Davos-Syria’s economy will be open for foreign investment, foreign minister says

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DAVOS, Switzerland (Reuters) – Syrian Foreign Minister Asaad Hassan al-Shibani said on Wednesday that the country will open its economy to foreign investment and that Damascus is also working on energy and electricity partnerships with Gulf states.

“Syria’s economic resources are diverse and we have a lot of sectors – industry, tourism… of course the economy in the future will be open and will open the road for foreign investment,” he said at the World Economic Forum meeting in Davos, Switzerland.

Shibani paid separate visits to Saudi Arabia, the United Arab Emirates and Qatar in early January, during which he discussed bolstering ties.

Qatar has pledged to initially supply Syria with 200 megawatts of electricity and gradually increase the amount, the Gulf country’s prime minister said during a recent visit to Damascus.

At Davos, Shibani said a committee of representatives from various groups would work on the country’s new constitution after holding a national dialogue, which Syria’s leadership says will include all segments of society to chart a path for the nation after Islamist rebels ousted President Bashar al-Assad.

“We need an inclusive transition leading to a new constitution, free and fair elections, in a Syrian-led and Syrian-owned political process that will restore Syria’s sovereignty and territorial integrity,” UN Syria envoy Geir Pedersen said at a separate press conference in Damascus on Wednesday.

Both Pedersen and Shibani reiterated calls for ending the international sanctions imposed on Syria.

(Reporting by Samia Nakhoul and Marwa Rashad in Davos and Maya Gebeily in Beirut, writing by Jaidaa Taha; Editing by Elaine Hardcastle, Kirsten Donovan)