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Syria: Investments forecast at USD 132 billion in 2015

Global Arab Network - - Maha Karim

Friday, 14 August 2009 15:06

Syria is expected to witness "a wave of considerable investments" in the near future despite fallouts of the global financial crisis, Minister of Economic Affairs Abdullah Al-Dardari said.
Al-Dardari, speaking at the third conference for tourism investment and real-estate development, organized by the ministries of tourism and housing and construction at the Damascus Fairground, said the Syrian economy, in spite of the "storm of the international financial crisis will post tangible development and Syria will emerge after the global crisis as the most qualified place for investments."

The Syrian economy has remained robust despite the effects of the external crisis for its dependence on diverse sources of income, he added.

Al-Dardari said his upbeat outlook was based on concrete factors, namely the hike of the agricultural, industrial production and the boom in the sectors of services and transit, that made up for the shortfalls in some other sectors such the exportation of textiles.

Tourism, till July 2009, posted a growth of 12 percent, and that was due to the significant rise of the Arab and foreign tourists, Al-Dardari elaborated.

He estimated the forecast investments in the country by 2015 at USD 132 billion, including USD 55 billion to be spent in the infrastructure.

The national economic growth is forecast to rise eight percent in 2015, Al-Dardari said, adding that unemployment would drop four percent. (KUNA)

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Last Updated on Friday, 14 August 2009 15:55

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