Matthew Dannoun

Damascus, Jan. 12 (SANA) In a bid to boost its tourism sector, Syria has launched a government-backed programme to upgrade one- and two-star hotels, a key part of the National Tourism Strategy 2026–2030. The initiative aims to improve service quality, enhance destination competitiveness, and support the recovery of the tourism industry. Partnership Model for Improvement The programme targets 332 hospitality establishments, including 224 two-star hotels and 108 one-star hotels. It provides affordable financing solutions in collaboration with the National Islamic Bank, with plans to expand funding sources in the future. This ensures the implementation of phased improvement plans that raise the standards of the hotel market and enhance sustainable tourism recovery. The initiative takes a partnership approach, working with hotel owners to implement realistic, phased upgrades tailored to each property’s needs. It focuses on key areas like hygiene, safety, service quality, and management pra...

Damascus, Jan. 5 (SANA) Minister of Economy and Industry Nidal al-Shaar held talks on Monday with Chargé d’Affaires at the German Embassy in Damascus, Clemens Hach, on ways to expand cooperation in industry, trade and investment. The discussions focused on strengthening economic ties and maintaining coordination to serve mutual interests, as Damascus seeks to attract foreign investment and revive key economic sectors. The talks form part of broader government efforts to expand economic relations with friendly countries and support development and reconstruction projects, officials added. Source: SANA 

Head of Syria’s Investment Authority met Tuesday with a delegation from U.S. energy giant GE Vernova to discuss potential investments and technology transfer to the Syrian market. The Authority’s Director-General, Talal al-Hilali, outlined Syria’s investment law, highlighting incentives and opportunities for foreign companies. He noted that GE Vernova’s business areas align closely with Syria’s national development priorities and could play a key role in supporting technology transfer and economic growth. The GE Vernova delegation expressed interest in entering the Syrian market and contributing to the nation’s rehabilitation and development. They also emphasized their readiness to share expertise in education and capacity-building within the relevant sectors. The meeting is part of Syria’s broader push to attract strategic international investments aimed at developing vital industries and advancing sustainable development. GE Vernova is a leading global energy company that includes Po...

Syria has registered more than 18,000 new companies in the year following its liberation from the former regime, the Ministry of Economy and Industry said Tuesday, marking an increase of 9,348 compared with the previous year. According to the ministry, 13,598 of the new businesses were individual commercial registrations, while 1,526 were general partnerships, 158 limited partnerships, 63 joint-stock companies, and 2,678 limited liability companies. The ministry attributed the surge to government efforts to streamline procedures for establishing and managing businesses and to improve investor services. In July, the Ministry reopened the Companies Directorate in Damascus after full renovations aimed at offering more flexible and higher-quality services to investors and entrepreneurs. The ministry added that 11,172 companies were registered from January through September, highlighting a faster registration pace in the final quarter of the year. Source: SANA 

The Syrian Petroleum Company signed on Tuesday a memorandum of understanding with leading global energy companies, ConocoPhillips and Novaterra Energy, to develop several gas fields and launch exploration programs for new fields, the Ministry of Energy announced on its Telegram channel. The ministry stated that the agreement aims to broaden cooperation in the natural gas sector and boost national production. It noted that the development and exploration programs will be conducted according to the latest technical and technological standards to support the country’s energy security The signing of the memorandum comes as part of the Ministry of Energy’s efforts to expand partnerships with international companies and improve the production infrastructure of the oil and gas sectors. The Ministry says this step will contribute to achieving additional economic returns and supporting recovery and development plans in Syria. The Syrian government has been working to revive the oil and gas sect...

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The Ministry of Information and the Central Bank of Syria held a coordination meeting today at the Central Bank headquarters in Damascus to prepare for the launch of a comprehensive media campaign marking the upcoming issuance of Syria’s new national currency. The meeting was chaired by Minister of Information Hamza al-Mustafa and CBS Governor Abdulkader al-Husrieh, with the participation of senior officials from both institutions. Discussions focused on the technical and communication aspects of the national campaign to ensure the effective delivery of awareness messages to all segments of society. The campaign aims to build public confidence in the new monetary policies and highlight the positive economic impact of the new currency issue. Both sides emphasized the importance of close coordination between media institutions and financial authorities to support Syria’s broader economic plans. The Minister of Information underscored the role of national media in providing accurate infor...