Investors ready for post-Assad Syria

Investors ready for post-Assad Syria
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Published November 22nd, 2012 - 11:40 GMT via SyndiGate.info

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UAE-based investors are planning for the post-Assad era
UAE-based investors are planning for the post-Assad era
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 UAE-based Syrian businessmen will have investment worth $1 billion in Syria across different sectors in the post-Al Assad era, Esmail Al Saeedi, founder-member of the Syrian Development and Rescue Council told Gulf News on the sidelines of the Partnership to Invest in Future Syria Conference.

“Together with a group of Syrian businessman, we have concrete development plan to rebuild Syria infrastructure with a budget of over $1 billion and will target several sectors, real estate, service, education, health and education,” he said.

“The potential of investments in Syria after the collapse of the current regime is quite promising. Syria has all resources and human capital that enable the country to lead economic transformation.”

The US Ambassador in the UAE, Michael Corbin, told Gulf News: “The US is partner in this process and our role is strong support from the US government to this initiative by the UAE and Germany.”

He said: “ Any new Syrian government have to rebuild Syria’s economy and it is never too early to start rebuilding an economy and there are many of the brilliant gifted Syrians who are working to trail and salvage their country from the horrors.”

It is time to eliminate all the misdirection and mismanagement that Bashar Al Assad regime has organised through many years, Corbin said.

Dr. Abdul Qader Al Sankari, President of the Syrian Business Council in Dubai, said: “Despite the staggering damaging in the infrastructure and economy as well as the human tragedy, rebuilding future Syria will not take ages.”

However, he added: “What we usually lack in the Arab world is pre-planning. So, we should have a clear vision to develop strategies to revive our economy in the post Al Assad era.”

Emirati businessmen expressed their interest to reinvest in Syria after the collapse of the current regime. Dr Ahmad Belhasa said: “All our current investment in Syria has been put on hold. But once the regime collapses we will definitely have a lot of investment in the real estate sector across Syria when a total transformation in the economic environment will take place.”

Syria is a rich and potential pool for investments that will attract a lot of businesses to rebuild its infrastructure and regain economic stability, Belhasa added.

Volkmar Wenzel, personal envoy of the German Federal Foreign Minister for the change in the Arab world, said: “The Germen and the UAE governments are determined to fully execute the responsibilities. We took upon our shoulders in co-chairing the group of economic development within the group of the friends of the Syrian people.

“We are looking forward to today’s discussions and want to learn from your ideas and activities. We do this in the conviction which is shared by all present that the Syrian people need urgently the support today and for the time to come.

The US Ambassador to the UAE, Michael Corbin, told Gulf News: “The US is partner in this process and our role is strong support from the US government to this initiative by the UAE and Germany.”

He said: “ Any new Syrian government will have to rebuild Syria economy and it is never too early to start rebuilding an economy and there are many of the brilliant gifted Syrians who are working to trail and salvage their country from the horrors.”

It is time to eliminate all the misdirection and mismanagement that Bashar Al Assad regime has organized through many years, Corbin said.

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