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FINANCIAL NEWS
Syria eyes $55b FDI in five years
27 Sep 2010
(MENAFN) Syria’s Deputy Prime Minister for Economic Affairs Abdallah Dardari said that Damascus aims to attract as much as $55 billion in foreign direct investment (FDI) over the next five years, Reuters reported.
About $25 billion of the investment will go into infrastructure projects, Dardari told reporters in Paris. Investment in Syria this year will reach $2.5 billion, he said.
The country�s economy will grow at about 5.8 percent this year and an average of 5.5 percent to six per cent over the next five years, he said.
Legislation will be introduced or amended on public procurement, non-government electricity generation, investment banking, leasing, mortgage financing, central bank independence and local credit guarantees, Dardari said. Syria is also considering starting an export guarantee program.
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