Syrian President Ahmad al-Sharaa has designated Egyptian companies as “priority partners” in a massive national reconstruction project valued at approximately $216 billion.
During the Syrian-Egyptian Economic Forum held in Damascus on January 12, 2026, the President highlighted that Egypt’s recent success in modernizing its own infrastructure and energy sectors under the leadership of President Abdel Fattah Al-Sisi makes its private sector an ideal model for Syria’s recovery. This high-level summit brought together 26 heads of Egyptian chambers of commerce and prominent financial leaders to forge new alliances between Damascus and Cairo, with a broader goal of integrating Syrian exports into African and European markets.
The collaborative strategy focuses on a gradual withdrawal of the state from market activities to allow the private sector to drive economic growth and modernization. President al-Sharaa identified several key areas for immediate cooperation, ranging from the rehabilitation of port infrastructure and the oil sector to gas exploration in the Mediterranean. Furthermore, the partnership aims to develop critical rail and fiber optic networks that would link Europe to China through Syrian territory, while also establishing a regional food security system in tandem with Iraq. These initiatives are viewed as vital steps toward restoring stability after more than a decade of conflict and underinvestment.
To formalize this cooperation, Ahmed El-Wakil, president of the Federation of Egyptian Chambers of Commerce (FEDCOC), oversaw the signing of two major memoranda of understanding. These agreements, which also involve the Union of African Chambers of Commerce, are designed to facilitate the transfer of Egyptian technical expertise and the creation of operational partnerships across various industries, including steel and factory rehabilitation. While the World Bank reports only limited signs of stabilization in the Syrian economy due to persistent inflation, the Syrian leadership remains optimistic that the lifting of sanctions and increased private investment from regional allies like Egypt will provide the necessary momentum for a sustainable recovery.
MK/Sf/fss/abj/APA