The General Authority for Land and Maritime Ports signed a strategic memorandum of understanding with Chinese company Fidi Contracting, granting the company full investment rights for the free zone in Hassia in Homs Governorate, which covers an area of approximately eight hundred and fifty thousand square meters. The agreement aims to establish an integrated industrial zone comprising specialized factories and production facilities that meet local market needs and support the development of the industrial sector in Syria.
Under the memorandum, the Chinese company also obtained investment rights for three hundred thousand square meters of the free zone in Adra in Damascus Countryside Governorate, where modern commercial and service projects will be developed to meet the requirements of the local and regional markets and enhance Syria’s position as a regional center for attracting investments and stimulating trade exchange.
The contract duration is twenty years, with the company committed to implementing project phases according to a specific timeline to ensure economic feasibility and enhance the role of free zones as a main driver for development and attracting foreign direct investment. This step is part of the Authority’s policy aimed at revitalizing Syrian free zones and attracting foreign capital, especially from friendly countries, contributing to creating new job opportunities, technology transfer, and increasing trade volume through Syria’s land and maritime ports.
Hama Governorate witnessed the official opening of the Hama Iron Factory, affiliated with the General Company for Iron and Steel Products, following the completion of structural updates and reorganization of the factory’s operational plans to keep pace with modern technical developments in the iron industry. The opening ceremony was attended by a representative of the Ministry of Economy and Industry, Abdul Ilah Zaza, the company’s General Manager Ahmed Al-Hanif, the Director of Hama Industry Directorate, alongside the head of the Workers’ Unions Federation and a number of administrative and technical staff working at the factory.
This achievement comes within the framework of a comprehensive plan aimed at developing the metal industries sector in Syria, as the company seeks to raise the level of local production of iron and steel and provide products that meet the requirements of the national market with high quality. Those in charge of the project confirmed that restarting the factory will contribute to supporting the ongoing reconstruction process in the country by providing basic materials at competitive prices and with approved specifications.
On the other hand, the factory is expected to provide hundreds of direct and indirect job opportunities after the modernization, which will positively impact the living conditions of families in Hama Governorate and neighboring areas. The factory’s opening also enhances the national economy’s ability to make optimal use of local resources and establishes solid foundations for developing Syrian industry and achieving self-sufficiency in many strategic products necessary for the construction and development phase.
Deputy Minister of Economy and Industry Bassel Abdul Hanan held an expanded meeting with a high-level Jordanian delegation comprising representatives from Jordan’s chambers of industry and a number of officials and economic experts, with the participation of Syrian Economy Ministry Assistant Mohammad Yassin Houria. The meeting came within the framework of strengthening economic relations between Syria and Jordan and exploring ways to develop bilateral cooperation on solid and sustainable foundations.
Both parties discussed promising investment opportunities in Syria, particularly in the industrial, agricultural, and service sectors, in addition to reviewing the potential for utilizing available resources in both countries to support joint projects and increase trade volume. Participants emphasized the importance of working to remove obstacles to the movement of goods and capital, and creating an attractive investment environment through adopting policies that encourage transition toward a more open and free economy.
Deputy Minister Bassel Abdul Hanan emphasized in his remarks that developing economic cooperation with Jordan represents an important step toward building strategic partnerships that serve the interests of both countries and support comprehensive development. He explained that such initiatives would support the business environment and expand areas of cooperation between the public and private sectors, in addition to opening new horizons for investors and facilitating the establishment of investment projects that benefit the national economy.
For its part, the Jordanian delegation expressed the business sector’s desire in Jordan to strengthen economic partnership with Syria and explore cooperation opportunities in new fields, affirming that the upcoming phase requires greater coordination and exchange of expertise to contribute to advancing development and achieving mutual gains for both peoples.
Deputy Minister of Economy and Industry Engineer Basil Abdul Aziz Abdul Hanan chaired an expanded meeting at the industrial city in Hassia, which included representatives from the White Room Investment Group and a number of officials and stakeholders in the industrial sector. The meeting came within the framework of exploring mechanisms to enhance cooperation and support strategic projects that keep pace with digital transformation and the implementation of automation in the Syrian industrial sector.
The Deputy Minister emphasized during the meeting that the ministry attaches great importance to expanding partnerships between the public and private sectors, noting that strengthening these partnerships would enhance the competitiveness of national industries and attract quality investments that contribute to developing industrial infrastructure. He also explained that adopting modern technologies and digital transformation represent an essential step to open new horizons for the industrial sector and enhance its ability to meet the requirements of local and foreign markets.
For their part, representatives of the White Room Group presented their vision for implementing innovative projects based on automation and advanced digital solutions, confirming their desire to cooperate with Syrian institutions to implement initiatives that keep pace with technological developments and contribute to developing the investment environment and supporting the national economy.
Economy Minister Mohammad Nidal Al-Shaar received French Chargé d’Affaires Jean-Baptiste Favier in Damascus, where extensive discussions were held on ways to develop economic relations between Syria and France and open new horizons for bilateral cooperation. Both sides emphasized the importance of lifting European sanctions, considering that this would contribute to creating a better economic climate and support mutual investment opportunities.
The two parties discussed possibilities for cooperation in the field of vocational training for Syrian youth, through launching joint programs with the French side aimed at qualifying national cadres and providing them with the skills required by the labor market. The talks also included proposals for establishing business incubators to support small and medium enterprises and enable individual initiatives, where Minister Al-Shaar emphasized that these incubators represent a fundamental pillar for strengthening the national economy.
For his part, Jean-Baptiste Favier expressed his country’s readiness to provide the necessary technical support and contribute to implementing developmental projects in partnership with Syria, in addition to encouraging French companies to invest in various economic sectors within the country, which would enhance development opportunities and benefit both sides.