Damascus International Fair: Commercial Arbitration Boosts Confidence
Participants at the 63rd Damascus International Fair have highlighted the growing importance of the investment climate in Syria, emphasizing that strengthened legal frameworks—particularly the activation and development of commercial arbitration tools—are essential for attracting investors. Attendees noted that a clear legal framework guarantees the rights of all parties involved in investment processes, providing flexible and reliable mechanisms for dispute resolution that directly foster trust among both local and international investors.
Ibrahim Al-Banna, sales and marketing manager at the Saudi company Sarco, stated that commercial arbitration is a strategic step that provides the necessary security for investors to make expansion decisions. He affirmed that these legal guarantees offer a competitive advantage to the Syrian market, encouraging Saudi companies to increase their presence and introduce their products.
Rayyan Al-Hamid, a business development engineer at the Saudi firm Qima, pointed to the return of security and stability in Syria as a key factor in strengthening Saudi-Syrian economic relations. He stressed that the commercial arbitration system serves as a powerful incentive for Saudi companies to contribute to construction and development projects, noting that his firm views the Syrian market as large, promising, and worthy of expansion.
Khaled Nasr Al-Hassan, agent for the German company Dot Power Pro in Syria, highlighted that the recent openness in regulations governing corporate operations, including those regulating relationships between investors, serves as a significant encouragement for international firms. He explained that an effective arbitration law encourages his company to increase its investment volume and engage more deeply with the local market.
These statements come amid active government efforts to develop the economic legislative environment. On May 5, the Ministry of Justice issued a decision aimed at regulating the procedures of arbitration centers in Syria. This move is designed to ensure adherence to international professional and legal standards and to provide effective alternatives to traditional litigation for resolving commercial disputes.
Today, arbitration serves as a fundamental pillar for nations undergoing economic restructuring, contributing to a stable and investment-friendly environment. Arbitration centers in Syria are working to fulfill their role as tools for enhancing mutual trust between investors and local entities. These efforts align with the state’s focus on revitalizing trade and investment activities, as the 63rd Damascus International Fair draws to a close following extensive participation from major Arab and international companies.
