National Social Aid Fund has financed 1743 small and micro-sized enterprises since 2018

Since its establishment in 2018, the National Social Aid Fund has funded 1743 small and micro-sized enterprises within the framework of the program for supporting and empowering the Syrian countryside.

Louai al-Aranji, Director of the Fund told SANA economic bulletin that the total value of funding these enterprises is more than 1.8 billion Syrian pounds.

According to al-Aranji,  funding is done through loans obtained from the branches of the Cooperative Agricultural Bank in all the Syrian provinces. The fund pays 4% of the loan's interest while the owner of the project pays 6%.

He went on to say that the program for supporting and empowering the Syrian countryside was expanded to include loans for supporting and empowering the military personnel who ended their military service within the framework of a program launched by the cabinet last February. This program grants each interested person 35,000 Syrian pounds monthly for a year and it also funds small and micro-sized enterprises.

Ministry of Industry: Production value increases by about 80 billion SP

The total value of production for the public Industrial establishments has risen to 318.9 billion Syrian pounds from the beginning of 2019 till the end of November, exceeding last year's value by about 79.8 billion Syrian Pounds.

The production report released by the Ministry of Industry showed that the eight establishments affiliated to the ministry have achieved a sales value estimated at 244 billion Syrian Pounds during eleven months with an increase estimated at 22 billion SP over last year's value.

The ministry said that these positive results were the outcome of the workers' strenuous efforts and their insistence to increase production in implementation of the plan put forward by the Ministry.

Meanwhile, about 4185 industrial facilities returned to production in Homs after a long period of halt because of the devastation caused by the armed terrorist groups.

Director of Industry in Homs Bassam al-Sa'ed said that about 203 facilities were authorized this year including an investment project with a capital estimated at 5.5 billion Syrian Pounds, ensuring more than 6000 job opportunities.


Syria, Democratic Korea conclude activities of the joint committee, sign protocol for economic, technical, trade and scientific cooperation

DAMASCUS, (ST)- The 11th session of the  Syrian-Korean  Joint Economic Committee  concluded  its activities Wednesday evening at the Dama Rose Hotel in Damascus signing a protocol for economic, scientific, technical and trade cooperation.

The protocol was signed on the Syrian side by the Finance Minister  Mamoun Hamdan and by Minister of External Economic Relations of the Democratic People’s Republic of Korea (DPRK) Kim Yong-Jae for the Democratic Korean side.

 The two sides also signed an agreement of cooperation on labor and employment and social care and a memorandum of understanding for cooperation in the field of fish wealth in addition to an executive program on higher education for the years 2020, 2021, and 2022.

Syria, DPRK discuss enhancing economic cooperation

DAMASCUS, (ST)- Prime Minister Imad Khamis and the Minister of External Economic Relations of the Democratic People’s Republic of Korea (DPRK) Kim Yong-Jae discussed during a meeting on Tuesday bilateral ties between Syria and Democratic Korea and the work of the currently held joint economic committee for cooperation.   

The two sides focused on the need to intensify joint work to boost cooperation in the fields of economy, trade, investment, transport, infrastructure, reconstruction, higher education and public works.

The premier thanked the DPRK for supporting Syria in its war on terrorism and its effort to rebuild what terrorism has destroyed.

He pointed out that the joint economic committee is discussing consolidating cooperation and means of confronting the unilateral coercive measures imposed on Syria.

Syria, Democratic Korea hold meetings of the joint economic committee

DAMASCUS, (ST)- The 11th session of the Syrian-Korean economic Committee started its activities Saturday evening in Damascus with the purpose of enhancing economic cooperation and discussing the agreements and memorandums of understanding due to be concluded by Syria and the Democratic People's Republic of Korea (DPRK).

Head of the committee for the Syrian side, Finance Minister Mamoun Hamdan, said in a statement during the meeting that Syria is currently reconstructing what terrorism has destroyed, stressing that friendly countries, which supported Syria, will be given priority in contributing to the process of reconstruction. He pointed out that Democratic Korea has been one of Syria's friends that backed its causes.