Latest news with #Talalal-Hilali
L'Orient-Le Jour
3 days ago
- Business
- L'Orient-Le Jour
Investments in Syria: Grand announcements to mask the regime's failures?
For a country still reeling from 14 years of war, sectarian violence, and territorial fragmentation, the figure is striking: Syria's government just announced nearly $14 billion in foreign projects, focused on infrastructure, transportation, and real estate, were unveiled Wednesday during a ceremony at the presidential palace. 'These projects will cover the entire Syrian territory and represent a turning point in the country's economic life,' said Talal al-Hilali, head of the Syrian Investment Authority. He called the wave of deals 'a qualitative change' meant to open a new era of development. But can these announcements truly launch reconstruction and move Syria past recent episodes of chaos and insecurity?The list of initiatives suggests ambition: a $4 billion futuristic renovation of Damascus International Airport...
Daily Tribune
4 days ago
- Business
- Daily Tribune
Syria inks infrastructure, real estate deals worth $14 bn
Syria held a signing ceremony yesterday for agreements worth more than $14 billion, including investments in Damascus airport and other transport and real estate projects, state media reported. Since the overthrow of longtime ruler Bashar al-Assad in December, Syria's new authorities have worked to attract investment for the reconstruction of infrastructure destroyed in the country's devastating civil war. 'We are announcing a group of 12 major strategic projects for a total of $14 billion,' the head of the Syrian Investment Authority, Talal al-Hilali, said at the ceremony at the presidential palace. The plans include a $4 billion investment project for Damascus airport and $2 billion in investment for a Damascus metro, as well as more than $2 billion for a mall and two towers developments, he said. The projects 'will extend across Syria and represent a qualitative shift in infrastructure and economic life', Hilali said. Interim President Ahmed al-Sharaa and US special envoy for Syria Tom Barrack were both present at the signing ceremony, the official SANA news agency said. Barrack congratulated Syrian authorities on 'another great accomplishment', saying they will witness the rise of a 'new hub' in 'trade and prosperity'. The United Nations has put post-war reconstruction costs at more than $400 billion. Several deals have already been announced. Last month, Saudi Arabia signed major investment and partnership deals with Syria, valued at $6.4 billion. Also in July, Syria signed an $800 million deal with UAEbased company DP World to develop the port of Tartus, state media reported. In May, Syria signed a $7 billion energy deal with a consortium of Qatari, Turkish and US companies as it seeks to revive its crippled power sector.
Shafaq News
5 days ago
- Business
- Shafaq News
Syria inks massive investment deals
Shafaq News – Damascus The Syrian government signed $14 billion investment deals on 22 major projects spanning key sectors across the country, in a ceremony held in Damascus on Wednesday. During the ceremony, attended by Syrian transitional President Ahmad al-Sharaa, Investment Authority Director Talal al-Hilali outlined key initiatives, including a $4 billion overhaul of Damascus International Airport, a $2 billion metro system, $2 billion for Damascus Towers, $500 million for Baramkeh Towers, and $60 million for Baramkeh Mall. In his speech, US Special Envoy to Syria Tom Barrack described the investments as important for supporting stability and development in Syria. Meanwhile, the event featured visual presentations of the signed agreements, which also encompass residential and commercial projects in several provinces, including Homs, Hama, and Tartus.
