Author Archives: Stephen Rosenlund

The Role of the Private Sector in Syria’s Future

syria-event

In a previous blog post, I presented some of the harsh economic realities of today’s Syria and highlighted the work that the Syrian Economic Forum (SEF) is doing to create a better future. On April 18, CIPE hosted a panel discussion on the “Role of the Private Sector in Syria’s Future” at its Washington headquarters to explore the challenges of reconstructing and rehabilitating the country and the solutions the business community is uniquely placed to provide.

The event featured Ayman Tabbaa, Chairman of the Syrian Economic Forum (SEF); Dr. Samer Abboud, Assistant Professor of History and International Studies at Arcadia University; and Faysal Itani, Fellow at the Rafik Hariri Center for the Middle East at the Atlantic Council. CIPE Regional Director for the Middle East and North Africa Abdulwahab Alkebsi moderated the discussion.

Ayman Tabbaa, a businessman himself, emphasized that Syria’s economic woes are a product not only of the ongoing war which has ravaged the country over the last two years, but of failed social market policies over the last decade. Future economic policies must be grounded in the rule of law and encourage the growth of small and medium sized enterprises in order to bring prosperity to the country.

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A Bright Light on Syria’s Horizons

SEF

Since 2011, CIPE has been working with a courageous group of Syrian business people to advance an economic vision for the future of their country. With CIPE’s support, these private sector leaders established a think tank in 2012 called the Syrian Economic Forum (SEF), which is helping formulate the economic policies for the country’s future.

Few countries in the world have as great a need for CIPE’s assistance as Syria. For the past two years, Syria has been wracked by civil war. Tragically, 70,000 people have lost their lives to the violence. The economy has imploded, contracting by 7.8% in 2012 and estimated to contract by another 3.4% this year.  Inflation is spectacular, with the Syrian pound’s value against the U.S. dollar falling by half since before the war began.  Bank profits fell by anywhere from 40 to 95 percent last year alone.

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