Syria pledges efforts to attract foreign investment: finance minister

Syria is rolling out various measures to attract foreign investment following the U.S. and European Union's announcement that economic sanctions would be lifted on the country, according to Mohammad Yasser Barniyah, Syrian Finance Minister.

Barniyah made the remarks on the sidelines of the Islamic Development Bank's annual meeting, held in Algeria from May 19 to 22. The meeting brought together leaders from the 57-member Organization of Islamic Cooperation to discuss economic collaboration.

His attendance marks Syria's first significant international engagement since the Western countries announced to lift the sanctions. Barniyah hopes that the world will soon recognize the potential that the post-sanctions Syrian economy has to offer.

"There is a great appetite we've seen to invest in Syria. There are great opportunities in all sectors, energy, agriculture, infrastructure, housing, tourism, healthcare, education, almost all sectors. Syria is rich of opportunities now. Of course, lifting the sanctions created a sort of optimism, and that is a precondition for attracting investment. What we are trying to do now is trying to transfer this optimism into reality by creating the right infrastructure, the right regulation and the right ecosystem that welcomes investors," he said.

The finance minister also emphasized that Syria welcomes foreign investment in multiple sectors and is open to work with all international partners.

"If you ask about urgent needs, I will tell you the energy sector, transportation, agriculture, healthcare, education -- all are important sectors. Perhaps energy and infrastructure are very important. Nowadays we need large investments to cater for such projects. I cannot exclude any sectors. There are needs in almost every single sector," said Barniyah.

"We welcome all investors from all over the world, and we make sure they have the protection, and they have the requirement to support their investment. So Syria is opening up. Syrian is welcoming all investors from all over the world and we encourage everybody to explore the opportunity to come to Syria. And we also welcome Asian investors," he said.

Syria pledges efforts to attract foreign investment: finance minister

Thousands of Lebanese displaced by Israeli attacks have been stranded in public shelters with harsh living conditions, with the Lebanese government worrying that it will be unable to shelter such a huge number of evacuees as the conflict continues.

Lebanese health authorities report on Friday that 217 people have been killed since Israel's expanded attacks on Monday, with other 798 being injured. More than 95,000 people have been displaced.

Lebanese Prime Minister Nawaf Salam on Friday warned of unprecedented humanitarian consequences. The UN human rights office has condemned Israel's ground incursions, displacement orders, and continued airstrikes across Lebanon.

A public building in Beirut that has opened its doors to receive Lebanese people fleeing the fighting in southern Lebanon, and Beirut's southern district is accommodating about 3,000 people of 500 families.

They all arrived in the same brief time period, creating shock for a government that doesn't have enough supplies, in part because the U.S.-Israel war on Iran is locking down the entire region, so Lebanese people don't have any other place to go, stranded with no food or money and with very little time to evacuate from their homes.

There is almost no privacy at the shelter, with men and women all sleeping together on the floor or on the tiles, without a bed sheet or a pillow in the winter.

Saida, a city to the south of Beirut, is one of the main cities to which displaced people have run. Suspending education, the city has opened all its schools to receive scores of displaced citizens, with numbers far exceeding those in Beirut.

The Lebanese government is worried that an extended conflict will result in more displaced people than the government can handle.

Meanwhile, casualties have been rising since the Israeli military launched a new wave of attacks against targets of Lebanon's Hezbollah group on Monday. This week's escalating conflict comes after Israel and the United States launched joint military actions against Iran on Feb 28.

Evacuees in Lebanon stranded as displacements soar