Syria plans to launch tourism projects with $ 8 billion investments

The Syrian Ministry of Tourism has signed a memorandum of understanding with the Syrian International Holding Company “SIDH” and the International Insurance Company “IDH”, which is affiliated with the Infurter Group, as part of the ministry’s plan to launch major development and tourism projects in Syria.

The memorandum, which was signed, aims to revive the Syrian economy by implementing two huge projects to develop cities, at a total cost of 8 billion dollars, namely the “Damascus Gate” project, and the “Levant Gate Gate”, in addition to implementing road rehabilitation and infrastructure projects in several regions.

Faraj Al -Qashqosh, the assistant minister of tourism and quality of hotel affairs, said that the importance of signing this memorandum between the ministry and the investment company lies in opening new investment doors, and the recovery of the investment market in Syria, including the development of cadres and tourism facilities, the rehabilitation of infrastructure and the attracting investors, according to the Syrian News Agency “SANA”.

He pointed out that there are more agreements that will be signed to return the wheel of the economy and investment again, and support the tourism market with new companies and the expert operating worldwide.

The administration of the Syrian International Insurance Holding Company said that the two companies will take over the management of these projects and provide partnerships and facilities, for international investors and sovereign wealth funds, and for founding investors and multilateral agencies and development banks, investment and commercial banks, through partnerships, joint projects and investments with members of the Corporate Coalition for the Infitcher Group.

The Infurter Group is a multi -activities investment group founded in 1969, which is specialized in building, developing and operating cities, ports, free zones, special economic areas, industrial and logistical areas in the Middle East and Africa.