"Turkish companies' ambition to rebuild Syria: Promising Opportunities and Potential Challenges"

Syria is undergoing a radical transformation with the fall of Bashar al-Assad's regime, opening the door to a new phase that requires intensive efforts to rebuild the country and restore what the war has destroyed. This process is not only a humanitarian necessity but also a huge economic opportunity, as Syria becomes an open field for investments in reconstruction and infrastructure.

Opportunities for Turkish companies

Turkey, with its geographical proximity and deep expertise in the construction sector, appears to be the most qualified to benefit from the reconstruction process in Syria. The Financial Times report suggests that Turkey, led by President Recep Tayyip Erdogan, may become the biggest beneficiary of the reconstruction, especially thanks to its relations with the Syrian opposition and its prominent political role in the new phase.

Projections indicate that the share of Turkish projects could reach $40 billion in the first five years, with the potential for this figure to rise to $100 billion in the long term. This figure reflects not only Turkey's economic potential but also the importance of restoring commercial activity along the border between the two countries.

Reasons for Turkish optimism

“Turkey's chances of playing a major role in the reconstruction of Syria are very strong, because it is considered a key and pivotal player in the Syrian scene at the economic, security and political levels,” economist Mohammed Fahili told Al-Nahar. It is natural for Turkey to demand a role in the reconstruction, just as the United States demanded a role in the reconstruction of Iraq, and just as Iran sees itself as a key player in Lebanon. Therefore, it is obvious that Turkey should have a role in this field, especially given the extent of the destruction in Syria and the large size of the country.”

Turkey may be optimistic about securing its share of the reconstruction for several reasons, most notably geographical proximity, thanks to common borders that facilitate the transportation of materials and equipment. In addition to the reputation of Turkish companies for quality and speed of execution, as well as political support, linked to Turkey's influence in northern Syria and its relations with the opposition. The labor force also plays a key role, as Turkish labor is available at competitive costs.

Turkish construction and cement stocks have been on the rise, driven by expectations that they will benefit from Syria's reconstruction. Turkish Foreign Minister Hakan Fidan said on Monday that Turkey will work for the safe repatriation of Syrian refugees it hosts and for the reconstruction of Syria after Assad's departure. Yusuf Duan, head of global markets research at InfoYatirim, said that major opportunities will open up for Turkish companies operating in construction, cement and steel after the political change in Syria, according to Reuters. He added that Turkey's geographical proximity and existing trade ties give its companies a preferential advantage in Syria's reconstruction process. An index including cement companies rose 6.57 percent and the construction sector index rose 2.79 percent.

Challenges facing Turkey

Despite the promising opportunities, Turkey faces a number of challenges. “Rebuilding Syria will require a broad effort, not only for reconstruction, but also for remaking the country as a truly democratic state. This means that there will be many international players, such as the United States, the Arab Gulf states, Turkey, and France, all of whom have the capabilities and expertise to play this role. There are also Lebanese organizations preparing to participate in the reconstruction, especially those that provide consultancy services in the field of construction and the like.”

“The Syrian economy is large and has rich resources, but the sheer scale of destruction is both a challenge and an opportunity. “There are many aspects of reconstruction, from rebuilding housing units and productive industrial enterprises, to rebuilding tourism and infrastructure,” he added, explaining that ”there are many aspects of reconstruction, from rebuilding housing units and productive industrial enterprises, to rebuilding tourism and infrastructure. The nature of the contracts in this context will require broad cooperation and careful management to achieve this goal.”

The outlook for the future

In parallel with political and economic efforts, Turkish companies seem ready to capitalize on the opportunities in Syria. If Turkey succeeds in overcoming political challenges and securing international funding, it could become a key player in Syria's reconstruction, opening up new prospects for regional cooperation and strengthening its role as an economic power in the region.

In conclusion, the reconstruction of Syria is not only an economic project but also a test of international cooperation, with Turkey potentially becoming a key partner in this historic transformation, utilizing its expertise and strategic location to enhance its regional role.

Translated from Arabic.