Emirati Magnate Khalaf Al-Habtoor Plans To Invest In War-Torn Syria

Emirati business magnate Khalaf al-Habtoor, chairman of the Al Habtoor Group, announced plans on Tuesday to invest in Syria's reconstruction, focusing on car dealerships and a nationwide bus network. Leading an Emirati business delegation on a tour of potential sites in Damascus and the coastal region, al-Habtoor emphasised initiatives that could create sustainable jobs and economic opportunities. He specifically outlined a project to operate up to 3,000 buses in partnership with the Syrian government, which he said could generate approximately 30,000 jobs, alongside large car showrooms to employ young Syrians.

The investments aim to address Syria's struggling economy by prioritising projects that provide long-term benefits, according to al-Habtoor, who stressed a focus on serving people rather than short-term gains. During the visit, the delegation assessed various sites to identify viable opportunities, aligning with Al Habtoor's vision of fostering employment and infrastructure development in a country still reeling from nearly 14 years of civil war. This move builds on his group's expertise in diverse sectors, including automotive and transportation, to support post-conflict recovery.

Since the ousting of former President Bashar Assad in a rebel offensive last December, Gulf countries have shown growing interest in Syria's rebuilding efforts, with Saudi Arabia announcing 47 investment agreements worth over $6 billion in July. However, progress on the ground remains hampered by challenges such as frequent water and electricity shortages, affecting about half the population with food insecurity. Experts estimate reconstruction costs could reach $400 billion, highlighting the scale of the task amid ongoing instability.

Also Read: Gujarat Assembly Passes Jan Vishwas Bill To Decriminalise Minor Offences

Al-Habtoor's announcement signals potential private-sector momentum in Syria's economic revival, though experts caution that successful implementation will depend on improved security and infrastructure. As international investors eye opportunities, this development could encourage further foreign capital, but it underscores the delicate balance between economic aspirations and the country's persistent humanitarian needs.

Also Read: India Voices Concern Over Israeli Airstrikes in Doha