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.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 27th of July, covering the latest developments you need to kno...
Cambodia and Thailand accused each other of cross-border attacks on Sunday, hours after U.S. President Donald Trump said their leaders agreed to pursu...
A landmark agreement has been signed for the export of 48 KAAN fighter jets – Türkiye’s indigenously developed National Combat Aircraft – to In...
At the IDEF 2025 defence exhibition, Türkiye and the United Arab Emirates (UAE) took a fresh step in strengthening bilateral defence ties. Turkish ae...
Agriculture and Forestry Minister İbrahim Yumaklı announced that a total of 76 fires have been fought across the country, with 28 in forested areas ...
The United States has confirmed that a meeting between Syrian and Israeli representatives in Paris resulted in progress towards de-escalation, following recent tensions in southern Syria.
Saudi Arabia announced $6.4 billion of investments in Syria on Thursday, reflecting the kingdom's deepening ties with interim President Ahmed al-Sharaa's government as it seeks to rebuild Syria after a 14-year civil war.
Syria officially announced the launch of its first-ever investment forum with Saudi Arabia on Wednesday, marking a milestone in bilateral relations and Syria’s efforts to revitalize its economy under the new transitional government.
Syria and Israel are expected to restart negotiations in Baku, according to Saudi broadcaster Al-Hadath, which cited unnamed sources close to the process.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
At the IDEF 2025 defence exhibition, Türkiye and the United Arab Emirates (UAE) took a fresh step in strengthening bilateral defence ties. Turkish aerospace firm TAAC and UAE-based CALIDUS signed a strategic agreement to jointly develop the landing gear and subsystems for the B250 aircraft platform.
Agriculture and Forestry Minister İbrahim Yumaklı announced that a total of 76 fires have been fought across the country, with 28 in forested areas and 48 in rural regions.
Hawaii turns to lab-grown mosquitoes and drones in a race to stop the extinction of its iconic honeycreeper birds.
Foreign ministers of Azerbaijan and Türkiye held a phone conversation on 25 July to discuss their strategic alliance, regional security, and the Azerbaijan-Armenia peace process.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment