DAMASCUS: Syria signed a series of investment memoranda worth a total of 14 billion U.S. dollars with foreign companies on Wednesday, according to state-run SANA news agency.
The agreements cover 12 projects across Syria, including infrastructure, transportation, and commercial development. A signing ceremony was held in Damascus and attended by Syrian interim leader Ahmad al-Sharaa.
Talal al-Hilali, chief of the Syrian Investment Authority, said at the ceremony that the signing of the deals was "an announcement that Syria is open for investment."
Al-Hilali said the projects include the redevelopment of Damascus International Airport with a 4-billion-dollar investment, the construction of the Damascus Metro system with 2 billion dollars, and the Damascus Towers project, also valued at 2 billion dollars.
Additional developments include the Baramkeh Towers project of 500 million dollars and the Baramkeh Mall project worth 60 million dollars.
The Syrian interim authorities have been promoting a series of investment announcements and development projects. Public reactions remain mixed.
Some express cautious optimism, while others remain skeptical until seeing tangible results on the ground.
