Latest news with #MohammadNidalAlShaar
Arab News
16-06-2025
- Business
- Arab News
First European commercial plane lands in Damascus airport in over a decade
LONDON: Damascus International Airport in the Syrian Arab Republic welcomed its first European commercial flight this week since the civil war began in 2011. A European airline, Dan Air, landed in Damascus on Sunday after flying from Bucharest, the capital of Romania, the SANA news agency reported. Mohammad Nidal Al-Shaar, the minister of economy and industry in Syria's interim government, was on the plane that was received in Damascus by Radu Gimpostan, who led the Romanian Embassy's delegation. Dan Air's plane carried 138 passengers, including Syrians and foreign nationals, and the return flight from Damascus to Bucharest would carry 125 passengers. The airline has announced flights from Damascus to Bucharest, the German cities of Frankfurt and Berlin, and the Swedish capital, Stockholm. Syrian officials said that the flights would facilitate the mobility of travelers between Syria and Europe following more than a decade of interrupted aviation services.
Zawya
09-06-2025
- Business
- Zawya
Saudi Arabia is keen on supporting Syrian economy's stability: Al-Falih
RIYADH — Minister of Investment Eng. Khalid Al-Falih emphasized Saudi Arabia's commitment to supporting the stability and development of the Syrian economy. He also underlined the need to serve common interests and enhance regional economic prosperity. Al-Falih made the remarks during a meeting with the Syrian Minister of Economy and Industry Dr. Mohammad Nidal Al-Shaar, via videoconference, on Sunday. He emphasized the importance of creating an environment for expanding regional investment partnerships. The ministers discussed prospects for investment cooperation between the two countries and reviewed the promising economic opportunities in the Syrian market. Their meeting addressed potential areas of public-private partnership and ways to enhance qualitative investments in the production and service sectors, contributing to supporting economic development and opening new channels for integration between the two countries. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Al Bawaba
04-06-2025
- Business
- Al Bawaba
Syria and KSA deepen economic ties with focus on investment and reconstruction
Published June 4th, 2025 - 06:59 GMT These include a joint financial package announced last Saturday by Saudi Foreign Minister Prince Faisal bin Farhan, offering three months of salary support for Syrian public sector employees. ALBAWABA- In a new sign of warming relations, Saudi Arabia and Syria have opened formal discussions on strengthening bilateral investment and economic cooperation, marking a significant step in the region's evolving political and financial landscape. Also Read Syria signs mega project for power and progress Saudi Minister of Investment Khalid Al-Falih met virtually with Syrian Minister of Economy and Trade Mohammad Nidal Al-Shaar to explore joint investment opportunities and long-term economic partnerships. According to the Saudi Press Agency (SPA), the talks focused on fostering collaboration between the public and private sectors and boosting targeted investments in Syria's productive and service industries. — الخليج أونلاين (@AlkhaleejOnline) June 4, 2025 Al-Falih emphasized Riyadh's commitment to creating a supportive environment for regional investment and reiterated Saudi Arabia's interest in backing Syria's economic recovery and stability. The meeting comes amid a sweeping political shift following the fall of Bashar Al-Assad's regime in December 2024. Since then, Syria's new government has been reintegrated into the Arab diplomatic sphere, with Saudi Arabia playing a key role in facilitating its return. Saudi support has gone beyond humanitarian assistance. In recent months, the Kingdom and Qatar have launched several strategic initiatives to support Syria's reconstruction. These include a joint financial package announced last Saturday by Saudi Foreign Minister Prince Faisal bin Farhan, offering three months of salary support for Syrian public sector employees. In another significant development, a $7 billion memorandum of understanding was signed last week between Syria's Ministry of Energy and a regional investment consortium led by Qatar's Urbacon Holding Group and Turkish and American firms. The agreement will fund critical electricity sector projects vital to Syria's redevelopment. Additionally, in April, Saudi Arabia and Qatar cleared Syria's outstanding $15 million debt with the World Bank, underlining their commitment to rebuilding Syria's financial credibility on the global stage. © 2000 - 2025 Al Bawaba (
Al Arabiya
29-05-2025
- Business
- Al Arabiya
Syria needs at least $1 trillion to rebuild: Minister
Syria needs at least $1 trillion to rebuild its economy, the country's Minister of Economy and Industry said, cautioning that the World Bank's estimate of $400 billion is insufficient. 'We need at least $1 trillion to reconstruct and rebuild a new Syria,' Mohammad Nidal al-Shaar said. His comments came on the sidelines of the Arab Media Summit in Dubai on Wednesday, according to reports from the UAE's official press agency (WAM). The minister said he anticipates a resurgence of diplomatic ties and investor confidence as Europe and the US lift sanctions on Syria, leading to a resurgence of diplomatic ties and investor confidence. 'Very soon, you will see foreign embassies opening again in Syria,' he said. 'We are now able to talk about the new Syria and to build new partnerships.' Al-Shaar also said his country expects the return of Syrian funds held abroad. However, he cautioned that much of Syria's foreign-held assets were retrieved by the previous regime, leaving only a small portion. He said: 'Right now, for us, any amount is important, whether it is $20 million or $100 million.' A critical threshold Al-Shaar highlighted Syria's fragile new position after the ouster of its former ruler Bashar al-Assad, saying that his country has reached a critical threshold and cannot afford more instability. 'Our people can no longer bear any chaos. We have reached a threshold whereby it is not possible to go back to chaos again,' he said.
Arab News
28-05-2025
- Business
- Arab News
New currency in the works, says Syrian economy minister
DUBAI: Syrian Economy Minister Mohammad Nidal Al-Shaar has said his country is working on developing a new currency but will not make any hasty decisions. Speaking at the Arab Media Summit on Wednesday, Al-Shaar said the new Syrian government was 'dealing with this calmly and patiently' and pointed to the economy's flaws under Bashar Assad's regime. 'The regime had different channels to pay salaries, one was through royalties that were imposed on traders and the other was through captagon production. When the regime fell, these stopped so there is a shortage in liquidity currently,' he explained. Liquidity was the main challenge faced by Syria's economy, he added, as the previous regime had retrieved most of the country's liquid assets from overseas before it fell. 'We are working on retrieving our funds from abroad in cash; unfortunately the regime was able to retrieve most of it but something is better than nothing,' he said. Earlier this year, the UAE invested $800 million to develop the Syrian port of Tartous after the US lifted sanctions. Al-Shaar said Syria was striving to become an open economy and attract foreign investment but was being selective to avoid creating economic chaos. 'Brotherly countries of the Middle East are all looking forward to protecting Syria from chaos, the Syrian people are tired of (it) and cannot bear any more,' he added.
