In a recent interview with the “Kalam Business” program on CNN Economic, Emirati businessman Khalaf Al-Habtoor expressed his readiness to seriously consider investment opportunities in both Syria and Jordan. Al-Habtoor underscored his motivations and aspirations for each country, drawing on his past experiences and his confidence in Syria’s potential to recover from crises. His insights offer a nuanced perspective on the emerging investment landscapes in these two regions.
Al-Habtoor spoke positively about Jordan, revealing his plans to visit the country this summer. He has previously undertaken projects there as a contractor and noted that he received substantial support from the government. “I worked there, and they were a hundred percent supportive of the Arab investor. I met His Majesty King Abdullah, a noble and respected man,” he mentioned, highlighting the collaboration he experienced.
Al-Habtoor pointed out that the Jordanian government and the people showed significant cooperation and friendliness, saying, “Everyone is kind, respectful, and supportive; they welcome you at any time.” Jordan has consistently sought to improve its investment climate, despite limited resources. The country boasts relatively flexible investment laws and offers incentives to foreign investors in various sectors, including tourism, technology, and energy.
In contrast, Al-Habtoor offered a more sympathetic view on Syria, indicating that he does not plan to visit in the “near future.” He stated, “The Syrians are open; they said, ‘Welcome at any time, Syria is your country.'” However, Al-Habtoor emphasized that any decision to visit depends on domestic stability. “First and foremost, I want them to have security and solidarity among themselves, and this is the top priority. This young government is working in unimaginable ways,” he noted, commending the government’s efforts while acknowledging the existing challenges.
Al-Habtoor expressed optimism about the future: “We have received several invitations from Syria, and God willing, we will visit and greet them.” He further indicated a desire to explore simpler projects rather than massive investments, stating, “We don’t want to build huge hotels that cost billions; we want to start with something simple.” This approach reflects a more cautious and thoughtful strategy aimed at fostering sustainable growth.
Despite being in a critical phase following over a decade of conflict, Syria’s government aims to attract Arab investments, particularly in reconstruction, energy, and tourism sectors. Although several incentive laws have been enacted, the investment climate is still evolving. Nonetheless, there is nascent interest from various Arab entrepreneurs eager to contribute to revitalizing the investment environment, anticipating more significant international engagement.
When asked about the types of projects he plans to pursue, Al-Habtoor clarified, “I don’t stray from my work; my work is in cars, insurance, and hotels.” This suggests that his potential investments in Jordan or Syria will likely focus on these sectors, aligning with his extensive knowledge and experience in both the Gulf and global markets.