[Damascus] Less than 24 hours after The Media Line reported [1] gaps and shadowy files tied to newly announced investment memorandums of understanding (MOUs) in Syria, the General Secretariat of the Presidency of the Syrian Arab Republic issued an official directive instructing all ministries to audit every MOU signed with local and international firms, assess real-world progress, and report back on deadlines. The move, conveyed through official and local media, sets a higher supervisory bar and puts the investment portfolio under tighter scrutiny.
We are no longer content with media numbers
According to the presidential guidance circulated by local outlets, ministries must file detailed implementation reports for each MOU. Any memorandum showing no tangible progress by a specified date “would be considered null and void,” and the state “would not bear any financial or legal obligations toward it.” The clause signals that paper promises face cancellation unless they advance into funded, scheduled projects and imposes a strict time limit for the stage of “promises on paper.”
An official at the Ministry of Economy and Foreign Trade said the decision aims to separate viable deals from placeholders: “We want to ensure that every signed memorandum translates into practical steps such as feasibility studies, implementation plans, and timelines. We are no longer content with media numbers. This stage requires full transparency from all parties, local and international,” the official, who requested anonymity, told The Media Line.
This holiday season, give to:
Truth and understanding
The Media Line's intrepid correspondents are in Israel, Gaza, Lebanon, Syria and Pakistan providing first-person reporting.
They all said they cover it.
We see it.
We report with just one agenda: the truth.
When huge investment figures are announced without documentation, trust in the economic environment is lost
He also said the directive was meant to protect the investment climate from “attempts at exploitation or deception,” casting the review as a confidence signal to genuine investors.
MOUs are typically statements of intent, not binding contracts. In low-transparency settings without independent oversight, they can mask deals of questionable feasibility—or front entities with scant registration and experience. By contrast, Saudi activity presents a different model: officials announced 47 agreements and MOUs totaling nearly 24 billion Saudi riyals (about $6.4 billion), accompanied by disclosed contracts, feasibility studies, high-level ministerial attendance during an investment forum, and follow-up steps.
Economist Dr. Ahmad Al-Salem told The Media Line that the presidency’s action was “positive and necessary, but not sufficient on its own.” He warned: “When huge investment figures are announced without documentation, trust in the economic environment is lost. This negatively reflects on the exchange rate, on the confidence of international donors, and even on the decisions of local investors. Any decline in trust means a rise in financing costs and difficulty in attracting foreign capital.” Al-Salem urged creation of an independent oversight mechanism from the moment each agreement is signed, and added: “Feasibility studies must be published in full, funding sources clarified, and spending mechanisms outlined. This not only protects public funds but also prevents the state’s resources from being drained into fictitious commitments. If we do not establish an institutional culture of financial transparency, reconstruction will remain shrouded in doubt, and the announced figures will be seen more as propaganda than reality.”
Companies must be obliged to present public legal and financial documents
Attorney Rawan Hasni pressed for tighter disclosure rules. “Companies must be obliged to present public legal and financial documents, so that agreements do not turn into mere fronts for money laundering or manipulation of public resources,” he told The Media Line.
With reconstruction estimated between $250 billion and $500 billion—spanning energy, water, transport, health, and education—the stakes are high. Officials signaled next steps could include interim ministerial reports to sort durable deals from fragile ones, cancellation of stagnant MOUs, referral of suspicious files to judicial and oversight bodies, and steering funds toward projects with verifiable progress. As a yardstick of success, experts say the state must deliver on publishing documents, creating an independent oversight mechanism, and turning serious agreements into tangible projects. Whether this becomes a lasting framework for transparency or a one-off response to media pressure will be tested in the weeks ahead.