Syria has signed a 20-year memorandum of understanding (MoU) with Chinese company Fidi Contracting to invest in free zones, announced by Syria’s General Authority for Land and Maritime Ports on platform X.
The agreement grants Fidi full operational rights over the Hessia free zone in Homs, covering 850,000 square meters for industrial development, along with rights to invest in 300,000 square meters of the Adra free zone near Damascus, focusing on commercial and service products.
The project includes specialized factories and production facilities aiming to revitalize Syria’s industrial capacity and attract foreign direct investment.
The agreement outlines a phased development plan with a fixed timetable to ensure timely delivery and economic feasibility, according to the authority.
The deal is expected to bring significant improvements to infrastructure in the targeted free zones, enhance industrial and commercial activity, and boost Syria’s role as a regional logistics and transport hub.
Furthermore, the deal will help create new jobs, encourage technology transfer, and increase trade through Syria’s land and sea ports.
Separately, Syria recently signed an MoU with Dubai-owned DP World to develop the Tartous port with an estimated $800 million investment. These agreements come as US and EU sanctions on Syria are easing, following US President’s announcement during his Middle East tour to lift all sanctions on Syria—a major policy shift.
