The first Syrian-American Business Forum, organized by the Ministry of Economy and Industry in cooperation with the Syrian-American Business Council, kicked off in the capital Damascus on Monday, with the wide participation of representatives of ministries and economic and commercial events in Syria and the United States of America, at the Dama Rose Hotel.

According to the forum's organizers, this prominent economic event seeks to achieve three main goals: to open new horizons for joint economic cooperation between Syria and the United States, to discuss the future of the Syrian economy in the recovery phase by reviewing the economic reform agenda, in addition to highlighting promising investment opportunities in various development sectors.

A new chapter and the removal of barriers to trade and investment

In his opening speech, Minister of Economy and Industry Nidal Al-Shaar stressed that the forum opens a new chapter in economic relations between Damascus and Washington, based on cooperation, partnership and building a common future.

Al-Shaar expressed his appreciation to US President Donald Trump following his historic decision to remove Syria from the United States' list of countries classified as sponsors of terrorism, explaining that the recent US decisions are not limited to a change in policies, but also remove barriers that hindered trade, thwarted investment, and restricted financial participation for many years, and pave the way for building a new economic relationship based on the pillars of the future rather than on the remnants of the past.

For his part, the Chairman of the Syrian-American Business Council, Essam Gherwati, described the forum as a declaration of confidence, a milestone for the renewal of the economic partnership, and a historic milestone that allows the American and Syrian sides to meet in Damascus to discuss investment and innovation, noting that this historic moment opens the door to a new chapter of openness and growth in various fields.

Promising opportunities in the energy sector and offshore investment contracts

At the level of strategic sectors, the CEO of the Syrian Petroleum Company, Yousef Qiblawi, stressed that the oil and gas sector in Syria is full of promising opportunities and has great resources and capabilities that qualify it to play a pivotal role in supporting reconstruction projects.

Qiblawi revealed that the company has signed a number of important memorandums of understanding with international companies during the past period, most of which have already turned into investment contracts in the energy sector, pointing out that there is a clear plan to expand international investments, especially off the Syrian coast in the Mediterranean Sea in the coming period.

American Advisory Perspective

Timothy Lenderking, Director at Square Patton Boggs and former Senior Counsel in the U.S. Department of State's Bureau of Near Eastern Affairs, said Syria has very promising opportunities in the coming phase, announcing his firm's contribution to providing legal and advisory expertise to support building bridges of cooperation between the public and private sectors, and attracting international capital to participate in development projects.

In a related context, US Deputy Assistant Secretary of State Jacob McGee, in a video address, stressed that Syria has "moved from the stage of economic isolation to a new phase of openness."

He revealed joint moves to integrate the country into the international financial system, saying, "We are working with the Syrian government to facilitate Syria's integration into the global financial system, and to provide banking solutions and a clear regulatory environment that supports the movement of investment."

He pointed out that US companies have already begun to "explore investment opportunities in Syria, amid growing interest in concluding agreements and building partnerships in various sectors".

These steps coincided with the emergence of the first indicators of economic recovery, he said, represented by "the growth of tourism activity and the return of increasing numbers of refugees".

Conference Sessions

The forum's program is not limited to presenting general investment opportunities, but also addresses files that represent the basic structure of any orderly return of U.S. companies to the Syrian market.

The first session will address ways to build closer economic ties between the two countries, a theme that is expected to focus on the transition from political and institutional communication to direct trade relations, and identifying channels that companies can use to enter the market.

The practical value of this session is to clarify whether the next phase will be limited to visits and exploratory delegations, or will see the establishment of entities, partnerships, and the launch of projects or services linking the two markets.

The forum will dedicate a session to present what has been achieved by the government and the reform program for the years 2026 and 2027. This session is one of the most important topics of the forum for the investor, because the decision to enter the market depends not only on the existence of an opportunity, but also on the clarity of financial, tax, investment, banking and administrative policies.

The U.S. investor needs to know the reform path, the parties responsible for approvals, the mechanisms for transferring profits, the procedures for registering companies, contract guarantees, dispute resolution methods, and the stability of the systems during the life of the project.

A separate session will also discuss the modernization of the Syrian financial system, challenges, solutions, and ways to access capital, with the participation of officials from the Ministry of Finance, the Central Bank of Syria, the banking sector, and experts with expertise in U.S. financial institutions.

This axis is the most sensitive for any investment expansion, because sanctions relief alone is not enough to kick-start financing. Trade needs operable bank accounts, reliable transfers, documentary credits, collateral instruments, project financing, and correspondent relations between Syrian banks and foreign institutions.

The Syrian-American Business Council (USBC) has previously organized a discussion with an official at the US International Development Finance Corporation (CIFC) on project finance, political risk insurance, and opportunities for private sector engagement in Syria, suggesting that the financing file is not only a theoretical topic, but also as one of the pathways being explored institutionally.

The forum will dedicate a session titled "Building Syria's Energy Future: Investment Opportunities and Regional Connectivity," with the participation of representatives from the Syrian Petroleum Company and U.S. and international energy companies, including Hunt Oil.

Energy selection reflects a clear priority, as the improvement of electricity, oil and gas does not only serve one sector, but affects the costs of industry, agriculture, transport, services, telecommunications, and reconstruction.

The participation of companies with operational and investment experience in the region could open a discussion about exploration and production, oil services, power generation, renewable energy, infrastructure, and connecting Syria to regional energy markets.

Forum Participants

The forum includes Syrian officials from the financial, investment, telecommunications, energy and export sectors, including Finance Minister Mohammed Yusr Barnieh, Minister of Communications and Information Technology Abd al-Salam Heikal, Central Bank of Syria Governor Safwat Raslan, and Chairman of the Syrian Investment Commission Talal al-Hilali.

Also participating are Deputy Assistant Secretary of State Jacob McGee, former U.S. officials and experts, representatives of Hunt Oil,Tecore, and companies in fintech, energy, consulting, law, commerce, and supply chains.

This diversity is a strength, because the investment portfolio cannot be addressed through a single entity. An energy company needs a ministry, a bank, a lawyer, a local partner, and suppliers, while a technology company needs a communications infrastructure, payments, licenses, and human capabilities.