The Damascus Securities Exchange has announced that it was auctioning off the shares of two prominent Aleppo businessmen.
Donors meeting in Kuwait last week pledged to pay USD 3.8 billion to help alleviate Syria’s humanitarian crisis.
An Iranian official has put his country’s help to Syria since 2011 at USD 4.2 billion.
Groups affiliated with the opposition took on Thursday the last border crossing with Jordan still controlled by the Syrian Government, leading to potentially significant damages to Syria’s foreign trade.
More than two thirds of import licences granted by the Government cover manufacturing and agricultural inputs according to a government official.
Idlib, the capital of one of Syria’s fourteen provinces, fell on Saturday outside the control of the regime and in the hands of a coalition grouping opposition forces and the Nusra Front.
Syria and Iran have signed new bilateral economic agreements that will boost further trade ties between the two countries but that are only one aspect of the growing dependency of Damascus towards its ally.
Syria’s economy lost some USD 203 billion in the last four years, according to a report recently released by a Damascus-based organisation.
The European Union has blacklisted several new Syria-related companies and individuals, including two Iran-related businessmen and another involved last year in the negotiations to release abducted nuns as well as in dealings between the regime and ISIS.
Four individuals of Syrian origin are listed in the world’s billionaires list published by Forbes magazine, although none of them built his wealth in the country.
Syrian officials are holding an increasing number of meetings with investors and officials from countries deemed friendly in an apparent bid to develop economic and trade ties.
The number of companies registered in Syria by the end of last year was slightly above 500,000 according to data from the Ministry of Economy.
The Syrian Government is trying to limit the demand for dollars and pressures on its currency by restricting import licenses, the Minister of Economy said.
The Swiss Leaks data, which provide information on over one hundred thousand account holders with the Swiss branch of HSBC, list Syria 40th worldwide among the countries with the largest dollar amounts.
Syria’s imports from Russia stood at around USD 1 billion in 2014, according to a Government official.
Dama Rose Hotel
The Green Economy
Damascus Chamber of Commerce