Ongoing Unrest Threatening Economy [Syria]
Author: Mona Alami, IPS News, Published on: 30 June 2011
International companies have been flocking out of Syria due to the internal conflict. The Qatari Diar real estate company put an end to two projects...Another Qatari firm, Qatar Electricity and Water Company, has delayed building two power plants in Syria - a 900 million dollar project. In addition, a 500 million dollar project planned by Emaar Properties, and another by the Gulf Majid Al-Futtaim Group have also been put on hold...The new sanctions imposed on various members of the regime are also making people wary, an analyst here told IPS on condition of anonymity. "This will certainly affect the level of Foreign Direct Investment (FDI) into the country," he explained…As long as oil operations continue to be unaffected by the unrest and are not targeted by sanctions, the government can still keep the economy on its feet, according to some analysts.