US Business Delegation Visits Damascus to Explore Investments

A United States economic delegation, including representatives from the US Chamber of Commerce and the United States Hispanic Chamber of Commerce, visited Damascus on September 15 and 16 to assess market opportunities and explore joint ventures. The visit follows the termination of US sanctions against Syria in July 2025, a move by the US Treasury intended to facilitate economic recovery.

During roundtable meetings organized by the Ministry of Foreign Affairs and Expatriates, the Government of Syria pitched investment opportunities in energy, telecommunications, and industry. Ministers outlined plans to modernize digital infrastructure with 5G networks and transition toward a free-market economy. Nidal al-Shaar, Minister of Economy and Industry, emphasized that Syria seeks US companies for their capabilities and expertise rather than just capital.

Syrian officials also highlighted streamlined investment approval processes, with Assistant Energy Minister Ibrahim al-Adhan noting that approval times have been reduced from years to months. This shift has already facilitated memoranda of understanding in the oil and gas sector. The Syrian Sovereign Fund confirmed that several projects and agreements are currently under negotiation. The International Monetary Fund projects that Syria will see double-digit economic growth in 2026, driven by trade, hydrocarbon production, and agriculture.