The Syrian Opposition Coalition’s (SOC) political committee held a virtual meeting with the Minister of Finance in the Syrian Interim Government, Abdel Hakim Al-Masri, and a group of economic experts with the aim of studying ways to regulate investments and boost the economy in the liberated areas.
Participants in the meeting stressed the need to control the region’s economy by organizing it and placing it within a legal framework that guarantees the rights of all parties. They also stressed the need to activate the role of SIG’s ministries and institutions which will encourage Syrian and foreign businessmen to invest in the region.
They also discussed the challenges and obstacles to boosting the economy of the region, especially the lack of a safe investment environment, dilapidated infrastructure, lack of legislations and legal regulations to control investment, lack of a licensed financial institution affiliated with SIG, and most recently the outbreak of the coronavirus pandemic.
They also stressed the importance of exploiting the potential of the region as it contains several advantages, including the presence of large human capital, cheap workforce compared to the neighboring regions, the recent circulation of the Turkish lira, and the presence of some simple factories.
Participants in the meeting put forward a set of recommendations, including the formation of a supreme economic council or a joint committee affiliated with SIG, the conducting of a survey in the liberated areas to determine the available human and financial resources, and mapping the economy of the region.
They called for the provision of public services such as water, electricity and energy needed to operate the factories, health services, and the maintenance of some major roads to facilitate access to traditional markets.
They also recommended supporting and encouraging small and medium businesses, allocating a border area for investment, and facilitating exports. (Source: SOC’s Media Department)