in Riyadh, Doha, Dubai and Istanbul.
Mohammed believes Syria’s reconstruction market could give the forum a competitive advantage if it becomes a primary gateway for reconstruction deals and projects.
Five ideas to turn dialogue into projects
Mohammed proposes launching a “Damascus Distressed Opportunities Fund” to finance stalled factories and facilities, a “Digital Reconstruction Platform” for transparently showcasing investment opportunities, and exploring a “digital lira” with fintech and e-wallet legislation.
Other proposals include launching a regional economic corridors project under the name “Syrian Silk Road” to connect the Mediterranean to the Gulf through Syria, and a “Damascus Academy for Entrepreneurs” to link Syrian expertise abroad with the domestic market.
From crisis management to recovery economy
Economic researcher Abdulazim al-Maghribal places the forum’s establishment in the context of transitioning from crisis management to recovery and strengthening regional connectivity, leveraging Syria’s geographic position to build Arab, regional and international partnerships.
Al-Maghribal noted the historical value of the Damascus International Fair, whose idea dates back to 1936 with the first edition held in 1954, calling for broader participation from the private, public and mixed sectors, civil society, universities and economics faculties in economic events.
He believes integration between the fair and the forum enables a transition from networking to negotiation—the fair introduces investors to products, sectors and opportunities, while the forum provides space for discussing contracts, partnerships and projects, potentially impacting energy, industry, transport, tourism, employment and local production.
The establishment of the Damascus World Economic Forum marks an initial step toward creating a continuous platform for economic dialogue and partnership-building. Its future success depends on its ability to turn opportunities and discussions into implementable agreements and projects, strengthening investment, trade and production, and connecting Syria’s economy to regional and global markets.
The 62nd edition of the Damascus International Fair, held from Aug. 28 to Sept. 5, 2025, recorded 2.261 million visitors and contracts worth over 935 billion Syrian pounds.
Kh.A / Mzn
