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.
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There are international calls to seek a diplomatic solution amid rising tensions in the Middle East and to prevent Iran from acquiring nuclear weapons. That's according to U.S. Secretary of State Marco Rubio and key international allies who discussed the escalating conflict between Iran and Israel.
The World Bank is pushing for “radical” debt transparency from developing countries to prevent future financial crises, warning that hidden debts are fueling instability.
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