The Syrian government has introduced a series of new measures aimed at regularizing the status of investors in the country’s industrial cities, signaling a renewed push to stimulate its industrial sector. The move coincides with high-level meetings between Syrian financial authorities and officials from the International Monetary Fund (IMF) and the World Bank to discuss technical support and capacity building for Syria’s financial and banking sectors.
Quick Facts
- New decree settles status of investors under old regulations.
- Building permits extended for up to 1.5 years.
- Talks held with IMF and World Bank for support.
Overhauling Industrial Investment Rules
A new decision issued by Syria’s Minister of Economy and Industry, Nidal al-Shaar, provides a pathway for investors operating under previous investment systems, specifically those preceding the 2025 decree No. 432. The new rules grant a 1.5-year extension for building permits from the date of the decision. For licenses that have already expired, a one-time renewal for a 1.5-year period will be granted.
This measure effectively provides a grace period for investors to proceed with their projects, while also cancelling previous articles related to granting and renewing construction licenses under the old systems. This legislative clean-up is part of a broader strategy, initiated in June 2025, to create a more attractive environment for both local and foreign industrial investment and to encourage technology transfer.
Re-Engaging with Global Financial Institutions
In parallel with these domestic reforms, Syrian officials have been actively engaging with international financial bodies. On the sidelines of the 2026 Spring Meetings of the IMF and World Bank in Washington, Syrian Minister of Finance Mohammed Yasser Barania and Central Bank Governor Abdul Qader Al-Hasriya met with senior officials.
Discussions centered on technical support programs to develop Syria’s financial infrastructure. Key areas included strengthening the Central Bank’s policies and supervisory capabilities, enhancing the Insurance Supervisory Authority, and developing the Syrian Commission on Financial Markets and Securities. The meetings also explored assistance for the Ministry of Finance in issuing treasury bonds and sukuk to create new tools for managing liquidity.
Further talks were held with Jihad Azour, the IMF’s Director of the Middle East and Central Asia Department, focusing on cooperation in improving economic statistics, particularly for the external sector and the balance of payments. In a separate meeting with World Bank officials, including Akihiko Nishio, VP for Development Finance, Syria’s needs for concessional financing and grant mechanisms were on the agenda.
Enhancing Central Bank Capabilities
Central Bank Governor Abdul Qader Al-Hasriya also met with the World Bank’s Reserves Advisory and Management Partnership team. The focus was on securing specialized technical assistance for the Central Bank’s reserve and gold management department.
According to Al-Hasriya, recent positive economic developments, including the lifting of certain sanctions, present an opportunity to reactivate investment and improve the management of the country’s reserves. He framed this cooperation as the start of a reform path aimed at bolstering financial stability and supporting the national economy’s reconstruction efforts.
About The Syrian Ministry of Economy and Industry
The Syrian Ministry of Economy and Industry is the government body responsible for formulating and implementing economic and industrial policies in Syria. Its mandate includes regulating trade, promoting investment, developing industrial zones, and overseeing state-owned enterprises to support national economic growth and development.
Source: Al Arabiya
