Syrian Investment Agency licenses a new industrial project, the first of its kind in Syria

Economy

The Syrian Investment Agency (SIA) has given an investment license to a project for manufacturing all kinds of chargers, tablets, charger extensions, speakers, power banks and power inverters at Adra Industrial City in Damascus Countryside.

According to the Director of the SIA Midyan Diyab, the project is the first of its kind in Syria and it is expected to cost 17.5 billion Syrian pounds and ensure 300 job opportunities.

The project aims at localizing this kind of industry in order to meet the needs of the local market and reduce dependence on imports, he clarified.

The number of licensed projects according to Investment Law No. 18, which was issued in May, 2021, has reached 31 with a cost of 1.3 trillion Syrian pounds. These projects cover different domains including food, chemicals, renewable energy, medicines, textiles and services and they are to create some 2575 job opportunities.

Hamda Mustafa

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