Logo Wide

896 Billion Pounds of Investment Attracted in 2018

It is believed that the investment secured in 2018 will create over 7,000 new jobs across a variety of different sectors reports Damas Post.
896 Billion Pounds of Investment Attracted in 2018

The Syrian Investment Authority attracted 102 projects during 2018, with a combined estimated value of 895 billion Syrian pounds, which will create 7,959 jobs.

The Authority’s report, in which it monitored work through 2018, said that 34 projects with a capital of 10 billion pounds had taken serious steps towards implementation and had obtained licenses with executive steps taken on the ground, in addition to 27 projects that had been licensed in the same year.

The Authority said that three projects had been implemented with capital of 1.14 billion pounds, creating 800 jobs. These were: A project for human medicine and serums in Lattakia province with a capital of 694 million pounds; a project to manufacture overhead cranes valued at 370 million pounds, and a project to make various types of conserves and tomato paste at a value of 80 million pounds.

The Authority said that during the year, 62 investment opportunities had been prepared with an estimated value of 6.7 billion Syrian pounds, including 43 projects in the manufacturing sector, seven in extractive industries, six in construction, three in the electricity sector, three in the agricultural sector, and one in the transport sector. It added that there had been 13 investment opportunities provided for projects in the industrial cities and 26 pending projects that needed funding during the Banking, Finance and Insurance Forum, which was held at the end of December with the aim of granting additional benefits and securing the needs for transforming them into active projects.

This article was translated and edited by The Syrian Observer. Responsibility for the information and views set out in this article lies entirely with the author.

Helpful keywords