The imposition of new duty fees has disrupted Syria’s car assembly sector, which despite being very small had even started assembling Toyota cars.
Several hundred small workshops and factories have restarted operations in the industrial zone of Idlib, a local media has reported.
A German company is to restart the operations of a plant it operates in Syria after years of stoppage.
Data from the Ministry of Industry seem to confirm an increase in manufacturing investment, although most new projects remain very small in size.
The Syrian government has adopted several trade measures to encourage the textile industry, a major sector of activity in the country.
Egyptian President AbdulFattah Al-Sisi inaugurated last week near Cairo a large textile plant by one of Syria’s most prominent industrialists, who looks set never to return to his home country.
The combined number of cars assembled by Syria’s five car assembly plants reached a mere 499 cars in the first 11 months of the year, a reflection of the dismal situation of the market and of the purchasing power of the population.
The Ministry of Industry has reported an increase in the number of industrial concerns that began production this year.
Syria’s car assembly plants produced a combined 1,500 units so far this year, according to a local media.
Around half of Syria’s state-owned manufacturing companies are in such dire straits that they will likely never start operations again, an official report has found.
Elsewedy, an Egyptian industrial group, has changed the name of all its Syrian subsidiaries, in an apparent move to dissociate itself from Syria, which remains under western sanctions.
A report by the Ministry of Industry has confirmed the very fragile situation of Syria’s manufacturing sector.
A Syrian-Iranian car assembly plant has announced the launch of a new model for the local and export markets, a decision that seems part of the broader economic cooperation between the two countries.
An Egyptian official has said that his government is planning to establish an industrial zone dedicated to Syrian investors, potentially dashing any hope of a return of these investors to their home country.
While a Syrian company announced last week the beginning of production and sale of two new cars assembled locally, the Government still struggles to attract back manufacturers.