Industry Minister, Arab-Chinese Association Discuss Investment Cooperation

Damascus, (ST)- Minister of Industry Ahmed Al-Hamo discussed here yesterday with the delegation of the Arab-Chinese Association the investment opportunities available in the industrial sector to Chinese companies wishing to work and invest in Syria and participate in the rehabilitation of companies and industrial establishments that were damaged in the current crisis.

The Minister reviewed with the guest delegation the areas in which Chinese companies can invest in, which are concentrated in the fields of cement, glass, sandblasting, basalt, photovoltaic production, renewable energy industries, investment in raw materials available in Syria, food and pharmaceutical industries.

 He pointed out that agreements, understandings and contracts will be signed with many Chinese companies.

He pointed out that the participation of Chinese companies in the process of promoting the industrial sector in Syria is welcome, indicating the existence of legislative frameworks governing the investment process and guarantee the rights of investors in addition to facilities and exemptions provided by the government according to the specificity of each project.

He pointed to the importance of the Association to convey the real picture and the reality of investment and investment opportunities in the industrial sector of many Chinese companies and act as a mediator in overcoming the obstacles that may arise in all stages of joint work between Syrian companies and their Chinese counterparts.

For his part, the head of the delegation of the Arab Chinese Association Shen Yong, stressed the interest of Chinese companies to enter new investments and keen to contribute to the developing of the industrial sector in Syria, pointing out that the Association has strong relations with 200 companies from the largest Chinese companies, which carries out projects at a high level.

"It is important to promote this conference by the Syrian government and submit lists of projects and investment opportunities in all sectors, incentives and facilities in order to push Chinese companies to attract investment in Syria," Yong said.

For his part, the Secretary of the Association Chen Shen Chui said the main objective of this visit is to convey the true image of Chinese companies on the investment opportunities available in Syria and provide lists of projects and investment guarantees and policies of support and material facilities and other incentives to attract Chinese companies to work in Syria and help in the reconstruction phase in all Areas.

The meeting was attended by Deputy Minister of Industry Dr. Jamal Al-Omar and members of the delegation, Director of the Business Center Yang Daolin and Zu Mo.

On Saturday, Minister of Finance Dr. Mamoun Hamdan, Chairman of the Syrian-Chinese Joint Committee, discussed here yesterday with the Arab-Chinese Association delegation, headed by Shen Yong, areas of cooperation in the reconstruction phase.

Dr. Hamdan stressed the depth  of the Syrian-Chinese relations, pointing to the various aspects of cooperation between Syrian and Chinese companies  and the good reputation gained by Chinese products in all fields.

On behalf of the Syrian government, Dr.  Hamdan welcomed the Chinese companies wishing to invest in Syria, pointing out the laws and legislations issued by the government that would encourage investors to work in Syria, especially those related to exemptions from fees that include industrial machinery and raw materials for industry.

Dr. Hamdan highlighted the various fields of investment in the Syrian economy in the domins of industry, agriculture and trade. He said that this diversity can generate areas for joint cooperation with Chinese companies, especially that some Syrian industrial establishments have been established in cooperation with Chinese companies.

For his part, the head of the Chinese delegation said that he would convey a true picture of his view of the situation in Syria to Chinese companies looking to invest in Syria, pointing out that the Chinese side aspires to participate in the Damascus International Fair in its next session effectively, pointing out that one of the objectives of the delegation's visit is to convey a clear picture of the situation in Syria for Chinese companies wishing to work in Syria.

For his part, the Secretary of the Association Chen Shen Khoi said that the diversification of the Syrian economy opens up multiple prospects for cooperation with Chinese companies and that many Syrian products can find a way to the Chinese market, noting the importance of reaching a collection of projects that can be worked on by the Syrian side with those who wish Investment from the Chinese side.

The Chinese delegation will discuss several issues with some ministers, chambers of commerce, industry and exporters to reach concrete results for the visit in order to start real and fruitful cooperation with the Syrian government during the next phase.

The meeting was attended by the Director of the Business Center Yang Daolin and Wozo Moe from the Association’s Bureau and Director of International Cooperation in the Ministry.

Sh. Kh.