Damascus Opens Two-Day Forum
The first Syrian–Emirati Investment Forum opened at the People's Palace in Damascus on 11 May 2026, drawing a high-ranking UAE delegation that met President Ahmed al-Sharaa and toured eleven sector workshops over two days. The event was organized by the Syrian Investment Authority to expand bilateral economic ties.
UAE Foreign Trade Minister Thani Ahmed Al Zeyoudi led the visiting delegation, alongside Omar al-Dorraei and Noura al-Kaabi, with workshops covering energy, real estate, banking, telecoms, transport, industry, health and tourism.
Trade Reaches $1.3 Billion
Officials disclosed during the chambers-of-commerce workshop that non-oil trade between Syria and the UAE reached approximately $1.3 billion in 2025. Ahmed Mohammed bin Salem, secretary-general of the UAE Federation of Chambers of Commerce and Industry, called the figure a "great indicator" preceding larger investments.
Syrian Economy and Industry Minister Mohammad Nidal al-Shaar opened the forum jointly with Al Zeyoudi, framing the talks as part of a wider opening to Arab capital after President al-Sharaa's visit to the UAE the previous month.
Tax Breaks and Sovereign Assets
Syrian Investment Authority chief Talal al-Hilali said the new legal framework grants full foreign ownership without forced partnerships, free profit and capital repatriation, complete tax exemptions for agriculture and health, and exemptions of up to 80 percent for industrial and productive sectors.
Officials from the Syrian Sovereign Fund, established by presidential decree in 2025, said the fund manages close to 2,000 real-estate assets valued at roughly $2.5 billion and was offering ten initial opportunities under build-operate-transfer and public-private partnership models.
Banking Reconnection in Motion
A central bank representative said Syria has begun reactivating correspondent relationships with several central banks, including the Central Bank of the UAE, with advanced steps under way involving France, Turkey and Jordan. Tier-two and tier-three foreign banks have resumed dealings with Syria, while tier-one banks are still observing the market.
The Syrian side outlined a three-year plan to restructure the financial sector covering banks, insurance, payments and fintech, and said draft laws on digital banking and electronic wallets are in their final stages.
Etihad Route and Energy Projects
Etihad Airways government affairs senior vice president Captain Khaled Hamid announced that scheduled flights between Damascus and Abu Dhabi will begin on 14 June 2026, with four weekly rotations initially and a planned move to daily service. UAE company Emia Power, which operates 2.6 gigawatts of generation, said it is studying rehabilitation of Syrian power stations and transmission networks.
Three regional airports — Latakia, Deir ez-Zor and Qamishli — were presented to investors, while UCC retains the Damascus International concession and Elaf operates Aleppo airport, with Zaha Hadid Group engaged on the Damascus expansion plan.