Syria News & Insights
IMF Reports Signs of Economic Recovery; GDP Growth Projected Near 10%
In February 2026, the IMF concluded a staff visit to Syria and reported signs of economic recovery with a financial reform program underway. Syria's GDP is projected to grow by nearly 10% in 2026, attributed to the easing of sanctions, improved security conditions, and the return of skilled professionals.
Syria Passes Landmark Investment Law 114 — 100% Foreign Ownership Allowed
Syria enacted Investment Law 114, allowing foreign investors to own 100% of projects and fully repatriate profits. Medical and agricultural sectors receive complete tax waivers, while manufacturers exporting 50%+ of products can receive up to 80% tax relief. The law also enables international arbitration in disputes.
Syria Launches New Currency with Two-Zero Redenomination
Syria's Central Bank launched a major currency reform, removing two zeros from the Syrian pound (100 old = 1 new). The exchange process began January 1, 2026, running for 90 days at over 1,000 designated outlets. By late February 2026, a third of all cash had already been replaced as part of broader monetary stabilization.
Syria Resumes Oil Exports for the First Time in 14 Years
On September 1, 2025, Syria dispatched 600,000 barrels of heavy crude from the port of Tartous, marking the country's first crude oil export since international sanctions were imposed. Production recovery is expected through 2026 driven by facility repairs and field workovers.
Syria Signs $14 Billion Infrastructure Deals Including Damascus Airport Rebuild
Syria signed 12 major strategic investment deals valued at $14 billion covering infrastructure, transportation, and real estate. Highlights include a $4 billion Damascus Airport modernization project awarded to a Qatar-led consortium, $6.4 billion in Saudi deals, and a $2 billion UAE-backed Damascus metro project.
US, EU, and UK Lift Economic Sanctions on Syria
In a historic shift, the EU formally lifted most economic sanctions by May 2025. On June 30, 2025, President Trump signed an executive order terminating the US Syria Sanctions Program, enabling financial services and transactions with the new Syrian government. The UK also removed most sectoral sanctions.
$28 Billion in Foreign Investment Pledged Within Six Months
Within six months of the fall of the Assad regime, Syria secured $28 billion in investment pledges, primarily in infrastructure, energy, and real estate. The US, Turkey, Qatar, Saudi Arabia, and the UAE were among the largest investors. Syria aims to rebuild through investment, not aid.
World Bank Approves $146 Million Electricity Emergency Grant for Syria
The World Bank approved a US$146 million grant for the Syria Electricity Emergency Project — the first World Bank project in Syria in nearly four decades. The grant will rehabilitate high-voltage transmission lines and transformer substations, improving daily power availability from 2-4 hours to 13 hours.
$7 Billion Energy Deal to Meet Half of Syria's Electricity Demand
A landmark $7 billion power generation deal was signed with Qatar's UCC Holding, US-based Power International, and Turkish partners. The deal covers four combined-cycle gas power plants totaling 4,000 MW and a 1,000 MW solar energy project, expected to meet over half of Syria's electricity demands.
Central Bank Reforms and Federal Reserve Account Opening
New Central Bank Governor launched a five-year reform strategy focused on monetary stability and modernizing financial oversight. In October 2025, the Central Bank opened a financial channel with the US Federal Reserve Bank of New York — a transformative step toward rebuilding Syria's sovereign credit profile.
Company Registrations Resume in Syria with Import-Export Boom
Company registrations resumed in February 2025, with 50 new companies formed that month and 47 more by late March. Roughly 80% of new registrations are trading and import-export enterprises. An LLC in Syria requires minimum capital of ~$5,000 USD, with foreign nationals permitted to hold up to 100% ownership.
Syria Visa Policy Overhaul: Visa-on-Arrival for Most Nationalities
Under the new government, Syria now offers visa-on-arrival at all border crossings and airports, eliminating the previous requirement for security clearance through tour operators. Visa fees must be paid in cash in US dollars. Citizens of Jordan, Malaysia, and Mauritania enter visa-free.