Shafaq News / The Syrian Ministry of Economy adopted a comprehensiveplan to revive factories and strengthen the local economy, the ministry revealed.
The Ministry’s media office told Shafaq News, “The newSyrian administration is adopting a holistic vision to restart factories andrevitalize the national economy, with a primary focus on privatizinggovernment-managed facilities and companies.”
The ministry explained that the government plans to openinvestment opportunities in state-run facilities, including 107 factories underthe Ministry of Industry, with privatization aimed at improving managementefficiency, increasing productivity, and ensuring sustainability through theattraction of capital and expertise.
“Energy is one of the most vital sectors in the newstrategy, focusing on developing both traditional and renewable energy sourcesto support all other industries while improving energy infrastructure to ensurecontinuous industrial production,” the ministry added.
The third pillar of the plan involves supportingreconstruction efforts by restarting factories specializing in constructionmaterials to meet infrastructure and housing rebuilding needs, including theheavy and engineering industries to support large-scale reconstructionprojects.
Regarding the equal support of all industrial sectors, theministry noted, “The government will provide support across the board,including for food, pharmaceutical, textile, petrochemical, and advancedtechnology industries, while promoting collaboration between sectors to achieveindustrial integration.”
The Syrian Standards Authority aims to enhance localproduction and product quality by adopting advanced technologies to boostcompetitiveness, efficiency, and cost-effectiveness in domestic andinternational markets.
The plan also includes measures to bolster exports, open newmarkets for Syrian goods, and expand trade with friendly nations like Iraq, inaddition, “infrastructure improvements are planned to facilitate exports,alongside strategies to attract local and foreign investments,” the statementexplained.
Incentives will be offered to industrial investors, with afocus on modernizing and efficiently managing privatized facilities.
The ministry concluded that “the final component of thestrategy involves supporting small and medium-sized enterprises (SMEs) byproviding technical and training assistance to boost their contribution to theeconomy.”
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