BDO Insight - Newsletter - August 2026
BDO Insight - Newsletter - August 2026
1. Jordan article
Jordan’s 2026 Investment Environment Regulation: from reform to implementation
Introduction
Jordan’s amended Investment Environment Regulation for 2026 represents an important development in the Kingdom’s investment framework.
According to Jordan’s Ministry of Investment, the amended regulation was published in the Official Gazette on 4 June 2026 as part of the Executive Programme of the Economic Modernization Vision. The Ministry stated that the amendments are intended to improve the competitiveness of Jordan’s investment environment, streamline regulatory procedures and enhance the efficiency of services provided to investors.[1]
The regulatory amendments provide an important enabling framework. Their practical economic value, however, will depend on how effectively investors and businesses translate the revised requirements into properly structured, compliant and executable projects.
Principal regulatory developments
The Ministry of Investment identifies the introduction of a “License to Conduct Economic Activities Subject to Compliance” within development zones as one of the principal changes.
Under this mechanism, eligible investors may commence operations more rapidly, while compliance with applicable regulatory requirements is subsequently verified through monitoring and post-licensing inspections.[1]
The Ministry further indicates that the amendments are intended to:
The Ministry reported that the amendments were developed following consultation with more than 25 public- and private-sector entities, in addition to investors representing different economic sectors.[2]
BDO perspective: why the amendments matter
The introduction of compliance-based licensing may shorten the period between regulatory application and commencement of operations. It also transfers greater responsibility to investors to demonstrate ongoing compliance after the license has been issued.
This means that regulatory readiness should not end when approval is obtained.
Businesses relying on the amended framework should establish appropriate internal responsibilities, compliance registers, documentary evidence, monitoring procedures and corrective-action mechanisms.
The commercial benefits of faster licensing could be reduced if an organization commences operations without adequate systems for demonstrating continued compliance.
What investors should assess
Eligibility for incentives
Investors should determine whether a proposed investment, expansion or development project meets the applicable eligibility conditions.
The assessment should consider:
Licensing and regulatory requirements
A complete regulatory map should be prepared before implementation begins.
This should identify:
The legal form, ownership arrangements, financing structure, tax position and operating model should be assessed together.
A structure that is eligible for a particular incentive may not necessarily be the most appropriate structure from a governance, financing or long-term operational perspective.
Implementation capacity
Regulatory approval does not guarantee successful delivery.
Organizations should confirm that they have:
Jordan’s amended Investment Environment Regulation provides an opportunity to improve the investor journey and accelerate the establishment and expansion of economic activities.
Its impact will ultimately depend on the extent to which regulatory reform results in commercially viable projects, effective implementation, sustainable operations and employment creation.
Organizations that treat the amendments as part of a wider investment and implementation strategy, not merely as a licensing exercise, will be better placed to capture their potential value.
Sources and references
[1] Ministry of Investment, Jordan. (2026, 7 June). Amended Investment Environment Regulation Published in the Official Gazette. Invest Jordan. Accessed 12 July 2026.
[2] Ministry of Investment, Jordan. (2026). Cabinet Approves Amended Investment Environment Regulation for 2026. Invest Jordan. Accessed 12 July 2026.
Disclaimer
This article provides general information and BDO’s professional perspective on publicly available regulatory developments. It does not constitute legal, tax or investment advice. Specific professional advice should be obtained before taking action.
The factual statements above are supported by the Ministry of Investment’s confirmation of the Official Gazette publication, the compliance-based licensing mechanism, procedural reforms and expanded incentives. (invest.jo)
2. Iraq article
From opportunity to implementation: advancing private-sector growth in Iraq
Introduction
Iraq’s population, resource base, infrastructure requirements and demand for modern services continue to create significant opportunities for domestic and international businesses.
At the same time, the country’s economy remains exposed to external shocks, oil-market movements, institutional constraints and implementation challenges.
A June 2026 publication by the United Nations Development Programme examined the Iraqi economy within the context of changing regional and international dynamics. The publication highlighted the impact of external shocks and the need to strengthen economic resilience while converting structural challenges into sustainable growth and development opportunities.[1]
The central business question is therefore not simply whether Iraq offers opportunity; it is how those opportunities can be converted into commercially viable, well-governed and implementable investments.
Increasing attention to diversification and investment delivery
In May 2026, the Iraq Development Fund and UNDP signed a memorandum of understanding intended to strengthen cooperation on economic diversification, strategic investment and sustainable development.
According to UNDP, the areas of cooperation include:
These developments indicate an increasing emphasis on moving beyond broad investment ambition toward practical project preparation, institutional capacity and implementation.
BDO perspective: where value is created
The commercial potential of the Iraqi market is substantial, but investment scale does not in itself produce sustainable value.
Projects are more likely to succeed when they are based on:
Five priorities for investors
1. Establish a realistic commercial case
Investment decisions should be supported by independently tested assumptions concerning:
2. Assess local partners and counterparties
Local partnerships can support market access, regulatory engagement and implementation.
However, partnership arrangements should be supported by:
Governance should be designed before implementation begins.
The project structure should clearly establish:
Obtaining approval or project support does not ensure successful implementation.
A credible delivery model should address:
The project model should consider exposure to:
Conclusion
Iraq’s economic scale provides a strong basis for investment, but sustainable growth will require disciplined project preparation, stronger institutions and more effective implementation.
The strongest opportunities will be those that respond to demonstrated needs, have realistic commercial and financing models, establish accountable partnerships and can operate effectively under actual market conditions.
Sources and references
[1] United Nations Development Programme. (2026, 28 June). The Iraqi Economy: Navigating Challenges and Leveraging Opportunities for Growth and Development. UNDP Iraq. Accessed 12 July 2026.
[2] United Nations Development Programme. (2026, 17 May). New UNDP–Iraq Development Fund Partnership Advances Strategic Investment, Infrastructure and Inclusive Growth in Iraq. UNDP Iraq. Accessed 12 July 2026.
Disclaimer
This article combines information from publicly available sources with BDO’s professional analysis. References to sectors and investment priorities do not constitute investment recommendations or guarantees of commercial viability.
UNDP’s June publication supports the discussion of external shocks, resilience and sustainable growth, while the May partnership announcement supports the references to infrastructure, PPPs, water resilience, agriculture value chains and investment readiness. (UNDP)
3. Syria article
Rebuilding productive capacity: the role of Syria’s private sector in economic recovery
Introduction
Syria’s economic recovery will require the restoration of productive capacity, sustainable employment, functioning institutions and greater confidence among public authorities, businesses, investors and communities.
The country’s private sector, including micro and small enterprises, traders, farms, workshops, service providers and manufacturers, has continued to support employment, livelihoods and market activity despite prolonged disruption.
UNDP’s February 2026 analysis describes Syria’s private sector as one of the country’s principal recovery assets, noting that enterprises have continued to preserve skills, sustain market activity and support household livelihoods under exceptionally difficult conditions.[1]
The next challenge is to convert this resilience into more structured, responsible and sustainable economic recovery.
Evidence from the 2026 Syrian Private Sector Dialogue
In 2026, the Ministry of Economy and Industry and UNDP convened the Syrian Private Sector Dialogue in Syria.
According to UNDP, the process brought together business representatives from different sectors, locations and enterprise sizes, including SMEs, entrepreneurs, women, young people and representatives of the Syrian diaspora.[2]
The national conference, held in Damascus from 1 to 3 June 2026, focused on issues including:
Rebuilding value chains
UNDP’s analysis of private-sector-led recovery identifies the rebuilding of domestic value chains, regional integration, diaspora engagement and job-rich sectors as important opportunities for economic renewal.[4]
The analysis emphasizes that progress will depend on practical enabling conditions, including:
BDO perspective: priorities for responsible recovery
Clear and predictable regulation
Businesses require transparent and consistently applied procedures relating to:
Access to finance
Businesses may require finance to repair equipment, rebuild inventories, recruit employees and restore production.
In March 2026, UNDP and the Central Bank of Syria announced a cooperation agreement intended to strengthen institutional capacity, supervisory and regulatory frameworks, operational systems and digital infrastructure within the financial sector.[5]
According to UNDP, the cooperation is intended to contribute to a more resilient, transparent and accountable financial system.[5]
Financial-sector reform and enterprise recovery are closely connected. Access to finance will remain constrained unless financial institutions, borrower information, lending processes and enterprise-level financial management improve together.
Enterprise governance
Businesses seeking financing, partnerships or access to international markets will need stronger internal systems, including:
The 2026 Syrian Private Sector Dialogue included dedicated consideration of diaspora capital, expertise, business networks and market connections.[3]
Attracting productive diaspora participation will require clear investment pathways, credible counterparties, transparent governance and appropriate protection of investor rights.
Employment and inclusion
Economic recovery should prioritize investment capable of generating jobs and supporting local production.
Projects should consider:
Any organization considering activities connected to Syria should conduct specific legal and compliance assessments.
The requirements may vary according to the parties, sector, transaction, financing arrangements and jurisdictions involved.
Relevant considerations may include:
Conclusion
Syria’s private sector has demonstrated significant resilience. The objective now is to create conditions under which enterprises can move from survival toward investment, productivity, employment and sustainable growth.
Progress will depend on effective institutions, predictable rules, access to finance, accountable public-private dialogue, responsible investment and stronger enterprise governance.
Sources and references
[1] United Nations Development Programme. (2026, 25 February). Syria’s Economy After the 2024 Transition: Jobs, Enterprise, and a Path Forward. UNDP Syria. Accessed 12 July 2026.
[2] United Nations Development Programme. (2026, 18 January). UNDP Launches the First National Syrian Private Sector Dialogue Initiative in Damascus. UNDP Syria. Accessed 12 July 2026.
[3] United Nations Development Programme. (2026, 1 June). Syria Private Sector National Conference: PSD-2026-Damascus. UNDP Syria. Accessed 12 July 2026.
[4] United Nations Development Programme. (2026, 22 January). Syria’s Private Sector: Strategic Opportunities for Economic Renewal. UNDP Syria. Accessed 12 July 2026.
[5] United Nations Development Programme. (2026, 1 March). UNDP and Central Bank of Syria Join Forces to Bolster Financial Stability and Drive Institutional Reform. UNDP Syria. Accessed 12 July 2026.
Disclaimer
This article is based on publicly available sources and BDO’s professional analysis. Any engagement involving Syria remains subject to applicable legal, sanctions, regulatory, banking and internal risk-acceptance requirements.
The referenced UNDP materials directly support the discussion of private-sector dialogue, value chains, jobs, diaspora engagement, financial-sector reform and institutional capacity. (UNDP)
4. BDO Global Risk article
Risk everywhere: implications for organizations in Jordan, Iraq and Syria
Introduction
The global risk environment has become increasingly interconnected.
Geopolitical instability can affect supply chains, regulation, financing, technology and business confidence simultaneously. Artificial intelligence can improve productivity while also increasing exposure to fraud, data misuse and governance failures.
BDO Global’s Global Risk Landscape 2026 examines how organizations are responding to this environment and identifies instances where conventional approaches to risk management may no longer be sufficient.[1]
Evidence from the BDO Global survey
The report is based on insights collected from 500 C-suite executives across major global markets.[1]
According to the report:
The report also identifies a widening distinction between organizations that manage risk as a defensive and isolated function and those that embed risk considerations across strategic and operational decision-making.[1]
BDO perspective: implications for Jordan
For organisations in Jordan, the findings reinforce the need to:
BDO’s perspective: implications for Iraq
For organisations operating in Iraq, priority areas include:
BDO’s perspective: implications for Syria
For organisations operating or considering engagement in Syria, the findings reinforce the importance of:
Five actions for boards and executive management
Establish shared ownership
Responsibility for risk should be clearly allocated across the board, executive management, finance, operations, technology, human resources, compliance and internal audit.
Develop an integrated risk view
Geopolitical, financial, cyber, fraud, operational and third-party risks should be assessed together where they interact.
Use scenario analysis
Organisations should test how material disruptions may affect:
Controls should address:
Risk reporting must reach boards and management early enough to influence investment decisions, contracts, financing, project design and strategic priorities.
Conclusion
Organisations cannot eliminate uncertainty. They can, however, improve their ability to understand exposure, make informed decisions and maintain critical operations during disruption.
Risk management creates the greatest value when it enables confident decision-making rather than operating solely as a mechanism for preventing loss.
Source and reference
[1] BDO Global. (2026, 2 June). Global Risk Landscape 2026: Risk Everywhere—Extending Ownership Beyond the Risk Function. BDO Global. Accessed 12 July 2026.
Attribution statement
This article provides a local BDO interpretation of selected findings from BDO Global’s Global Risk Landscape 2026. Readers should consult the full BDO Global publication for the complete methodology, findings and analysis.
Disclaimer
The country-specific observations in this article constitute BDO’s professional perspective and are not findings expressly stated in the BDO Global report.
The sample size, percentages and conclusions regarding interconnected risks, cyber preparedness, fraud and cross-functional ownership are taken directly from BDO Global’s published report page. (bdo.global)
Jordan’s 2026 Investment Environment Regulation: from reform to implementation
Introduction
Jordan’s amended Investment Environment Regulation for 2026 represents an important development in the Kingdom’s investment framework.
According to Jordan’s Ministry of Investment, the amended regulation was published in the Official Gazette on 4 June 2026 as part of the Executive Programme of the Economic Modernization Vision. The Ministry stated that the amendments are intended to improve the competitiveness of Jordan’s investment environment, streamline regulatory procedures and enhance the efficiency of services provided to investors.[1]
The regulatory amendments provide an important enabling framework. Their practical economic value, however, will depend on how effectively investors and businesses translate the revised requirements into properly structured, compliant and executable projects.
Principal regulatory developments
The Ministry of Investment identifies the introduction of a “License to Conduct Economic Activities Subject to Compliance” within development zones as one of the principal changes.
Under this mechanism, eligible investors may commence operations more rapidly, while compliance with applicable regulatory requirements is subsequently verified through monitoring and post-licensing inspections.[1]
The Ministry further indicates that the amendments are intended to:
- Re-engineer procedures for issuing licenses and approvals.
- Reduce the time required to complete regulatory procedures.
- Lower the administrative time and cost incurred by investors.
- Expand access to investment incentives.
- Accelerate the implementation of investment projects.[1]
The Ministry reported that the amendments were developed following consultation with more than 25 public- and private-sector entities, in addition to investors representing different economic sectors.[2]
BDO perspective: why the amendments matter
The introduction of compliance-based licensing may shorten the period between regulatory application and commencement of operations. It also transfers greater responsibility to investors to demonstrate ongoing compliance after the license has been issued.
This means that regulatory readiness should not end when approval is obtained.
Businesses relying on the amended framework should establish appropriate internal responsibilities, compliance registers, documentary evidence, monitoring procedures and corrective-action mechanisms.
The commercial benefits of faster licensing could be reduced if an organization commences operations without adequate systems for demonstrating continued compliance.
What investors should assess
Eligibility for incentives
Investors should determine whether a proposed investment, expansion or development project meets the applicable eligibility conditions.
The assessment should consider:
- The nature of the economic activity.
- The proposed location.
- Investment value.
- Employment contribution.
- Use of modern technology.
- Applicable sector-specific requirements.
- Conditions attached to the relevant incentive.
Licensing and regulatory requirements
A complete regulatory map should be prepared before implementation begins.
This should identify:
- Required licenses and permits.
- Relevant regulatory authorities.
- Dependencies among approvals.
- Environmental, health, safety and sector requirements.
- Renewal obligations.
- Reporting requirements.
- Post-licensing inspection requirements.
The legal form, ownership arrangements, financing structure, tax position and operating model should be assessed together.
A structure that is eligible for a particular incentive may not necessarily be the most appropriate structure from a governance, financing or long-term operational perspective.
Implementation capacity
Regulatory approval does not guarantee successful delivery.
Organizations should confirm that they have:
- A realistic implementation plan.
- Appropriate project governance.
- Confirmed sources of finance.
- Suitable contractors and suppliers.
- Adequate technical and managerial capacity.
- Effective cost and schedule controls.
- A clear stakeholder-management approach.
Jordan’s amended Investment Environment Regulation provides an opportunity to improve the investor journey and accelerate the establishment and expansion of economic activities.
Its impact will ultimately depend on the extent to which regulatory reform results in commercially viable projects, effective implementation, sustainable operations and employment creation.
Organizations that treat the amendments as part of a wider investment and implementation strategy, not merely as a licensing exercise, will be better placed to capture their potential value.
Sources and references
[1] Ministry of Investment, Jordan. (2026, 7 June). Amended Investment Environment Regulation Published in the Official Gazette. Invest Jordan. Accessed 12 July 2026.
[2] Ministry of Investment, Jordan. (2026). Cabinet Approves Amended Investment Environment Regulation for 2026. Invest Jordan. Accessed 12 July 2026.
Disclaimer
This article provides general information and BDO’s professional perspective on publicly available regulatory developments. It does not constitute legal, tax or investment advice. Specific professional advice should be obtained before taking action.
The factual statements above are supported by the Ministry of Investment’s confirmation of the Official Gazette publication, the compliance-based licensing mechanism, procedural reforms and expanded incentives. (invest.jo)
2. Iraq article
From opportunity to implementation: advancing private-sector growth in Iraq
Introduction
Iraq’s population, resource base, infrastructure requirements and demand for modern services continue to create significant opportunities for domestic and international businesses.
At the same time, the country’s economy remains exposed to external shocks, oil-market movements, institutional constraints and implementation challenges.
A June 2026 publication by the United Nations Development Programme examined the Iraqi economy within the context of changing regional and international dynamics. The publication highlighted the impact of external shocks and the need to strengthen economic resilience while converting structural challenges into sustainable growth and development opportunities.[1]
The central business question is therefore not simply whether Iraq offers opportunity; it is how those opportunities can be converted into commercially viable, well-governed and implementable investments.
Increasing attention to diversification and investment delivery
In May 2026, the Iraq Development Fund and UNDP signed a memorandum of understanding intended to strengthen cooperation on economic diversification, strategic investment and sustainable development.
According to UNDP, the areas of cooperation include:
- Institutional strengthening.
- Public-private partnership approaches.
- Infrastructure development.
- Education infrastructure.
- Water resilience.
- Agriculture value chains.
- Rural investment.
- Private-sector participation.
- Project planning and investment readiness.[2]
These developments indicate an increasing emphasis on moving beyond broad investment ambition toward practical project preparation, institutional capacity and implementation.
BDO perspective: where value is created
The commercial potential of the Iraqi market is substantial, but investment scale does not in itself produce sustainable value.
Projects are more likely to succeed when they are based on:
- Demonstrated market demand.
- Realistic financial assumptions.
- Accountable partnerships.
- Effective governance.
- Appropriate project structures.
- Strong implementation capacity.
- Resilience to economic and operational disruption.
Five priorities for investors
1. Establish a realistic commercial case
Investment decisions should be supported by independently tested assumptions concerning:
- Market demand.
- Pricing and affordability.
- Capital expenditure.
- Operating costs.
- Revenue collection.
- Foreign-exchange exposure.
- Supply-chain requirements.
- Project phasing.
- Working-capital needs.
2. Assess local partners and counterparties
Local partnerships can support market access, regulatory engagement and implementation.
However, partnership arrangements should be supported by:
- Commercial due diligence.
- Integrity and reputational due diligence.
- Beneficial-ownership verification.
- Clear governance arrangements.
- Defined decision-making authority.
- Transparent financial controls.
- Conflict-of-interest provisions.
- Performance requirements.
- Dispute-resolution mechanisms.
Governance should be designed before implementation begins.
The project structure should clearly establish:
- Board and management responsibilities.
- Delegated authorities.
- Procurement requirements.
- Financial reporting.
- Anti-fraud and anti-corruption controls.
- Contract-management procedures.
- Internal assurance arrangements.
- Escalation and decision-making protocols.
Obtaining approval or project support does not ensure successful implementation.
A credible delivery model should address:
- Licensing and permits.
- Land and site readiness.
- Contractors and suppliers.
- Workforce requirements.
- Logistics.
- Infrastructure dependencies.
- Security and business continuity.
- Project controls.
- Stakeholder coordination.
- Operational handover.
The project model should consider exposure to:
- Oil-price and fiscal volatility.
- Currency and payment risks.
- Regional disruption.
- Supply-chain interruption.
- Technology and cyber risk.
- Infrastructure limitations.
- Environmental and climate-related risks.
Conclusion
Iraq’s economic scale provides a strong basis for investment, but sustainable growth will require disciplined project preparation, stronger institutions and more effective implementation.
The strongest opportunities will be those that respond to demonstrated needs, have realistic commercial and financing models, establish accountable partnerships and can operate effectively under actual market conditions.
Sources and references
[1] United Nations Development Programme. (2026, 28 June). The Iraqi Economy: Navigating Challenges and Leveraging Opportunities for Growth and Development. UNDP Iraq. Accessed 12 July 2026.
[2] United Nations Development Programme. (2026, 17 May). New UNDP–Iraq Development Fund Partnership Advances Strategic Investment, Infrastructure and Inclusive Growth in Iraq. UNDP Iraq. Accessed 12 July 2026.
Disclaimer
This article combines information from publicly available sources with BDO’s professional analysis. References to sectors and investment priorities do not constitute investment recommendations or guarantees of commercial viability.
UNDP’s June publication supports the discussion of external shocks, resilience and sustainable growth, while the May partnership announcement supports the references to infrastructure, PPPs, water resilience, agriculture value chains and investment readiness. (UNDP)
3. Syria article
Rebuilding productive capacity: the role of Syria’s private sector in economic recovery
Introduction
Syria’s economic recovery will require the restoration of productive capacity, sustainable employment, functioning institutions and greater confidence among public authorities, businesses, investors and communities.
The country’s private sector, including micro and small enterprises, traders, farms, workshops, service providers and manufacturers, has continued to support employment, livelihoods and market activity despite prolonged disruption.
UNDP’s February 2026 analysis describes Syria’s private sector as one of the country’s principal recovery assets, noting that enterprises have continued to preserve skills, sustain market activity and support household livelihoods under exceptionally difficult conditions.[1]
The next challenge is to convert this resilience into more structured, responsible and sustainable economic recovery.
Evidence from the 2026 Syrian Private Sector Dialogue
In 2026, the Ministry of Economy and Industry and UNDP convened the Syrian Private Sector Dialogue in Syria.
According to UNDP, the process brought together business representatives from different sectors, locations and enterprise sizes, including SMEs, entrepreneurs, women, young people and representatives of the Syrian diaspora.[2]
The national conference, held in Damascus from 1 to 3 June 2026, focused on issues including:
- The legal and regulatory environment.
- Taxation and financing.
- Trade and production.
- Market access.
- Technical skills and knowledge.
- Employment and innovation.
- Investment conditions.
- Private-sector participation in economic recovery.[3]
Rebuilding value chains
UNDP’s analysis of private-sector-led recovery identifies the rebuilding of domestic value chains, regional integration, diaspora engagement and job-rich sectors as important opportunities for economic renewal.[4]
The analysis emphasizes that progress will depend on practical enabling conditions, including:
- Clear and predictable rules.
- Fair competition.
- Inclusive public-private dialogue.
- Productive investment.
- Employment creation.
- Stronger economic governance.[4]
BDO perspective: priorities for responsible recovery
Clear and predictable regulation
Businesses require transparent and consistently applied procedures relating to:
- Registration.
- Licensing.
- Taxation.
- Land access.
- Customs.
- Imports and exports.
- Investment approvals.
Access to finance
Businesses may require finance to repair equipment, rebuild inventories, recruit employees and restore production.
In March 2026, UNDP and the Central Bank of Syria announced a cooperation agreement intended to strengthen institutional capacity, supervisory and regulatory frameworks, operational systems and digital infrastructure within the financial sector.[5]
According to UNDP, the cooperation is intended to contribute to a more resilient, transparent and accountable financial system.[5]
Financial-sector reform and enterprise recovery are closely connected. Access to finance will remain constrained unless financial institutions, borrower information, lending processes and enterprise-level financial management improve together.
Enterprise governance
Businesses seeking financing, partnerships or access to international markets will need stronger internal systems, including:
- Reliable accounting records.
- Transparent ownership.
- Internal controls.
- Tax compliance.
- Procurement procedures.
- Workforce policies.
- Risk management.
- Environmental and social safeguards.
- Defined governance arrangements.
The 2026 Syrian Private Sector Dialogue included dedicated consideration of diaspora capital, expertise, business networks and market connections.[3]
Attracting productive diaspora participation will require clear investment pathways, credible counterparties, transparent governance and appropriate protection of investor rights.
Employment and inclusion
Economic recovery should prioritize investment capable of generating jobs and supporting local production.
Projects should consider:
- Local supplier participation.
- Workforce development.
- Women’s economic participation.
- Youth employment.
- Geographic inclusion.
- Responsible labor practices.
- Efficient use of water and energy.
- Environmental impact.
Any organization considering activities connected to Syria should conduct specific legal and compliance assessments.
The requirements may vary according to the parties, sector, transaction, financing arrangements and jurisdictions involved.
Relevant considerations may include:
- Applicable sanctions and restrictions.
- Export controls.
- Banking and payment requirements.
- Beneficial ownership.
- Anti-money-laundering obligations.
- Counterparty integrity.
- Responsible procurement.
Conclusion
Syria’s private sector has demonstrated significant resilience. The objective now is to create conditions under which enterprises can move from survival toward investment, productivity, employment and sustainable growth.
Progress will depend on effective institutions, predictable rules, access to finance, accountable public-private dialogue, responsible investment and stronger enterprise governance.
Sources and references
[1] United Nations Development Programme. (2026, 25 February). Syria’s Economy After the 2024 Transition: Jobs, Enterprise, and a Path Forward. UNDP Syria. Accessed 12 July 2026.
[2] United Nations Development Programme. (2026, 18 January). UNDP Launches the First National Syrian Private Sector Dialogue Initiative in Damascus. UNDP Syria. Accessed 12 July 2026.
[3] United Nations Development Programme. (2026, 1 June). Syria Private Sector National Conference: PSD-2026-Damascus. UNDP Syria. Accessed 12 July 2026.
[4] United Nations Development Programme. (2026, 22 January). Syria’s Private Sector: Strategic Opportunities for Economic Renewal. UNDP Syria. Accessed 12 July 2026.
[5] United Nations Development Programme. (2026, 1 March). UNDP and Central Bank of Syria Join Forces to Bolster Financial Stability and Drive Institutional Reform. UNDP Syria. Accessed 12 July 2026.
Disclaimer
This article is based on publicly available sources and BDO’s professional analysis. Any engagement involving Syria remains subject to applicable legal, sanctions, regulatory, banking and internal risk-acceptance requirements.
The referenced UNDP materials directly support the discussion of private-sector dialogue, value chains, jobs, diaspora engagement, financial-sector reform and institutional capacity. (UNDP)
4. BDO Global Risk article
Risk everywhere: implications for organizations in Jordan, Iraq and Syria
Introduction
The global risk environment has become increasingly interconnected.
Geopolitical instability can affect supply chains, regulation, financing, technology and business confidence simultaneously. Artificial intelligence can improve productivity while also increasing exposure to fraud, data misuse and governance failures.
BDO Global’s Global Risk Landscape 2026 examines how organizations are responding to this environment and identifies instances where conventional approaches to risk management may no longer be sufficient.[1]
Evidence from the BDO Global survey
The report is based on insights collected from 500 C-suite executives across major global markets.[1]
According to the report:
- 80% of surveyed business leaders considered the global risk environment to be more defined by crisis than ever before.
- Cybersecurity was among the three leading risks for which organisations felt unprepared.
- 93% of respondents did not identify fraud as a leading risk, despite the increasing sophistication of AI-enabled fraud.
- Only 13% of organizations were actively updating their defenses against AI-driven fraud.[1]
The report also identifies a widening distinction between organizations that manage risk as a defensive and isolated function and those that embed risk considerations across strategic and operational decision-making.[1]
BDO perspective: implications for Jordan
For organisations in Jordan, the findings reinforce the need to:
- Incorporate regulatory developments into strategic planning.
- Strengthen cyber and data governance.
- Assess outsourced service providers and third parties.
- Prepare for regional supply-chain interruption.
- Integrate risk considerations into investment and digital-transformation decisions.
- Provide boards with timely, decision-relevant risk information.
BDO’s perspective: implications for Iraq
For organisations operating in Iraq, priority areas include:
- Project and investment governance.
- Partner and counterparty due diligence.
- Procurement and contract controls.
- Fraud prevention.
- Cybersecurity.
- Supply-chain resilience.
- Business-continuity planning.
- Clear accountability among shareholders, boards, management and project teams.
BDO’s perspective: implications for Syria
For organisations operating or considering engagement in Syria, the findings reinforce the importance of:
- Legal and sanctions compliance.
- Counterparty due diligence.
- Beneficial-ownership transparency.
- Financial controls.
- Responsible procurement.
- Data reliability.
- Business continuity.
- Institutional and workforce capacity.
- Oversight of partners and implementing entities.
Five actions for boards and executive management
Establish shared ownership
Responsibility for risk should be clearly allocated across the board, executive management, finance, operations, technology, human resources, compliance and internal audit.
Develop an integrated risk view
Geopolitical, financial, cyber, fraud, operational and third-party risks should be assessed together where they interact.
Use scenario analysis
Organisations should test how material disruptions may affect:
- Revenue.
- Liquidity.
- Supply chains.
- Technology.
- Employees.
- Customers.
- Critical operations.
Controls should address:
- Access to AI tools.
- Confidential and personal data.
- Verification of AI-generated content.
- Human approval requirements.
- Identity and payment fraud.
- Accountability for AI-supported decisions.
Risk reporting must reach boards and management early enough to influence investment decisions, contracts, financing, project design and strategic priorities.
Conclusion
Organisations cannot eliminate uncertainty. They can, however, improve their ability to understand exposure, make informed decisions and maintain critical operations during disruption.
Risk management creates the greatest value when it enables confident decision-making rather than operating solely as a mechanism for preventing loss.
Source and reference
[1] BDO Global. (2026, 2 June). Global Risk Landscape 2026: Risk Everywhere—Extending Ownership Beyond the Risk Function. BDO Global. Accessed 12 July 2026.
Attribution statement
This article provides a local BDO interpretation of selected findings from BDO Global’s Global Risk Landscape 2026. Readers should consult the full BDO Global publication for the complete methodology, findings and analysis.
Disclaimer
The country-specific observations in this article constitute BDO’s professional perspective and are not findings expressly stated in the BDO Global report.
The sample size, percentages and conclusions regarding interconnected risks, cyber preparedness, fraud and cross-functional ownership are taken directly from BDO Global’s published report page. (bdo.global)