Al-Falih: Tadawul to carry out feasibility study on operating Damascus Stock Exchange
Saudi Gazette report
Saudi Stock Exchange (Tadawul) has announced that it will conduct a feasibility study on operating the Damascus Stock Exchange, according to Minister of Investment Khalid Al-Falih.
Al-Falih made the announcement during the Saudi-Russian Business Council meeting held virtually on Wednesday. He also stated that the Saudi Public Investment Fund (PIF) has been invited to participate in the study.
The move comes as part of efforts to strengthen economic ties between Saudi Arabia and Syria. Al-Falih highlighted the importance of enhancing bilateral cooperation in various sectors, including investment and trade.
The decision to carry out the feasibility study reflects the Kingdom’s commitment to supporting economic growth and development in the region. Tadawul’s expertise in operating a successful stock exchange makes it a suitable candidate for this project.
The study will assess the potential benefits and challenges of operating the Damascus Stock Exchange, taking into account the current economic and political situation in Syria. It will also explore opportunities for collaboration between the two countries in the financial sector.
Overall, the initiative demonstrates Saudi Arabia’s commitment to promoting economic stability and growth in the region. By exploring new opportunities for collaboration, the Kingdom aims to strengthen its ties with neighboring countries and contribute to the prosperity of the region as a whole.
