Doha, December 14 (QNA) - The Qatari Businessmen Association (QBA) received Sunday a Syrian delegation headed by Vice President of the Syrian Supreme Council for Economic Development Dr. Hazem Al Sharaa, in the presence of Director General of the Investment Authority Talal Al Hilali and Director General of the Syrian Development Fund Safwat Raslan.

HE Chairman of QBA Sheikh Faisal bin Qassim Al-Than said that Syria today represents an investment bank of projects and golden opportunities for investors. He stressed the need to develop joint Qatari-Syrian projects through the establishment of institutions specialized across various sectors - industrial, health, tourism, real estate, and others - given that the state's objective is to create job opportunities and stimulate economic growth. He emphasized that the private sector in both countries can play a prominent role in this direction.

For his part, Dr. Hazem Al Sharaa said that Qatar was among the first countries to invest in Syria to place Syria on the international investment map by strengthening international relations and attracting major companies to participate in the reconstruction of Syria.

Dr. Al Sharaa noted that the Supreme Council for Economic Development aims to achieve economic stability in the country, revitalize and develop the economy, and establish a comprehensive economic map covering the entire Syrian geography. This will be achieved through full supervision of a number of economic authorities, organizations, and institutions operating within the framework of the state's economic plan. He also confirmed that Syria will launch a completely new currency in the market at the beginning of the new year, in line with the requirements of the current phase.

During his meeting with Qatari businessmen, Dr. Hazem Al Sharaa focused on current economic projects in Syria that contribute to reconstruction and the development of infrastructure and vital sectors, with particular emphasis on energy, transport, tourism, real estate, health, education, and key industrial sectors such as pharmaceuticals and construction materials.

He also praised the significant investments by Qatari and Saudi companies in the development of power generation stations, as well as the signing of memoranda of understanding to modernize the electricity sector in general. This is in addition to the development of Damascus International Airport and the Damascus Metro project, in cooperation with Qatari and Turkish companies.

For his part, Director General of the Investment Authority Talal Al Hilali addressed the development of the legislative framework to attract and guarantee direct investments through the adoption of best international laws, allowing foreign investors to own 100 percent of their projects. He indicated that, in this new phase, the state has adopted measures to fully exempt investors from taxes in the health sector and agricultural projects related to food security, in addition to full tax exemptions for factories that export more than 50 percent of their production.

In turn, Qatari businessmen affirmed that Syria is currently witnessing a major economic transformation across various sectors, noting that most of them have already begun working on productive projects in Syria. They also announced that a delegation of Qatari businessmen will visit Syria at the invitation of the Supreme Council for Development, following an official invitation from President Al-Sharaa to Damascus to explore investment opportunities on the ground.

The Council, chaired by the President of the Syrian Arab Republic, is responsible for approving general strategies and plans related to investment. Its membership includes the Ministers of Economy and Industry, Energy, Finance, Tourism, Communications and Information Technology, Public Works and Housing, Agriculture, in addition to the Head of the General Authority for Land and Sea Ports, among others.

Several economic entities are affiliated with the Council, particularly the Syrian Investment Authority, the Sovereign Fund, and the Development Fund. (QNA)