On Wednesday, the Palace of Conferences in Damascus witnessed the third and final day of the first National Conference for the Syrian Private Sector Dialogue, where the first dialogue session was held under the title "The Role of International Development Partners in Supporting the Syrian Private Sector".
The session was widely attended by representatives of donors, international development partners, decision-makers, experts, as well as a wide range of businessmen and representatives of the Syrian private sector from various governorates.
The session was an interactive platform for direct discussion between national economic actors and international partners on how best to support the recovery and development of the private sector in Syria, and to review existing challenges, possible solutions and best practices in supporting the business and investment environment, as well as enhancing the capabilities of this sector to enable it to contribute more to economic growth, create sustainable job opportunities, and transform available opportunities into programs and initiatives with tangible impact.
Central Bank Governor: Trust and stability are the basis of reform
In this context, the Governor of the Central Bank of Syria, Mohammed Safwat Raslan, stressed in an extended speech during the events that trust represents the main pillar and the logistical starting point for the success of any economic or financial reform, stressing that the next stage urgently needs a real and deep participatory formulation between the state and the private sector, based on the collective belief that supporting productive projects is a direct investment in stability, job opportunities and improving the daily lives of citizens.
Raslan explained that the Central Bank continues to work hard and gradually to develop and activate contemporary monetary policy tools, in addition to improving liquidity management, modernizing payment systems, and improving financial and banking services provided to individuals and companies.
He pointed out that the difficult challenges faced by the country during the past years have not deterred the Central Bank from seeking to build the largest and most attractive environment for business in Syria, capable of attracting local and foreign investments and stimulating economic activity.
The Governor of the Central Bank pointed out that the economic recovery is not the responsibility of one party, but rather a national effort in which everyone participates, expressing his hope that the outcomes of the conference will lead to practical steps that rely on advanced and internationally proven tools to manage monetary policy, stimulate financial markets, and support private economic initiatives.
European Vision: Linking Syria to the Global Financial System
For his part, the Chargé d'Affaires of the European Union Mission to Syria, Mikhail Unmacht, announced during his speech at the same session, a new positive vision towards the future of the Syrian economy, stressing that the private sector will be the main engine of growth and development in the country during the next phase.
Unmacht stressed that international partners are ready to provide all possible logistical and technical support to help him achieve this, especially in the post-sanctions environment imposed on Syria.
Unmacht stressed the urgent need to link Syria's economy to the outside world through channels of trade, finance, and smooth financial flows, and to re-link Syrian banks to international banks to facilitate trade exchange, reaffirming that the European Union has lifted its sanctions to facilitate this path and continues to support recovery efforts. The European official described Syrian entrepreneurs, companies, workers, and capital as the main pillar and backbone of the country's economic recovery process, and issued an explicit call to all international bodies to provide the necessary support and flexible funding to enable them to regain their vanguard role.
Closing Discussions and Future Visions
The conference included two main sessions, the second session discussed "The Economic Vision for Syria's Future", focusing on the priorities of long-term economic recovery, prospects for sustainable growth, and strategic partnerships supporting the industrial and commercial sectors, in parallel with specialized side events that discussed cross-border trade, the development of Syrian exports, and the mechanisms of financing small and medium-sized enterprises.
Participants in the conference expressed great optimism about the current economic turnaround, stressing the need to strengthen cooperation with international financial institutions and build investment confidence to attract Syrian expatriates and friendly capital.
The conference concluded with the formulation and announcement of the most prominent outputs and joint recommendations issued by the public and private sectors, which focused on facilitating government procedures, providing tax incentives for productive projects, and developing the legislative environment to ensure the support of the business environment and promoting investment and production as an effective input to achieve sustainable economic results in Syria.