The National: Syria attracted $16B in investments after overthrow of Assad regime

Syria has attracted nearly $16 billion in investment and international aid in the six months since the overthrow of former President Bashar al-Assad, according to UAE newspaper The National, according to Report.

The largest investor was the Qatari company UCC Holding, which will spend $7 billion on the construction of four gas power plants and one solar power plant with a capacity of 1 GW in Syria. The United Nations Development Programme has drawn up a three-year, $1.3 billion plan to rebuild infrastructure, launch a social safety net and support digital start-ups. European donors pledged $6.5 billion for reconstruction following a conference in Brussels in March.

In May, UAE logistics operator DP World and the new Syrian government signed an $800 million memorandum of understanding to develop, manage and operate a multi-functional terminal at the port of Tartus. That followed a 30-year, $260 million concession agreement with French shipping company CMA CGM to operate the port of Latakia.

The World Bank estimates Syria's needs for economic recovery at $400 billion. At the same time, the Minister of Economy in the transitional government of the republic, Nidal al-Shaar, believes that the rebuilding costs might reach as high as $1 trillion.