Travel News
Syria opens tourism investment forum
By DPA
Apr 26, 2006, 19:33 GMT

Damascus - In its continued efforts to attract investment and liberalize the economy, the Syrian government opened the 2nd Tourism Investment Market Forum Wednesday with the participation of Arab and foreign investors and businessmen.

The forum, from April 26-29, opened by Syrian Prime Minister Naji Otari reflects Syrian government efforts to attract Syrian, Arab and foreign investors to invest in tourist projects.

Syria's Official News Agency SANA said in a recent report that 3.4 million tourists visited Syria in 2005 signalling an increase of 15 per cent on the previous year.

The government is offering investment opportunities in 43 projects in 12 governorates. Last year's forum lead to 13 projects in the tourist field.

Well-known investor, Nazmi Augi of General Mediterranean Holding, told state-run newspaper Tishrin that his group was ready to enter the Syrian investment market with big investments and has a plan to do large investments.

He said that the group will build giant tourist projects in Damascus and Aleppo and the western coast, like projects the group had built in Spain, France and Luxemburg.

Syria has taken several steps to attract investment and issued new laws that meet investors' demands in accordance with international standards. The country is trying to liberalize its controlled economy. The ruling Baath party adopted at its tenth regional conference the Socio- Market Economy.