THE new rulers of Syria declare the country open for privatisation and foreign investment.

In an interview with the Financial Times published today, the country’s foreign minister, Assad al-Shaibani, said his country was prioritising “economic development.”

Speaking from the Syrian capital Damascus, he said: “There needs to be law and there needs to be clear messages to open the way for foreign investors, and to encourage Syrian investors to return to Syria.”

Mr Shaibani was due to speak at the World Economic Forum in Davos, the first time Syria has participated at the event, where he was set to make clear his country was willing to privatise large swathes of the economy, including the oil industry.

He told the Financial Times that Syria’s new rulers also wanted to explore more private investment in airports, railways and road building.

The foreign minister said: “We don’t want to live off humanitarian aid, nor do we want countries to give us money as if they are throwing the investment in the sea.”

Mr Shaibani praised the easing of United States and European sanctions on the new regime led by Abu Mohammed al-Jolani, the leader of the Hayat Tahrir al-Sham group, a former al-Qaida affiliate. 

Many Western governments have continued to classify the group as terrorist and along with the US and the European Union have maintained sanctions on Syria.