BEMO Bank opens the Syrian economy file: Toward Lebanese partnerships in a period of transition

BEMO Bank organized a panel discussion titled "Business Opportunities in Syria" at the campus of the Ecole Supérieure des Affaires (ESA), bringing together a select group of Lebanese and Syrian business leaders, experts and bankers to examine investment prospects and the potential for economic cooperation between the two countries.

The seminar focused on the opportunities created by Syria’s economic opening, amid estimates that the reconstruction phase will require massive investments that could reach around $216 billion, opening the door for the Lebanese private sector to participate in promising projects across a number of vital sectors.

Opening the event, BEMO Bank Chairman Dr. Riyad Abji said Syria represents one of the region’s most prominent emerging economic opportunities, noting that its geographic and historical proximity makes it a natural extension of the Lebanese economy. He called on investors to build direct relationships and engage in the Syrian market on the basis of professional standards and long-term partnerships.

For her part, Syrian-Lebanese Business Council Chairwoman Dr. Leila Al-Samman reviewed the course of economic relations between the two countries, pointing to the importance of activating trade and investment cooperation. She also addressed the most significant reforms in Syria’s new investment law and the incentives offered to investors, ranging from customs and tax exemptions to facilities related to money transfers and property rights.

Meanwhile, BEMO Bank’s Head of Corporate Banking Services, Antoine Maskaoui, highlighted the economic fundamentals that make Syria an attractive investment market, citing its strategic location and the importance of the oil and gas, agriculture and infrastructure sectors, in addition to the expected role of Syrian capital and expertise abroad in supporting the recovery and reconstruction phase.

He explained that international estimates indicate that Syria’s reconstruction needs are centered primarily on infrastructure and urban development, amid growing regional and international interest in the economic opportunities available.

Nadia Saliba, Deputy General Manager of Bemo Saudi Fransi Bank – Syria, reviewed the role of the banking sector in supporting investors, stressing the importance of digital services, facilitating financial procedures and linking companies with relevant institutions and authorities.

Youssef Al-Hakim, managing partner at Al-Hakim Law Office, also addressed the legal aspects investors should take into account when entering the Syrian market, including corporate legal structures, contracts and partnerships.

The seminar concluded with a discussion session on mechanisms for financial transfers, the future of reconstruction and the role of the private sector. Participants agreed that the coming phase could represent an important economic opportunity for Lebanese companies, provided a carefully considered approach based on partnership and sustainability is adopted.

At the close of the meeting, BEMO Bank reaffirmed its commitment to supporting economic dialogue and strengthening bridges of cooperation between the Lebanese and Syrian private sectors, based on its belief that economic integration constitutes one of the main paths to recovery and development.