European investments set to enter Syrian market

Shafaq News – Damascus

Syria is witnessing an accelerated economic activity,
signaling a new phase of international engagement and cooperation, Michael
Ohnmacht, head of the European Union mission in Syria, told Shafaq News on
Saturday.

Ohnmacht pointed to a clear economic upturn, noting the wide
participation by Arab and European companies in exhibitions and events across
the country—a sign of growing confidence in Syria’s future.

He also welcomed the renewed cooperation after 14 years of
limited engagement, projecting that new European investments and companies will
enter the vast Syrian market.

“The contours of the recovery are expected to become
more visible early next year,” he added, referring to a series of joint
projects coordinated through the Syrian Foreign Ministry, covering education,
health, and humanitarian programs.

His remarks followed last week’s Syrian Civil Society
Dialogue Day forum, during which Syria’s Foreign Minister Asaad al-Shibani
recognized the European Union as a key partner, hailing the Union’s
long-standing initiatives that have “remained active even throughout the
country’s most difficult years.”

While precise investment figures remain difficult to
establish, a 2024 report by the European Commission indicated that the Union
has provided over €38 billion since 2011 to support Syrian civil society
groups. An additional €2.5 billion allocated for reconstruction-related efforts
was also committed by EU foreign policy chief Kaja Kallas.

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