Sawiris Issues Open Call for Syria's Economic Reconstruction
Egyptian businessman Naguib Sawiris from the heart of the Syrian capital Damascus has issued an explicit call for Arab and foreign investors to enter the Syrian market, in a scene described as reflecting a shift in the regional economic mood.
Sawiris' remarks came during his visit to the Umayyad Mosque on Friday, June 26, where he expressed optimism about the future of Syria, saying that he feels "refreshed, hopeful and joyful," adding that the Syrian people have "finally been freed from the gang that ruled them," and that they have paid a heavy price to reach this stage.
"I am happy to be here, and I am happy to be part of the march of the future of Syria. I love challenges and difficulties, but what drives me more is the love that the Egyptian people have for the Syrian people."
In his speech, Sawiris restored the historical relationship between the two peoples, noting that Syrians who took refuge in Egypt during the years of war "never felt like strangers," and that many of them have achieved remarkable successes in various fields, calling for their return to contribute to the reconstruction of the new Syria.
" If I have decided to come to Syria, I invite everyone to come as well. The opportunities here are too great for a single investor to exploit, and the country needs every hand to build and participate."
President Al-Shara meets Cyrus
President Ahmed al-Sharaa received Cyrus last Tuesday at the People's Palace, in his first announced visit to Syria since the fall of the former regime, as part of the Syrian government's efforts to attract Arab and foreign capital to participate in reconstruction and economic development projects.
The meeting came as an extension of a series of meetings held by President Al-Shara with businessmen from Arab and regional countries, as part of a plan aimed at moving the wheel of investment and opening the real estate, telecommunications and transportation sectors to new partnerships.
Who is Naguib Cyrus?
Egyptian businessman Naguib Sawiris is the eldest son of the late Orascom Group founder Ansi Sawiris and the brother of Nassef and Samih Sawiris, who together form one of the Middle East's most prominent investment magnates.
Sawiris leads a wide range of investment activities, most notably Orascom Investment Holding, an Egyptian listed company that operates in technology, financial services, infrastructure, logistics, real estate and entertainment development, as well as Ora Real Estate Development, which implements projects in Egypt and abroad.
The mining sector is one of the most important pillars of its global activity through the La Mancha Group, which holds strategic stakes in major gold mining companies in Africa, Australia and the United States, making Sawiris one of the most prominent investors in this sector globally. He also had a long experience in financial services through Beltone Financial before exiting Beltone Capital.
Cyrus had previously invested in Syria's telecommunications sector through Araba, which later became MTN Syria, before exiting the market following disputes with local partners.