Syria’s US terror delisting opens door to foreign investment

The United States' delisting of Syria from its list of state sponsors of terrorism has opened significant opportunities for foreign investment, particularly in the financial, technology, and telecom sectors. This move follows President Donald Trump's notification to Congress in July of his intention to rescind Syria's designation as a state sponsor of terrorism.

The delisting, which came into effect on Monday, removes one of the primary obstacles to investment, paving the way for greater access to international banking, technology, and capital. Syria's economy, which has been war-torn, is now on a path to recovery, with sectors such as banking, technology, and telecoms expected to benefit the most from this decision.

The delisting also eases international payments, as Syrian banks seek relationships with correspondent lenders and regain access to the worldwide banking system. However, the country remains on the Financial Action Task Force's grey list for money laundering and terrorist financing. Despite this, the removal of Syria from the US terror list is seen as a significant step towards its gradual return to the global financial and banking system.

Several Gulf states and companies, including DP World, are investing in Syria, with DP World launching operations at the Tartus port and Saudi Arabia committing $18 billion to various projects in the country.