Syria, UAE to Establish Joint Investment Company
Syria and the United Arab Emirates have signed an agreement to create a joint Syrian-UAE investment company similar to one set up by Syria and Saudi Arabia one year ago, reported the Daily Star newspaper on Monday.
Syria’s ambassador to the UAE, Ahmad Al Hallak, and Abu Dhabi Chamber of Commerce president Said Bin Jabir Al Souwaydi said Sunday that the company would be responsible for implementing and funding many investment projects in Syria and creating a link between Syrian and Emirati businessmen.
The suggestion, presented earlier this year by Hallak, had been approved by the Abu Dhabi Chamber, and talks had been under way for the project, said the paper.
Souwaydi discussed the new venture between the two countries, saying that cooperation between them was a must.
“The investment opportunities available in Syria are no doubt big,” he said. “We will work to benefit from them through calling on UAE businessmen to invest in Syria and concentrate on infrastructure and tourism services.”
The UAE as a whole “opens its doors wide before any Syrian investment, through privileges and financial facilities,” he said, cited by the paper.
In October 2001, he said, a joint committee of Syrian-UAE businessmen will be created to formulate general strategies and management policies for the company – Albawaba.com