European investments set to enter Syrian market
Shafaq News – Damascus
Syria is witnessing an accelerated economic activity, signaling a new phase of international engagement and cooperation, Michael Ohnmacht, head of the European Union mission in Syria, told Shafaq News on Saturday.
Ohnmacht pointed to a clear economic upturn, noting the wide participation by Arab and European companies in exhibitions and events across the country—a sign of growing confidence in Syria’s future.
He also welcomed the renewed cooperation after 14 years of limited engagement, projecting that new European investments and companies will enter the vast Syrian market.
"The contours of the recovery are expected to become more visible early next year," he added, referring to a series of joint projects coordinated through the Syrian Foreign Ministry, covering education, health, and humanitarian programs.
His remarks followed last week's Syrian Civil Society Dialogue Day forum, during which Syria's Foreign Minister Asaad al-Shibani recognized the European Union as a key partner, hailing the Union’s long-standing initiatives that have "remained active even throughout the country’s most difficult years."
While precise investment figures remain difficult to establish, a 2024 report by the European Commission indicated that the Union has provided over €38 billion since 2011 to support Syrian civil society groups. An additional €2.5 billion allocated for reconstruction-related efforts was also committed by EU foreign policy chief Kaja Kallas.
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