Syrian manufacturers who relocated abroad are banned from exporting their products back to Syria, according to Humam Al-Jazairi, the Minister of Economy.
A court is auctioning off the Syrian assets of Egypt’s ElSewedy Cables to repay debts the company owes to a local bank.
After a modest rebound in 2014, manufacturing investment seems to be falling again in Syria, according to some preliminary data.
More than two thirds of import licences granted by the Government cover manufacturing and agricultural inputs according to a government official.
Syria’s market for new cars remained depressed last year, according to preliminary data from the customs directorate.
The decrease in customs duties by the Syrian Government is being opposed by manufacturers of the textile sector who fear for their competitiveness.
The Government has allowed manufacturers to import used power generators to make up for the rising electricity shortages.
Syria’s chambers of industry have provided an update on the destruction of the manufacturing sector in the country.
The head of the Damascus Chamber of Industry has refuted claims made by a senior industrialist that most members on its board had relocated abroad in a dispute that highlights tensions among the Syrian business community.
The estimate of the losses of the state-owned industrial sector doubled in less than a year, according to official sources.
Two new industrial areas to accommodate manufacturing investments have been established in the coastal city of Lattakia by the Ministry of Local Administration.
The rebuilding of Syria’s manufacturing sector will cost billions of dollars and take up to twenty years according to a recent memo by the Ministry of Industry.
The Syrian Ministry of Industry has revised upwards the cost of the war on state-owned factories and companies.
In a trade fair organized in Beirut last week, Syrian garment exporters managed to clinch contracts worth dozens of millions of dollars.
Preliminary statistics from the ministry of industry show that at least 1,200 factories and plants from the private sector were destroyed in Syria’s main industrial centres in the last three years of conflict.


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