Damascus, SANA-The Syrian Forum and the Invest in Syria Fund launched the “Invest in Syria Fund” project to attract investments and establish projects in various productive and service sectors across Syria, contributing to the sustainable development process.
This came during a press conference held by the Fund’s management at the Syrian Forum headquarters in Damascus, under the title “Solutions and Models for Investment in Syria Under Sanctions.”.
“The fund, which was established in the United States to attract and encourage Syrian capital to establish investment projects in Syria, began operating two years ago in northern Syria. Today, it is launching its activities, targeting all Syrian regions and governorates, and various sectors: production, service, infrastructure, banking, finance, industry, agriculture, and the energy and technology sectors.” Director General of the Invest in Syria Fund, Sinan Hatahet, told a SANA reporter.
Hatahet added that the fund provides investors and those wishing to participate in the investment projects the fund intends to launch with a special license from the US Treasury to circumvent sanctions imposed on the country, reassure investors, and provide sufficient guarantees for transferring funds to and from Syria.
He noted that the fund seeks, after liberation, to complete projects in the north and expand its scope of work to the remaining Syrian governorates.
For his part, Muhammad Yasser Tabara, a member of the fund’s board of directors, noted the fund’s efforts to return investments to the country by facilitating procedures and investors should be encouraged to establish a number of projects in various regions of Syria, and to change the mentality of expatriates from that of donors to that of partner investors.
Regarding Western sanctions that constitute an obstacle to investment in Syria, Tabara said, “There are many ways to circumvent these sanctions, and the Fund can provide assistance and legal advice to circumvent them.”.
MHD Ibrahim
