Minister of Economy: Privatization is not an accusation , and the approach of a free economy does not mean the absence of the state

The  activities of the "First National Conference for the Private Sector Dialogue in Syria 2026", organized by the Ministry of Economy and Industry in cooperation with the United Nations Development Programme (UNDP) and in partnership with the Government of Japan, kicked off at the Palais des Congrès in the capital Damascus on Monday, June 1st.

Slogan: Open ambition and not building with slogans

In his opening speech, the Minister of Economy and Industry, Mohammed Nidal Al-Shaar, stressed that Syria is going through a historical stage that calls for building a new economic model that combines realism, ambition and openness, taking advantage of international models that have achieved short development leaps to adapt and build a special Syrian model based on the energies of the people, the experiences of their people at home and abroad, and its geographical location.

The slogan  stressed that the modern economy is no longer measured by the size of GDP or capital expenditure, but by its ability to integrate into regional and international value chains and transform resources into tangible competitive advantages that citizens feel in their daily lives.

  Minister Al-Shaar said that adopting the approach of a free economy does not mean the absence of the state or the abandonment of market controls, but rather requires a delicate balance between freedom of initiative and the strategic role of the state, as renaissance is not built on slogans, but on efficiency, discipline and stability.

Al-Shaar explained that the role of the state is not reduced to a traditional debate between public ownership and privatization, pointing out that privatization should not be treated as an accusation or an automatic solution by default, as the essence is not who owns the asset but the extent of the ability to achieve sustainable economic value, considering the economic and professional empowerment of women and expanding their participation in small and medium enterprises as a key pillar of a more just economy.

Japanese support for recovery and a UN vision for a new economic contract

For his part, Japan's ambassador to Syria, Akihiro Tsuji, reiterated his country's unwavering support for dialogue with the private sector to Tokyo's belief that a stable recovery path requires close cooperation with the Syrian state.

The Japanese ambassador reiterated  Japan's commitment to respect Syria's right to lead its recovery and work with local partners to revive economic activity, create jobs, and support local communities across the country.

In the same context, UNDP Acting Resident Representative Ruhi Al-Afghani noted that the conference in Damascus carries a clear message of moving from humanitarian response to recovery and sustainable development.

  The repercussions of the conflict have cost the Syrian economy significant losses in GDP over the past 14 years, but the private sector has remained present and able to withstand, he said, calling for the formulation of a "new socio-economic contract" that takes into account environmental and social dimensions and the development of skills.

  Regional integration, the reconstruction of trade corridors and the activation of joint agreements are key pillars for stability and prosperity, he said, stressing the UNFPA's commitment to supporting Syrian partners at home and abroad to rebuild.

Conference Calendar

The conference aims to enable the Syrian private sector to contribute effectively and systematically to the formulation of a common vision for the future of the Syrian economy, and to participate in setting priorities for economic recovery and practical paths to build a competitive, productive and sustainable economy based on public-private partnership.

The conference is a platform to discuss the operational and legal challenges associated with doing business in Syria, and to discuss solutions and incentives needed to promote private investment and build trust between various parties and relevant partners.

The conference is organized by the Ministry of Economy and Industry in partnership with the United Nations Development Programme (UNDP), with the support of the Government of Japan, and implemented by the Syrian Forum Foundation, with the aim of strengthening public-private partnerships, supporting the path of economic recovery and improving the business environment in Syria.

The first day's program includes three main sessions: "A New Public-Private Partnership" and "What can the private sector do in support of economic recovery and development goals?" , and "What are the financial challenges and opportunities to empower the private sector".

The conference will witness specialized side events including: "Opening Channels for the Syrian Private Sector", "Rebuilding Value Chains and Enhancing Competitiveness", "Investing in Syria", and "Empowering Women Entrepreneurs as Drivers of Recovery".