The founder and chairman of Al Habtoor Group, Emirati businessman Khalaf Al Habtoor, has revealed that preparations are underway to launch a new investment project in the Syrian Arab Republic.

Al Habtoor said last night, through a post on his account on the X platform, "I am preparing to return to the UAE soon for a short working visit, to follow up on a number of projects that we are working on developing, and to see the latest stages of preparation for them."

Al-Habtoor added: "Among these projects is a new project in the Syrian Arab Republic, the details of which we will reveal soon, and we hope that it will constitute an added value to the Syrian market, and that it will be a new step that reflects our confidence in the future of Syria, and our belief in the ability of its people to build and restore its economic status."

Providing a safe environment for investors

In a separate post yesterday, Al Habtoor said: "There are countries that succeed in attracting investment, and there are countries that only succeed in talking about it.

He added: "If we want to know why, the answer is very simple: the countries that look at the investor as a partner in development, and provide him with a safe and stable environment, are the countries that succeed and prosper, and become a destination for capital and competencies from around the world."

He continued: "As for the countries that say they want to attract investors and create an attractive environment, they are content with launching initiatives and slogans that look beautiful on paper, but they do not translate into reality by ensuring even the lowest levels of security and safety for them, they will not achieve what they aspire to, no matter how many conferences or statements."

Investment "is not attracted by words, but by action. The investor is not convinced by the title of an initiative, but by what he sees on the ground."

Al Habtoor: I will not participate in investment projects

In an interview with CNBC last June, Al Habtoor stated that he would not participate (currently) in any investment projects in Syria, even in partnership with government agencies, expressing his readiness to provide humanitarian and charitable support only at this stage.

Later, the businessman published a statement on the X platform in which he denied that Al Habtoor Group has retreated from its investment plans in Syria, explaining that the group has entered the Syrian market since last September and started its activity through humanitarian initiatives and social contributions, in addition to working in the automotive sector and related services.

At the time, he said that the group has been studying and designing a large investment project in the capital Damascus, describing it as "a distinctive project worthy of the Syrian capital and constitutes a milestone at the level of the city and the region."

In his statement, Al Habtoor explained that the non-announcement of the project is not due to the retreat of the investment, but rather to the keenness to choose a site that meets the requirements of the project, stressing his understanding of the conditions and responsibilities faced by the Syrian government at the current stage.