Helping Syria Grow: How Business Owners and Farmers Are Bringing Change
After many years of conflict and being cut off from the world economy, Syria is now starting to change in a big way. The recent easing of US Treasury sanctions is helping the economy recover, and farmers and business owners are leading this comeback.
Sanctions Eased
The U.S. Treasury’s General License 25 now allows some activities in Syria that were previously banned. These include financial services, oil trade, and working with Syria’s new government.
This decision supports former President Donald Trump’s promise to lift all sanctions. Treasury Secretary Scott Bessent said Syria has the potential to become stable and successful. The U.S. State Department also gave a waiver to help Syria build stronger ties with Gulf countries and Türkiye, aiming to boost Syria’s economy.
Syria’s economy shrank by half between 2010 and 2021. The World Bank estimates it will cost $250–400 billion to rebuild. Over 90% of Syrians live in poverty. Although the Syrian pound has recently strengthened, it’s still far from its pre-war value. Still, the easing of sanctions brings hope for improvement.
Reviving Farming
Syria’s farming sector is in trouble. The UN’s Food and Agriculture Organization (FAO) warns that a major drought this year could destroy up to 75% of the wheat crop, affecting millions of people.
Rainfall in early 2025 was the lowest since 1997. However, lifting sanctions could bring in money to improve farming. FAO’s Syria representative, Toni Ettel, said this could help bring in better irrigation systems and build stronger infrastructure.
Syria’s Agriculture Ministry agreed. It said that while removing sanctions won’t end the drought, it will give farmers tools to manage it better, improve crop yields, and make the food supply more secure.
Young Entrepreneurs Driving Growth
Syria’s young people are helping rebuild the economy. More than 200 startups have launched in fields like finance tech, education tech, and online business. Public support for startups has grown from 26% in 2015 to over 80% in 2024. Female entrepreneurs now make up 35%.
One example is Mohamed Bassel Almadani, who started Entrepioneers 2030 to help young Syrians find new business chances. He believes lifted sanctions will let startups access global tools, investments, and mentoring in areas like green tech, digital services, and farming.
Another business expert, Muhannad A. Hammadeh, says artificial intelligence is a big chance for Syrians. He believes smart government rules and strong support systems are needed to help tech businesses grow.
Other Areas of Investment
Energy is attracting the most interest, but other areas like infrastructure, farming, and tourism are also gaining attention. Syrians living abroad are playing a key role.
Finance Minister Yisr Barnieh said Syria has big opportunities in many sectors—from oil to transport.
Germany has already helped improve infrastructure through its bank KfW and helped set up the Syria Recovery Trust Fund. France’s CMA CGM shipping company signed a long-term deal to improve and manage the Latakia port.
The U.S. and EU haven’t yet announced any major investment plans, but the International Monetary Fund (IMF) is open to supporting Syria’s rebuilding.
Some private investors are preparing to enter the market. Ziad Ghaloul, a Syrian businessman in Dubai, said his company is planning a strong and careful move into Syria to help with development.
One major city to be rebuilt is Aleppo. Before the war, it contributed 24% to Syria’s economy. President Ahmed Al-Sharaa recently said Aleppo will become a leading economic center again.
Published: 11th June 2025
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