Damascus Stock Exchange Reopens After Six-Month Closure as Syria Eyes Economic Rebirth
The relaunch coincides with the gradual lifting of international sanctions previously imposed during Assad’s rule, and last week's signing of a $7 billion power deal with a multinational consortium from Qatar, Turkey, and the United States.
ERBIL (Kurdistan24) — The Damascus Securities Exchange reopened on Monday following a six-month suspension, marking a symbolic step in Syria's efforts to revive its war-torn economy under a new leadership, according to Agence France-Presse (AFP).
The reopening comes after nearly 14 years of civil war and follows the ouster of longtime President Bashar al-Assad in a swift rebel offensive earlier this year. The stock exchange had shut down amid the turmoil that preceded Assad’s fall.
Syria’s new Finance Minister, Mohammed Yisr Barnieh, attended the relaunch and emphasized the exchange's role in economic recovery. “This signals a turning point in Syria’s economic trajectory,” Barnieh said, according to the state-run SANA news agency. “The exchange will now operate as a private company and serve as a genuine hub for Syria’s economic development, with a strong focus on digital transformation.”
The relaunch coincides with the gradual lifting of international sanctions previously imposed during Assad’s rule. In a notable shift, both the United States and the European Union last month lifted a significant portion of economic restrictions, potentially unlocking billions in investments.
In a sign of renewed global engagement, Syria last week signed a $7 billion power deal with a multinational consortium from Qatar, Turkey, and the United States. The agreement aims to rehabilitate the country’s devastated energy infrastructure with a 5,000-megawatt project that includes four combined-cycle gas turbines and a solar power plant.
The consortium includes Qatar’s UCC Concession Investments, Power International USA, and Turkish firms Kalyon GES Enerji Yatirimlari and Cengiz Enerji. Once operational, the energy initiative is expected to restore electricity access to millions and support the broader rebuilding of Syria’s industrial base.
While challenges remain—including widespread poverty, infrastructure destruction, and political uncertainty—the reopening of the stock exchange is seen by many as a hopeful step toward normalization and economic recovery.
“We are opening the doors to promising investment opportunities,” Barnieh said, underscoring the government's intent to attract private capital and revive domestic and international investor confidence.
