China’s role highlighted

The Syrian-Chinese relations are crucial to the reconstruction and building operations in Syria, plagued by about 9 years of foreign-backed war by multinational terrorists.

President Assad made it clear, in his recent Chinese Phoenix Television interview that the most important stage in reconstruction, which comes later and constitutes the most serious challenge for us, is restoring daily activity especially economic livelihood.

This requires a great deal of effort and is affected by internal factors and the external environment – namely the embargo imposed by Western countries on Syria, which has a negative affect and slows the process down.  So, reconstruction has already started, but we need more investments from within and outside the country in order to scale it up, outlined President Assad.

China specifically provides assistance in reconstruction particularly in the humanitarian domain.  Life’s necessities are water and electricity and China is providing support in these areas through humanitarian grants which we apply to the areas most in need….  Now, with the liberation of most areas, we have started discussions with a number of Chinese companies experienced in reconstruction.

We would hope that Chinese companies start looking and studying the Syrian market which is improving quickly and constantly in terms of security.It is essential that we start discussing investment opportunities, because it is well-known that rebuilding countries destroyed partially or totally by war is very profitable and has high returns-on-investment. 

We have started talking to a number of Chinese companies on finding ways to evade sanctions and have access to the Syrian market.  They have shown an interest because the process is profitable, disclosed President Assad, highly appreciating the support from China and other friendly countries in Syria’s reconstruction, as important.

An assertion was made that Syria is pursuing, on a daily basis, its fight against terrorism as to achieve the security needed for investment and as to develop investment law, based on international investment standards, in-line with similar laws in many other countries around the world.

This soon to be issued law clearly identifies the guarantees given to investors concerning their investment in Syria:  legal guarantees, financial guarantees, exemptions clearly laid out, the tax situation for their investments – and any other aspects which constitute a guarantee to ensure that this investment is completely safe and profitable, declared President Assad.

A solution must be found as to create sufficient or effective financial channels between Syria and China for the transfer of money as many Chinese companies are willing to send experts to Syria and as many Syrian industries have started to show interest in the Chinese market.

The president concluded that Chinese investment with Chinese capital needs more assurances; we must exert greater effort in this regard as a Syrian State and we hope the Chinese state with its relevant institutions – like the China Export and Credit Insurance Corporation, to encourage investors to come to Syria or at least to the areas which have become completely safe. 

Hopefully, Syria’s promising inclusion in the framework of the “Belt and Road” Initiative would further boost the deep rooted relations between both countries as they date back to many centuries including the era of Palmyra Kingdom, which was the Silk Road’s  pivotal trade hub linking the East to the West.

Dr. Mohamad Abdo Al-Ibrahim