Syria signs 8 investment contracts in free zones with local and foreign companies

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The General Corporation for Free Zones in Syria signed eight investment contracts with four local, regional, and foreign companies, in a move aimed at placing the Al-Tanf and Al-Yarubiyah free zones on direct trade lines.

The Director of the Department of International Relations and Cooperation at the Syrian General Authority of Ports and Customs, Mazen Alloush, said that the total area of ​​​​the projects, amounting to about 625 thousand square meters, is distributed between two strategic points on the eastern border strip.

He added that 500,000 square meters were allocated in the free zone in Al-Tanf to establish industrial complexes and advanced logistics centers, compared to 125,000 square meters in the free zone in Al-Yarubiyah to build commercial and service headquarters that support the movement of flows across the Syrian-Iraqi border, according to the Syrian news agency, SANA.

Alloush explained that the nature of the activities covered by the contracts varies to cover vital sectors, most notably trading operations in petroleum products and their derivatives, and manufacturing industries, in addition to establishing warehouses and transit shipping services, which provides an integrated operating environment to serve the transport fleet and businessmen.

Alloush stressed that these contracts come as part of a plan to transform the borders from mere crossing points into economic engines that attract capital, by linking Syrian seaports and outlets to the Iraqi and Gulf markets, and extending them towards the Turkish and European markets.