DAMASCUS - More than 100 foreign firms are in contact with Damascus to secure investment deals after the European Union lifted sanctions and provided a window of opportunity for the country to develop months after the ousting of Bashar al-Assad.
The European Union on Tuesday lifted its economic sanctions on Syria following months of deliberations. The decision came days after US President Donald Trump also decided to lift sanctions on the country.
“Several companies have started communicating with Syria to undertake the appropriate procedures for investment and exploration with technicians and Syrian entities to carry out investment inside Syrian territory,” Ahmed Sulaiman, head of communications at the Syrian energy ministry, told Rudaw on Tuesday.
The EU has already loosened sanctions related to energy, transport, and reconstruction, as well as associated financial transactions, but local experts argue that the measures were insufficient to help Syria rebuild its infrastructure.