The Syrian General Authority for Land and Sea Ports announced the signing of a strategic memorandum of understanding with the Chinese company “Fidi Contracting” to invest in free zones in Syria, covering an area of over one million square meters.
According to a statement from the authority issued yesterday, Thursday, May 22, the memorandum of understanding grants the company the right to invest the entire free zone in Hasya area in Homs governorate, estimated to be around 850,000 square meters, with the aim of establishing a comprehensive industrial zone that includes specialized factories and production facilities.
Under the memorandum of understanding, the Chinese company was granted the right to invest 300,000 square meters of the free zone in Adra, in the rural Damascus governorate, to establish commercial and service projects that meet the needs of the local and regional market.
The duration of the contract is twenty years, and the Chinese company is committed to executing the project phases according to a specified schedule, ensuring economic feasibility and enhancing the role of free zones as a driver of development and a magnet for foreign direct investment.
The Syrian Ports Authority considered in its statement that this type of investment contributes to improving the infrastructure of free zones and expanding their industrial and commercial activities, thereby enhancing Syria’s position as a regional center for transport and logistical services.
Intensive research conducted by Enab Baladi revealed no information about the Chinese company “Fidi Contracting,” or its owners, nature of work, or activities in its home country or other countries.
Until 2010, Syria had four major traditional industrial cities: the Adra industrial city in the rural area northeast of the capital, the Sheikh Najjar industrial city in Aleppo, the industrial city in Hasya south of Homs, and the industrial city in Deir Ezzor.
After 2011, and with areas of Syria falling out of the Assad regime’s control, many industrial areas and cities were established in northern Syria. In northern rural Aleppo, there are five industrial zones, and in Idlib, there is the Bab al-Hawa industrial city.
China is one of the prominent allies of the ousted Assad regime, yet it announced after his downfall that it was “greatly interested in the evolution of the situation in Syria and sincerely hopes that Syria will regain stability as soon as possible and embark on the path of peace and development,” according to its representative at the UN Security Council on April 29.
Commercially, the transitional Syrian president, Ahmed al-Sharaa, met with a delegation of Chinese businessmen led by Zhou Lijiang, the general manager of “AOJ-Technology” in the Middle East, on May 1.
Chinese company invests one million square meters in Syrian free zones Enab Baladi.
Read More Details
Finally We wish PressBee provided you with enough information of ( Chinese company invests one million square meters in Syrian free zones )
Also on site :