Banks’ Role in Encouraging Investment Environment

Damascus, (ST) – Representatives of the public banks, the Syrian General Insurance Corporation and the industrial cities discussed here with the Syrian Investment Agency the role and importance of public banks to improve and promote the investment environment in industrial cities and areas and mechanisms for opening branches of banks in cities.

During the meeting, participants discussed ways to develop the investment sector and strengthen cooperation between banks and industrial areas and cities to contribute to the development of the investment environment, stressing the importance of overcoming the difficulties and obstacles that stand in the way of implementation of investment projects.

Deputy Director General of the Syrian Investment Authority Dr. Inas Umawi confirmed that the body is working to implement its strategy to pursue investment projects and the reality on the ground through the field tours to cities and industrial areas, pointing out that the Authority continues its support for investment projects and the provision of facilities and services to investors and industrialists despite the crisis in Syria and its repercussions on national economy.

Representatives of commercial, industrial and real estate banks, spoke about the importance of the opening of branches in industrial cities and areas, the obstacles and difficulties especially Western sanctions.

A number of investors and industrialists indicated to the problems and obstacles facing their work, especially the lack of funding and financial facilities and loans from banks in addition to the problems caused by the lack of branches in industrial cities and areas.

Sh. Kh