The 26th edition of the Buildex international exhibition in Damascus has concluded with the signing of 21 official contracts, signaling a notable uptick in economic activity and investor interest in Syria. Finance Minister Mohammad Yassar Brnieh announced the deals, highlighting the entry of new companies into the Syrian market and a trend of importers shifting to establish local manufacturing facilities.
Quick Facts
- 21 official contracts signed during the expo.
- Over 1,400 brands from 51 countries participated.
- New foreign companies are entering the Syrian market.
A Platform for Reconstruction
Minister Brnieh described the event as a key indicator of Syria’s economic recovery, suggesting the country is entering a new phase of reconstruction and sustainable development. The scale of this year’s Buildex, organized by the Arabian Group for Exhibitions and Conferences, supports this view, with over 710 companies and 1,400 brands from more than 50 nations participating.
The four-day expo, held at the Damascus Fairgrounds, brought together firms specializing in construction, water technology, real estate development, engineering, and banking. Alaa Hilal, Director of the Arabian Group, confirmed that some of the most significant agreements signed were strategic projects in the energy and water sectors.
New Tax System to Attract Investors
In a bid to foster this momentum, Minister Brnieh revealed that a new tax system is forthcoming. He described it as the “simplest, best, and lowest in its rates compared to countries in the region,” designed to support low-income individuals while encouraging production and exports.
The minister emphasized that Syria’s current fiscal policy prioritizes support for the private sector, aiming to provide genuine growth opportunities. He positioned the country as a “safe haven for investment,” citing unprecedented tax advantages and incentives available across various sectors.
Growing Private Sector Confidence
The increased participation of foreign and Arab companies reflects a growing confidence in the Syrian market, according to Ghassan Sukkar, Deputy Head of the Damascus Chamber of Commerce. He noted that Buildex provides a practical opportunity for traders and investors to discover the latest materials and technologies and forge new partnerships.
This sentiment was echoed by business activity on the ground, where local, Arab, and foreign companies showcased the latest in construction technology and engineering materials, creating an interactive platform for new investment in a market steadily moving toward recovery.
About Buildex
Buildex is an international exhibition for construction and building materials held annually in Damascus, Syria. Organized by the Arabian Group for Exhibitions and Conferences in cooperation with the Ministry of Local Administration and Environment, the event serves as a key platform for local and international companies to explore investment opportunities, showcase new technologies, and form partnerships in Syria’s reconstruction and development sectors.
Source: SANA
