Damascus, July 13 (SANA) Syrian Communications and Information Technology Minister Abdul Salam Haykal and Central Bank Governor Safwat Raslan on Monday outlined plans to modernize the country’s digital and financial sectors, emphasizing infrastructure development, regulatory reform and investment as key pillars of Syria’s economic recovery.
Speaking during panel discussions at the First Syrian-American Business Forum in Damascus, Haykal said Syria’s reconstruction vision depends on developing the expertise, financing and modern technologies needed to build an advanced digital infrastructure that supports economic growth and social development.
He said the government’s digital transformation agenda includes modernizing legislation, encouraging investment and implementing infrastructure projects, describing the development of the telecommunications sector as a national priority.
Haykal said Syria also aims to strengthen domestic implementation capacity for infrastructure projects by working with private companies to enhance the capabilities of local contractors and reduce reliance on external providers.
He added that the telecommunications sector inherited not only an inefficient and damaged network, but also a 15-year gap in development during a period of rapid global expansion in internet and digital technologies.
Speaking at a separate panel, Central Bank Governor Safwat Raslan said Syria’s banking sector has a solid foundation of compliance with international banking standards but requires updated laws and regulations to meet the demands of reconstruction and long-term economic development.
Raslan said the Central Bank is revising banking legislation and regulatory frameworks while strengthening cooperation with domestic and international financial institutions as part of a long-term strategy to modernize the financial sector.
He said the bank is implementing short-, medium- and long-term development plans, stressing that the exchange rate should not be viewed as the sole measure of monetary policy performance.
Raslan said the country’s currency replacement process had achieved a high level of success, with around 80% of the money supply exchanged despite the challenges posed by years of war.
He added that the Central Bank is pursuing a new monetary policy in coordination with the Finance Ministry to stabilize the exchange rate, saying the lifting of sanctions and increased capital inflows would help reinforce economic stability in the coming period.
The First Syrian-American Business Forum brought together Syrian and U.S. government officials, business leaders and investors to discuss opportunities for expanding trade, investment and private-sector cooperation between the two countries.
N.J/ ABD
