Syria’s investment environment experiences Damascene conversion

For thousands of years, Syria has been a regional trading hub due to its position as a crossroads for merchants and travelers. Damascus, after all, claims to be the oldest continuously inhabited city on earth, and the country’s covered souks are a standard must-see for any visitor and a still favored outlet for traditional and cheap goods. But in the years, since President Bashar al-Assad inherited his father’s political mantle, the Baathist state has come in from the economic cold and is realizing it has to open up to the idea of foreign investment, especially in the retail, tourism, construction and banking sectors. The message is loud and clear: there is clearly money to be made for companies and investors willing to stick their necks out to invest in Syria. While origins of the Damascene retail conversion can be traced back 40 years, change has taken on greater momentum in