Damascus: The US announced that over 18,000 companies have registered in Damascus and 1.5 million refugees have returned to Syria since Washington lifted sanctions on the country a year ago. The US Embassy in Syria shared this development through a statement on the social media platform X, highlighting the impact of the lifted sanctions on Syria's economic recovery and refugee return.
According to Anadolu Agency, the US Embassy emphasized the decision to lift sanctions as an opportunity for Syria to achieve greatness, opening avenues for investment. The embassy reported that billions of dollars in investment have been pledged, alongside the registration of over 18,000 companies in Damascus and the return of 1.5 million refugees.
The embassy introduced 'comprehensive Syria Investor Guides,' described as detailed market intelligence reports for Syria. These guides signify American confidence in Syria as a potential destination for responsible investment, enterprise, and integration.
Investment opportunities in Syria are identified across sectors such as electricity, oil and gas, technology, telecommunications, real estate, and banking. The embassy noted that American companies, with their technological leadership and expertise, are well-positioned to fill critical gaps in Syria's infrastructure and economy.
The guides aim to connect Syria with trusted and transparent economic partnerships that promote long-term prosperity and stability. The US Embassy underscored the importance of smart governance, regional cooperation, and responsible investment to transform these opportunities into reality.
The lifting of sanctions was marked by the issuance of a general license by the US on May 23 of the previous year, as per the Treasury Department. Secretary of the Treasury Scott Bessent expressed hope that these actions would guide Syria towards a stable and prosperous future.
The US decision to lift sanctions came after years of restrictive measures against the former Syrian regime. Assad, who led Syria for nearly 25 years, fled to Russia following the takeover of Damascus by anti-regime groups in December 2024, leading to the end of the Baath Party's long-standing rule.
A transitional administration headed by Ahmad al-Sharaa was established in January 2025, aiming for broader international engagement and enhanced cooperation with international and humanitarian organizations.