Damascus, SANA_ The Finance Minister Dr. Mohammad al-Hussein underlined Thursday the importance of joint Arab economic work, the necessity of coordinating fiscal policies and integrating Arab financial sectors through the exchange of experiences and benefiting from successful experiences, taking into account the regional financial policies, the needs and potential of each country within the framework of Arab economic integration.

During the morning session of the 13th Arab Businessmen and Investors Conference, the Minister pointed out to the role of the advanced and transparent financial sector and its clear strategies in attracting investment in addition to its effect on different economic sectors.

Al-Hussein spoke about the important and necessary role of the private sector as an integral to the governmental role in the economic work far facing the burdens of development which necessitates the provision of the legislative, legal and administrative structure.

For his part, Minister of Industry Dr. Fuad Issa al-Jouni said: " Economic and social development requires advanced scientific and technological base," underlining that the Syrian industry has been working to keep up with regional and international developments and absorb the techniques of production and marketing and modern management with the aim of finding more active and competitive industrial sector at the regional and international level.

Governor of the Central Bank of Syria Dr.Adib Mayaleh said that Syria made many measures at the financial and banking levels through issuing laws, legislations, financial and banking policies to facilitate the movement of capitals and Arab and foreign investments.

Chairman of the Board of Damascus Securities Exchange Dr. Rateb Al Shallah pointed out to the government's support to the establishment of Damascus Stock Exchange, saying that DSE has begun as an independent foundation working as a partner in the development and it is considered as a complement of the legislations that were issued and will be issued in Syria.

Al-Shallah also clarified the importance of the DSE in attracting investments and capitals as well as increasing the savings of the citizens and finding more fields to invest their money.

The morning session focused on the opportunities of investment in financial and industrial sectors in Syria, where participants discussed the development of fiscal and monetary policies and economic legislations and laws and measures taken to increase investments in the industrial sector.

During afternoon session, Syrian Minister of Tourism Saadallah Agha al-Qalaa said "The Ministry has been working to encourage investment in different areas all over Syria." "At the 6th Tourism Forum due to be held in Damascus next month, we will offer tenders for big tourist projects in the fields of environmental, health and sport tourism," he added, stressing the importance of residence hotel investment most in demand. He estimated the value of investment projects under implementation as SP 296 billion, adding that revenues of residence hotel industry in 2009 have made a 9 % increase over 2008. Minister of Communications and Technology Emad Sabouni said the new communications law due to be issued soon will provide legislations for more private investments in this sector, indicating to investment opportunities in the fields of IT, smart villages and content and value-added services. Head of the Board of Directors of NESCO Group in Saudi Arabia Omar Saleh al-Hamidi called for establishing permanent partnership with Syria given the great investment resources available in it.

I. al-Kazhali / Ghossoun /H. Said /Mazen