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Investing in Syria: “Photo Ops” Outweigh Real Change

Middle East Institute (Op-ed) (Jul 9, 2020)

To deal with the intensifying economic crisis, the Syrian regime has pursued various survival-mode mechanisms, like relying on financial support from Iran, spurring inflation-induced growth by printing money, and offering tempting corporate concessions to attract investment. Much to the country’s detriment, Syria’s economic situation has prompted the creation of a unique type of investment — one where the announcement is the only part of the venture ever intended to take place. Such “photo-op investments” happen when both parties know, before signing the contract, that the project will never break ground.

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