Syria’s Company Registrations Are Changing—But Not Transforming the Economy
Since 8 December 2024:
• 97 new companies have been announced in the Gazette; all Limited Liability Companies (LLCs)
• Roughly 80% list import-export among their business activities
• Industrial and agricultural firms remain nearly absent
This suggests Syria’s new economy continues to be driven by low-capital, fast-turnover commercial ventures, not substantial domestic production.
About 90% of the new companies are fully Syrian-owned. Roughly 10% include at least one foreign shareholder. Six are entirely foreign-owned, though registered as “Syrian entities.”
Notably, one Turkish company has established a branch in Syria, the first to do so since 2011.
Could this mark the beginning of a gradual post-Assad reopening to international investors, laying the groundwork for deeper economic engagement despite lingering challenges?