Investment Volume in Industrial Cities Tops SP 535 Billion

Damascus, (SANA) – Director of the Industrial Cities, Eng. Akram al –Hassan, stated that the volume of investment in the industrial cities reached 535 billion Syrian Pounds (SP) while the total volume of work performed with respect to infrastructure reached 30 billion pounds, stressing that investors’ appetite for the subscription  increased by about 50 percent after the issuance of the decision to amend the investment system.

 Eng. al -Hassan said in a statement that the city of Adra ranks the first place in terms of investors’ appetite for subscription which increased by more than 50 percent compared with the previous years, whereas the rate of investment in the city reached to 90 percent, pointing out the cessation of some plants (15 percent) in the city of Adra as a result of current conditions while the number of plants that are ongoing in production is 650.

Concerning the ratio of investment in the industrial city of Hesya, Eng. al –Hassan clarified that the rate of investments amounted to 50 percent with 116 plants, including 70 plants in production, pointing out that some plants operate around the clock and some are working 8 hours and others work for one day and stop two days depending on the circumstances.

He stressed that the investors who are still on top of their work in the town of Sheikh Najjar in Aleppo does not exceed 10 percent, noting that the city was including 850 plants, including 100 plant only in production, while there are four plants in production in the city of Deir ez-Zor including 6 plants produce milk, cheese, pastries, feed and PVC pipe. He  explained that investments in the city of Deir ez-Zor was troubled from the start and current events made the situation more worse.

Regarding the new industrial zones, the director of the cities confirmed that the decisions of creation issued by the ministry for three areas including Um al –Zeitoun in Sweida Governorate, Tal Kalkh in Homs and Al –Roweiha in Idleb.

 The Ministry of Local Administration has issued amendments to the system of creation and investment of industrial zones provided to allow the opening of a special budget of each region and the formation of a committee comprising representatives of the concerned bodies for the creation of industrial zones, investors and giving more flexibility in the mechanism of the subscription.

Sh. Kh.