Damascus, June 14 (SANA)Syria’s Finance MinisterMohammed Yisr Barniehannounced Sunday that 21 official contracts had been signed at the BUILDEX 24 international construction fair, with additional contracts yet to be disclosed.

Barnieh said new companies are entering the Syrian market and some importers are shifting to establishing local factories, reflecting growing confidence in the national economy.

Speaking at a press conference after visiting the fair, Barnieh said participation this year saw a qualitative leap with more than 1,400 brands from over 50 countries, evidence of increasing interest in theSyrian market.

The minister described the fair as “one of the most prominent signs of economic recovery in Syria,” reflecting the country’s entry into a new phase of reconstruction and sustainable development.

He pointed to Syria’s attractive investment environment, including unprecedented tax advantages and incentives, making it “a safe haven for investment” across various sectors.

New tax system to be ‘simplest, best’ in region

Barnieh revealed that Syria’s upcoming tax system will be “the simplest, best and lowest in rates compared to regional countries,” aimed at supporting low-income groups and encouraging production and exports.

Current fiscal policy prioritizes supporting the private sector without crowding it out, providing real growth opportunities, he said, calling on investors, industrialists and merchants to seize promising opportunities in Syria.

Ghassan Sakr, deputy head of theDamascus Chamber of Commerce, said the participation of Arab and foreign companies at the fair confirms growing confidence in the Syrian market.

TheBUILDEXinternational construction fair, which concludes Sunday, opened last Wednesday with wide participation from 710 companies and 1,400 brands from 51 countries, including direct participation from 20 countries.