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Jordan will host a Jordanian-Syrian-American meeting on Tuesday to discuss ways to support the rebuilding of Syria, its Ministry of Foreign Affairs and Expatriates said, as Damascus seeks investment deals with international companies to revive its war-ravaged economy, Al Jazeera reported.
Syrian Foreign Minister Asaad al-Shaibani and United States envoy to Syria Thomas Barrack are expected to attend, the ministry said in a statement on Sunday, Al Jazeera added. Syrian President Ahmed al-Sharaa's fledgling government has been grappling with the fallout from sectarian violence between Bedouin and Druze fighters in the southern province of Suwayda as well as Israeli strikes on Syrian soldiers and the capital, Damascus, Al Jazeera reported. Syria's economy remains in tatters after nearly 14 years of war and the ouster of longtime President Bashar al-Assad in December, Al Jazeera said. Jordan made its announcement after Damascus signed 12 agreements worth $14 billion on Wednesday, including a $4 billion agreement with Qatar's UCC Holding to build a new airport and a $2 billion deal to establish a subway in Damascus with the national investment corporation of the United Arab Emirates, Al Jazeera reported. The projects "will extend across Syria and represent a qualitative shift in infrastructure and economic life," Talal al-Hilali, head of the Syrian Investment Authority, said during a ceremony at the presidential palace in Damascus, according to Dawn. He described the agreements as "a turning point" for Syria's future, Dawn added. Al-Sharaa and Barrack were both present at the signing ceremony, according to Syria's official SANA news agency, as reported by Al Jazeera. The United Nations has put Syria's post-war reconstruction costs at more than $400 billion, Al Jazeera noted. Syria's new authorities have worked to attract investment for the reconstruction of infrastructure across the country after the US and the European Union lifted sanctions on Syria in the wake of al-Assad's ouster, Al Jazeera said. Other major developments on the investment front include the $2 billion Damascus Towers project for residential high rises, signed with the Italian-based company UBAKO; a $500 million deal for the Baramkeh Towers project, also in Damascus; and another $60 million agreement for Baramkeh Mall, Dawn reported. Last month, Saudi Arabia said it would invest about $3 billion in real estate and infrastructure projects in Syria, Al Jazeera reported. In May, Damascus signed a $7 billion energy deal with a consortium of Qatari, Turkish, and US companies as it seeks to revive its crippled power sector, Al Jazeera added. (ANI)
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