On March 10, Syrian Finance Minister Mohamed Hussein rang the bell to launch trading at the long-awaited opening of the Damascus Securities Exchange (DSE). Despite its humble size, the DSE is yet another sign that Syria means business about the privatization and gradual liberalization of its state-controlled economy. Ever since President Bashar al-Assad came to power in 2000, the country has made significant progress in its aim to become a “social market economy,” reminiscent of China. Initiated by presidential decree in 2006, the DSE is a public institution that, once it stands on its feet, is scheduled to be transformed into a private shareholding company. Six companies are currently registered on the bourse: Banque Bemo Saudi Franci, Bank of Syria and Overseas, United Group for Publishing, Advertising and Marketing, Arab Bank-Syria, Alahlia Company for Transport and Bank Audi Syria. Four other companies have applied to be registered. The DSE expects
