The Syrian-British Business Council (SBBC) conference kicked off at the Golden Mezzeh Hotel in Damascus under the slogan "Building a Diversified Economy", with the participation of representatives from a number of ministries, as well as delegations and economic events from Syria and the United Kingdom.

The conference aims to discuss the prospects of supporting the Syrian economy and promoting economic diversification paths, by discussing a range of topics related to financial development, energy industries, the built environment, logistics and education sectors.

Promising Opportunities

In his speech during the opening, the Minister of Economy and Industry, Nidal Al-Shaar, stressed that Syria, after years of isolation and disconnection from the world, today has promising investment opportunities that qualify it to embark on a new phase of growth and development.

Al-Shaar pointed out that business councils are one of the most prominent tools to enhance Syria's new economic image and introduce the investment opportunities available to international investors, stressing the government's keenness to expand the horizons of cooperation and openness to various forms of international support and partnerships in a way that contributes to advancing economic development.

"We are counting on our partners and the business community to contribute to rebuilding the Syrian economy and achieving development and prosperity," he said.

For his part, Minister of Transport Yarub Badr stressed that Syria's geographical location has historically been a key element in linking trade routes between East and West, pointing to the importance of strengthening regional cooperation and developing transport networks with neighboring countries to support economic integration.

The Minister of Transport pointed out that Syria has a central road network that connects major cities, ports and airports and supports economic movement.

Minister of Tourism: An estimated increase of between 150 and 200 percent in hotel occupancy rates

Minister of Tourism Mazen Al-Salhani, during his participation in a dialogue session at the conference, stressed that the remarkable stability during the past months has contributed to attracting tourists, especially during the festive period.

Minister Salhani pointed out that an estimated increase of between 150 and 200 percent was recorded in hotel occupancy rates and the number of tourists compared to last year, in a positive indicator that reflects the return of confidence in the tourism sector.

He said: "We are working to address a number of hotel projects that have been in trouble since 2006 and reactivate them within new investment plans.

Partnership and transfer of expertise and knowledge

For his part, the Chairman of the Syrian-British Business Council, Munther Nozah, stressed that the large presence of delegations from the United Kingdom and other countries reflects the growing international interest in economic and investment opportunities in Syria, and strengthens bridges of cooperation with various partners.

Nozha explained that the council includes leading Syrian, British and international companies with extensive expertise in the sectors of energy, engineering, industry, technology, financial services and other vital sectors.

He added that rebuilding the Syrian economy does not only rely on capital, but also requires the transfer of knowledge, expertise, technology and modern management, in addition to establishing effective international partnerships between the public and private sectors.

He pointed out that Syria has promising investment elements thanks to its strategic geographical location and its potential in the sectors of transport, energy, tourism, industry, agriculture and infrastructure, which qualifies it to be a pivotal economic and logistical hub in the region.

In the same context, British MP Melanie Ward explained that Syrians today are looking forward to building a new future, revitalizing the economy, and creating opportunities that contribute to securing a better tomorrow within their homeland.

He pointed out that the conference focuses on discussing ways to support building a strong Syrian economy and developing mechanisms for economic recovery, in order to promote development and provide a more attractive environment for investment.

The Role of the Business Sector

For his part, British Member of Parliament Alan Gemmel stressed that the conference is an important step in supporting the development and reconstruction process in Syria, noting that the easing of restrictions and sanctions would enable governments and investors to contribute to supporting economic ambitions.

Gemel added that the business community will play a pivotal role in driving economic growth and job creation during the next phase.