(2 Jun 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Damascus, Syria – 2 June 2025
1. Officials ringing the bell at the Damascus Stock Exchange
2. Stock board
3. SOUNDBITE (Arabic) Mohammed Yisr Barnieh, Syrian Finance Minister:
++PARTLY OVERLAID WITH SHOT 2++
"We are open to investment — no restrictions, no obstacles. Anyone wishing to invest in Syria is welcome. They will find numerous opportunities, substantial benefits and the chance to build successful stories."
4. Sign, reading (Arabic) "Damascus Securities Exchange welcomes you to the ceremony of the resumption of trading at the Damascus Securities Exchange June 2, 2025"
5. SOUNDBITE (Arabic) Abdul al-Thuqasim, Chairman of the Board of Commissioners of the Securities and Financial Markets Authority:
"Foreign investments in Syria are a key focus of our efforts. The legislative framework is aligned with this approach. The resumption of trading in the stock market plays a fundamental role in boosting investor confidence.that conditions have become normal again. Investors will then have the opportunity to enter the market freely, buying and selling as usual."
6. Sign reading (Arabic): "Invest in the country for the country"
7. SOUNDBITE (Arabic) Naila Zakaria, General Manager of Syria and Al-Mahjar Financial Services Company:
++PARTLY OVERLAID WITH SHOT 8++
"Currently, the Damascus Securities Exchange is unfortunately limited to the financial sector. As you can see, most listed companies belong to the banking and insurance sectors, with only two industrial firms. Our goal as a financial market is to diversify sectors. And, in turn, establish ourselves as an emerging market in the Middle East."
8. Various of Zakaria talking at the stock exchange
9. Wide of ceremony
STORYLINE:
Trading resumed on the Damascus Securities Exchange Monday after a six-month closure, as Syria’s new leaders attempt to shore up the country’s battered economy and begin rebuilding after nearly 14 years of civil war.
The stock exchange had closed during the chaotic days leading up to the ouster of former President Bashar Assad in a lightning rebel offensive.
Syrian Finance Minister Mohammed Yisr Barnieh, who attended the reopening, said the resumption signals that the country’s economy is beginning to recover.
"We are open to investment — no restrictions, no obstacles. Anyone wishing to invest in Syria is welcome. They will find numerous opportunities, substantial benefits and the chance to build successful stories," he added.
The move to reopen comes as international restrictions on Syria’s financial systems begin to ease.
The United States and Europe both last month announced the lifting of a wide raft of sanctions that had been slapped on Syria under the Assad dynasty’s rule.
Last week, Syria inked a power deal worth $7 billion with a consortium of Qatari, Turkish and U.S. companies for development of a 5,000-megawatt energy project to revitalize much of Syria’s war-battered electricity grid.
The consortium led by Qatar’s UCC Concession Investments — along with Power International USA and Turkey’s Kalyon GES Enerji Yatirimlari, Cengiz Enerji — will develop four combined-cycle gas turbines with a total generating capacity estimated at approximately 4,000 megawatts and a 1,000-megawatt solar power plant.
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