Syria’s General Directorate of Ports announced Thursday the signing of a significant memorandum of understanding (MoU) with China’s Fidi Contracting Company to develop over 1 million square meters across two key free trade zones, marking a major step in Syria’s bid to attract foreign investment.
According to an official statement published on Telegram, the deal grants Fidi full investment rights in the Hassia Free Zone in central Homs Province, covering approximately 850,000 square meters (210 acres). The project will establish an integrated industrial zone that includes specialized factories and production facilities, aimed at revitalizing Syria’s manufacturing and export capacity.
In addition to the Homs development, the MoU allows Fidi to invest in 300,000 square meters (74 acres) of the Adra Free Zone near Damascus, where it plans to launch commercial and service-oriented projects to meet both local and regional market needs.
The 20-year contract stipulates that the Chinese firm must execute the project in phases according to a fixed timeline, ensuring sustained economic viability and maximizing the strategic role of free zones in generating employment, boosting exports, and attracting foreign direct investment (FDI).
The announcement comes on the heels of a series of high-level meetings between Chinese officials and Syria’s new government, following dramatic political changes in the country. Former President Bashar al-Assad, who ruled Syria for nearly 25 years, fled to Russia in December 2024, marking the end of the Baath Party's rule since 1963.
In January 2025, Ahmed al-Sharaa, a prominent leader of the anti-regime coalition, was sworn in as transitional president, ushering in a new era of governance and international outreach.
The deal with China is seen as part of Syria’s broader push to rebuild infrastructure, reopen trade corridors, and restore investor confidence, particularly from countries willing to engage with the new transitional administration. Analysts view China’s role as pivotal, given its Belt and Road ambitions and experience in post-conflict reconstruction.
Further details on the timeline and financing of the projects are expected in the coming months as implementation begins.
A Kyiv-Warsaw train was struck near the Polish border, Ukraine's state railway firm said on Sunday. No passengers were injured. Ukrai...
Maritime trackers received new reports of an attack on a ship in the Strait of Hormuz on Sunday, according to the ...
Indonesian rescuers are searching for 130 people after a passenger ship carrying 243 people sank in the Java Sea following bad weather, while 113 p...
Iranian President Masoud Pezeshkian arrived in New Delhi on Friday to attend the weekend BRICS summit, amid the ongoing U.S.-Iran conflict, joining a host of foreign dignitaries.
Maritime trackers received new reports of an attack on a ship in the Strait of Hormuz on Sunday, according to the UK Maritime Trade Operations (UKMTO), adding to concerns about energy supplies after Saudi Arabia shut down a vital oil pipeline on Saturday.
A Kyiv-Warsaw train was struck near the Polish border, Ukraine's state railway firm said on Sunday. No passengers were injured. Ukrainian Railways said that the country's railways were facing systematic attacks for a second day and warned of widespread delays.
Saudi Arabia has temporarily shut down its 1,200-kilometre East-West oil pipeline after it was hit by a drone attack, with Riyadh and Baghdad saying the strike originated from Iraq.
Dubai’s property market has spent years climbing. Now, for the first time since 2021, prices are moving in the opposite direction.
Saudi Arabia’s outbound travel market could surge from around $35 billion to more than $60 billion by 2030-2034, driven by a young generation of high-spending travellers and intensifying competition among global destinations.
Uzbekistan’s first permanent contemporary art institution has opened in a historic 1912 building in Tashkent, transforming a former tram depot and diesel power station into a new cultural hub for the region.
Uzbekistan plans to introduce a new Heritage Impact Assessment system to shield historic cities and cultural heritage sites from the potential impact of construction and infrastructure development. Digital tools will also be used to manage tourist numbers and limit visitors where necessary.
Prime Minister Shehbaz Sharif has reaffirmed Pakistan’s commitment to deepening its partnership with the Gates Foundation, with talks spanning polio eradication, health, financial inclusion and digital development.
Iranian President Masoud Pezeshkian arrived in New Delhi on Friday to attend the weekend BRICS summit, amid the ongoing U.S.-Iran conflict, joining a host of foreign dignitaries.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment