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Syria moves assets of ex-regime allies to $50B fund

Syria moves assets of ex-regime allies to $50B fund

The Financial Times reported that the Syrian government has transferred assets close to the former regime to a secret state-owned fund valued at approximately $50 billion, aiming to reshape the declining economy and attract foreign investment. The fund, established last year and headed by the Minister of Tourism, controls an extensive network of assets including real estate, companies, and land parcels, and serves as a key driver in controlling sectors of the Syrian economy, wielding significant influence over investment policies. The fund is working on improving governance and attracting foreign investments, having signed billion-dollar agreements with international companies. It is considered one of the government's tools for reinvesting wealth and achieving economic growth.

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