Syrian president says lifting sanctions opened door to investment, economic recovery - Anadolu Ajansı

Syrian President Ahmad al-Sharaa stated on Tuesday that Syria was “born again” after sanctions against the country were lifted, saying their removal opened the way for economic recovery, foreign investment and a stronger regional role.

Speaking at the Arab Media Summit 2026 in Dubai, the United Arab Emirates, Sharaa said Syria had faced an exceptionally extensive sanctions regime, with some restrictions dating back to 1979, leaving generations unfamiliar with international financial transactions and banking guarantees.

He said mediation efforts involving Arab and regional leaders, as well as Turkish President Recep Tayyip Erdogan in contact with US President Donald Trump, contributed to what he described as a “historic decision” to lift the sanctions.

“I believe Syria was born again after the sanctions were lifted and the road ahead was opened. In other words, the restrictions were broken,” he said.

“What remains now is to adopt the right policies and procedures and make sound choices,” he added.

Sharaa said Syria is transitioning from an economic system resembling a socialist model, characterized by bureaucracy and corruption, toward a more liberal economy supporting the private sector, acknowledging that the shift could initially require difficult decisions.

He said the Syrian economy stood at around $60 billion in 2010 before falling to roughly $20 billion by 2024, then growing to $32 billion in 2025. It could reach $50 billion this year and return to its 2010 level by 2027, he added.

“Our programs aim to bring the economy to around $200 billion over the following five to 10 years,” he said, provided international conditions remain stable.

Sharaa said investors from the UAE, Saudi Arabia, Qatar and Kuwait are among those moving into Syria, with several memorandums of understanding signed and some projects already under implementation.

He also cited planned investments involving Emirati businessman Mohamed Alabbar and DP World’s investment in the Port of Tartus on Syria’s Mediterranean coast.

Sharaa said Syria’s geographical position could make it an important part of alternative trade, energy and supply routes linking East and West.

He also described Syria as a potential regional food basket, saying it could produce enough food for 70 million to 75 million people without advanced agricultural technologies and more than 100 million with modern technology.

Sharaa stressed the independence of Syrian decision-making, saying Damascus does not intend to become subordinate to any outside power.

“Syria does not necessarily need to be aligned with any particular side. Syria follows its own interests,” he said, while stressing the importance of Syria’s Arab and Islamic surroundings.

He said Syria wants to benefit from successful Arab experiences in economic and institutional development rather than starting “from zero.”

Sharaa cited the operation that eventually led to the capture of Damascus as evidence of independent Syrian decision-making.

“When we made the decision to liberate Damascus, we were on our own,” he said.

“Our decision was entirely our own — distinctly Syrian — and we relied on ourselves in every respect,” he added.

Bashar al-Assad, who ruled Syria for nearly 25 years, fled to Russia on Dec. 8, 2024, ending the Baath Party’s decades-long rule that began in 1963. A transitional administration led by Sharaa was formed in January 2025.

Sharaa warned that Syria’s recovery could be affected by expanding wars and instability elsewhere in the Middle East.

“What concerns us most is the possibility that the wars could expand further and create broader instability across the region,” he said.

Damascus is working with Arab countries to reduce the impact of regional conflicts and mitigate future risks, he said, adding that Syria has a “pivotal role” to play.

“Syria’s stability today does not benefit Syria alone; it benefits the entire region. It is a shared interest for everyone,” he said.

Sharaa said Syria is also rebuilding state institutions and public trust following decades of poor governance and years of war, while dealing with damaged infrastructure, energy shortages, economic difficulties and risks of internal division.

He said his vision is for Syria to become a “normal country” with strong economic growth while protecting the dignity and independence of its citizens.

“Our greatest asset is society itself,” he said.

“Our policy is one of continuous and serious work,” he added, saying the government would “work day and night” to serve Syrians.

Turning to the media, Sharaa described journalism as a serious public trust and urged media professionals to prioritize credibility and reliable information and avoid politicization.

“People’s minds are, in a sense, entrusted to journalists,” he said, noting their influence over public opinion during periods of crisis and uncertainty.

“How can people be expected to remain patient with something they do not fully understand?” he asked, stressing the need to provide societies with accurate information.

“I believe this is, above all, the mission of journalists as messengers: to convey the facts to people as they are,” he said.

The Arab Media Summit 2026 is being held at the Dubai World Trade Centre, bringing together media leaders, policymakers and industry figures to discuss developments and challenges shaping the Arab media landscape. Sharaa participated as a keynote speaker.