Syrian deposits abroad valued at $60 billion

Published December 3rd, 2000 - 02:00 GMT

A recently released official report estimated at $60 billion the available Syrian funds abroad. According to Al-Watan newspaper, the report added that the Syrian government has been making substantial efforts to bring these funds back home.  


The government sent representatives to several Arab and foreign countries to explain the new economic and financial reforms and the investment climate in Syria to the Syrian businessmen and merchants living in these countries. This initiative aims to convince those people to invest their capital in their homeland.  


The Director General of the Syrian Investment Office in the Syrian Cabinet, Mohammed Serajein, estimates at $5.8 billion the value of the executed investment projects in Syria, following the enacting of Investment Law no 10.  


A recently released report by the Syrian Chamber of Commerce Association reported that there are 35,000 businessmen in Syria. By the end of 1999, there were 11,418 Syrian businessmen registered in the Damascus Chamber of Commerce. — (Albawaba-MEBG)

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