Syria to import car components for local assembly and to move to electric car industry

DAMASCUS, May.31, (ST)- Prime Minister Hussein Arnous approved on Tuesday the recommendation of the Economic Committee, which included supporting the proposals of the Ministry of Economy and Foreign Trade of allowing car assembly companies, which are licensed according to the three halls system and companies that obtained an investment license on the basis of three halls, to import car assembly components of all kinds according to the CKD system.

 

The conditions and rules provide for giving a maximum period of one year to these companies to move to assembling electric car components, due to its economic feasibility in the future, and that the Ministry of Industry do not give any new license to any additional company wishing to manufacture car components in the current period.

 

Director-General of the General Organization for Engineering Industries, Abdullah Nehme, confirmed that the recommendation reflects the keenness to restart the  factories due to the good economic revenue they achieve, the employment of people, and the raising of the local added value for the benefit of the national economy through the establishment of factories for manufacturing auto supplies instead of importing some components or spare parts for cars, which constitutes a significant part of the import.

 

“The great benefit that will be reflected on the Syrian-Iranian company for the manufacture of cars (Siamco), which is affiliated to the partner engineering institution and on other car assembly companies, in addition to that this will lead to the reduction of car prices in the local market due to the presence of new production in the market,” he added. 

 

Basma Qaddour