New Investments in Adra Industrial City

DAMASCUS, (ST) - Director of the Industrial City in Adra, Eng. Ziad Baddour, pointed out that the suitable investment environment in the city of Adra led to an increase in productivity during the current year in comparison with the years 2012 and 2013. Approving new laws, granting encouraging and supportive facilities, as well as the availability of local and expert labor led to revitalize the movement of marketing and disposal of production.


"The year 2013 has witnessed an increase in production due to the facilities granted to the industrialists, especially those whose facilities were damaged outside the industrial city because of the situation taking place in the country. Those industrialists were provided by land to build their industrial facilities which are equipped with full services and installments for 10 years," Eng. Baddour added.

 "Other facilities also were granted regarding the sale of the old installations in addition to 40 locations allocated to new industries in the sectors of food, textile, packaging and engineering," Eng. Baddour continued.

"The first quarter of this year achieved an increase in the movement of factories in comparison with the years 2011 and 2012. The most important reasons are the change and adjustment in the investment system and providing many facilities such as reducing the amount of the first installment of 33 percent to 15 percent for the establishment of investment, increasing the duration of installments of 5 years to 10 years and reducing the rate of increase of premiums from 5 percent to 3 percent," Eng. Baddour clarified.

"Under the new investment system, the rate of insurance has been reduced from 4 percent to 2 percent of the value of the location. The period of the license, starting the construction increased to one year instead of 6 months and the period of validity of the building permit increased to 3 years instead of two years and can be increased to 5 years," Een. Baddour stated.

He emphasized that these facilities granted to the existing and new industries in the industrial city aims to increase investments, move the domestic capital, ensure local industry depends on local resources, and ensure products for export.

He added that the most important thing is to absorb unemployment significantly, where the industrial sector is one of the real sectors of the economy, especially in crises where they attracted more labor to reach new employment opportunities in the city for more than 48 thousand jobs.

"The center of the fuel, which was established in the industrial city, began to work and to provide the factories and facilities with fuel according to monthly lists that monitor the city needs," Eng. Baddour said.

 
He pointed out that the embargo imposed on the country had had a negative impact on the work in the city. The difficulty in bringing the needed raw materials for production and the difficulty in the movement of freight and its high costs obliged the government to go to new markets. The destination was to Latin America such as Brazil and Argentina and to the markets in Asia such as India, Iran, China and Malaysia in addition to Russia. The goal is to attract raw materials for local industries; in return, more attention was given to the new markets in Africa, Latin America and Asia for marketing local products.

He added that marketing is suffering from internal difficulties because of the current situation and disrupted the movement of trains bringing the cost of marketing and disposal that had an impact on the amount of production that increases and decreases and sometimes stops temporarily due to the movement of marketing and disposal.

"Some 380 industrial facilities were operating in the city in 2012 and currently about 500 facilities are operating, explaining that this increase in productivity resulting from an increase in the productivity of certain industries such as food installations, which increased 100 percent, while 50 percent of installations of building materials are ceased working," Eng. Baddour added.

"The investment plan for the year 2013 is currently being carried out amounting to approximately 1,500 million Syrian Pounds including infrastructure projects to complete the sites for some new plants, maintenance and replacement of old projects in order to maintain full readiness of infrastructure services for the city," Eng. Baddour pointed out.

In the framework of an integrated national action to contain those affected citizens by the current situation, Eng. Baddour explained that in coordination with the Ministry of Local Administration some 1200 housing apartments in the industrial city of Adra will be constructed as a shelter free of charge to be in favor of the city after the end of the crisis.

It is worthy mentioning, that four industrial cities were created in Syria, three of them under the Legislative Decree No. 57 of 2004 including the city of Adra in the countryside of Damascus, Hesya in the governorate of Homs and Sheikh Najjar in the governorate of Aleppo as another decree issued to set up the industrial city of Deir Ezzour in 2007.

These cities include sites dedicated to various types of industrial activities. They are divided into several small, medium and large levels to accommodate the large Arab, foreign and local investments as some events have been moved from the cities and urban centers, residential areas and green areas to the cities through modern organization and studied from environmental aspect where these cities are environmentally friendly cities.

Sh. al -Khatib

Promising cereal production in 2013

(ST) - Strong growth is expected for global wheat, coarse grains and rice production in 2013, according to early forecasts published by FAO's monthly Cereals Supply and Demand Brief.

Assuming more normal weather conditions than in 2012, global wheat production in 2013 is expected to reach 695 million tones, 5.4 percent up from last year's harvest and just some 6 million tones short of the 2011 record level.

 Moreover, in 2013, coarse grains production is expected to set a new record at 1266 million tones - 9.3 percent up on the previous high of 1167 million tones registered in 2011.

 Of this total, maize is forecast to account for about 960 million tones, some 10 percent up from 2012. The bulk of the increase is expected in the United States, the world's largest producer, where maize plantings are forecast to reach their highest level since 1936. Recovery from drought in the major CIS producing countries should also contribute significantly to the record global production.

 Still tentatively, FAO foresees rice production in the forthcoming 2013 season to rise to 497.7 million tones, 16 million tones more than in 2012, with particularly large increases expected in India and Indonesia.

 

Despite the expected production increases, world cereal utilization is expected to stagnate in 2012/2013, constrained by rising grain prices and faltering ethanol demand. Global cereal utilization is now forecast to be 2332 million tones, roughly unchanged from the 2011/2012 level.

World cereal stocks by the close of seasons ending in 2013 are forecast at 505 million tons, up 1 percent (5 million tons) from the previous forecast, but some 3 percent (16 million tons) below their opening levels.

A sharp fall in world cereal trade is expected in 2012/2013, involving all major cereals. At 304.4 million tones, it would be almost 1 million tones larger than forecast last month, but still representing a decline of about 4 percent (13 million tons) from 2011/2012.

Sh. Kh.

National economy strong, balanced, Says al-Halqi

Damascus, (ST) – Prime Minister Wael al-Halqi dubbed the  national economy as  strong and balanced and could adapt  to the complications and developments of the crisis in Syria through a series of decisions and steps taken by the government in order to cope with the ongoing developments.

Addressing the People's Assembly on Wednesday, al-Halqi said that the Syrian Pound is currently under unprecedented attack launched by some Arab-linked media .

"By doing so, They (some Arab countries) are aiming at diverting  the  citizens and businessmen's destination away from the Syrian pound, "underscored al-Halqi.

"However, the government has taken several steps to boost citizens' confidence in commerce and the Syrian Pound and to unveil the nature of this media and economic war which is accompanied by spreading rumors, "added al-Halqi.

The Prime Minister made it  clear that the said  measures  strongly contributed in boosting the  citizens' confidence in the national economy and consequently foiled all attempts to undermine trust in the government's economic steps .

"the homeland and citizen's security is the government's top priority .Hence, Syria is firmly going forward as regards fighting terrorism backed by Arab, regional and international powers, "asserted al-Halqi.

He also hailed  the role of the Army and Armed Forces and security forces in combating terrorism and restoring security nationwide.

"the army and armed forces and the security forces  are the sole guarantee of the country's unity and safety, "concluded al-Halqi.

R.Sawas

Syrian –Iraqi Banking Cooperation

(ST) - In support of the promotion of economic and trade relations with Iraq, the Governor of the Central Bank of Syria (CBS), Adib Mayaleh, addressed a letter to the government in which he explained the confirmation of the Islamic Cooperation Bank of Iraqi Investment request of the need to open a branch in the city of Damascus. 


 Because of the features expected to be achieved through the establishment of this section and of trade facilities and dealing with the issue of export of Syrian oil and providing necessary oil derivatives and thus the Governor of the Central Bank of Syria suggested setting up a branch of the bank in the form of a Syrian joint stock company under a special legislative decree.

Accordingly, the completion of the process of making the bank guarantees finding Syrian – Iraqi banking cooperation because it will become one of the private banks operating within the banking sector in Syria, so there is nothing to prevent the Islamic Cooperation Bank of Investment from work to find channels of cooperation with banks operating in Syria through correspondents in abroad and opening accounts in these banks, according to banking norms in force in this field. 

Sh. al -Khatib.

Syria 's Economic, finance Cooperation with India, Russia Highlighted

MOSCOW, (ST)  _Finance Minister Dr Ismail Ismail  discussed with his Russian counterpart Anton Saloanov financial cooperation relations between the two countries and the need to accomplish what was agreed upon regarding the Russian aid to the Syrian economy, particularly deposits and bank loans.

During a  meeting on the sidelines of the first day of the activities of the St. Petersburg Global Economic Forum, minister Ismail stressed the  need to strengthen bilateral financial and economic cooperation up  to the level of the distinguished political relations between the two countries.

During his meeting with  the Indian Commerce Minister Anand Sharma minister Ismail expressed thanks to the positions of India 's  government and people  and G-Brix  concerning events taking place in Syria, stressing the importance of supporting Syria by her friends to enhance the Syrian economy.

 

The minister pointed out that the Indian government can support the Syrian economy through providing  banking facilities and open accounts to facilitate trade between the two countries.

For his part, Minister Sharma said he would discuss the proposals with his country 's  government and the central bank.

Syria's Ambassador in Moscow Riad Haddad warned that certain sides in the West  are betting on the fall of Syria because of the economy and this is what should not be allowed by her friends.

In a statement to  reporters, minister Ismail described St. Petersburg World Economic forum  as "deep ,extensive and an opportunity for new ideas and concerns, which revolve in the minds of the international economic community on current economic  issues, during which  Russia 's growing role was highlighted , noting that discussions showed the importance of the application of the Basel banking standards and the role of capital markets in planning  investments.

Works of the 17th world economic forum  were held  in St. Petersburg Russian  in the presence of more than five thousand political figures, businessmen and experts, including 190 heads of major foreign companies and 428 heads of Russian companies.

In his speech at the forum, Russian President Vladimir Putin called for not to underestimating  the issue of supplying arms to Syria, stressing that "Russia exported arms to the legitimate government in Syria and in accordance with the agreements transparent In the framework of international laws and commitments.

 

T. Fateh