Iran Khodro (38)


Since the end of last year, Syria’s eight car assembly plants have stopped producing because the government has stopped issuing the import licences required for their activities.


The Syrian Investment Agency has issued a licence for a new car assembly plant, while an Iranian-owned venture in the industry has reportedly suspended production.


Three new licenses for car assembly plants have been given to Syrian investors in the past few months, raising the potential number of these plants, including several that have been operating for years, to eight. Here is a breakdown of these projects.


One of Syria’s two Iranian-owned car assembly plants has announced that it was resuming its operations.


The imposition of new duty fees has disrupted Syria’s car assembly sector, which despite being very small had even started assembling Toyota cars.


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.


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.


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.


The table below lists the main car dealerhips in Syria.


Korean brands continued to hold a majority share of the Syrian car market in the first half of this year according to the state-owned General Foreign Trade Organisation.

The Syrian Government granted last month a new formal license to Aman, a joint Syrian-Iranian bank.

On July 5 we published a limited list of car dealers in Syria. You will see below a comprehensive list of Syria’s main car dealers with the brands they represent.

Khalil Sultan Al-Abed, the Syrian agent of Iran Khodro, the Iranian car manufacturer, was assassinated in Damascus on May 16, 2010.

The loan portfolio of the Popular Credit Bank rose by 11.8 percent at the end of last year, according to AbdelRazzak Hassani, Director-General.

The Syrian Government granted on September 30 a formal license to a new commercial bank, Aman.

SIVECO, one of Syria’s two car assembly companies, commissioned on July 3 a new production line at its plant based in the Industrial City of Hessia, some 50km south of Homs.


SIAMCO has expanded its car plant located in Adra, outside Damascus, to allow it to paint and assemble the body of its cars.


A joint Syrian-Iranian commercial bank that will be known as Banki, or “My bank”, has received a preliminary license from the Syrian Government.


The Commercial Bank of Syria and Bank Saderat of Iran, two institutions that are under US sanctions, are joining forces to set-up a joint bank in Syria.


Imports of Korean cars represented more than half of the total imports of cars into the local market, according to a report in a local newspaper.


Proton, a Malaysian car manufacturer, plans to triple its sales in Syria within the coming five years.


Hamisho Economic Group will begin production in its new car assembly plant in the last quarter of 2009, according to Imad Hamisho, Chairman of the Group.


Iran and Syria agreed to set-up a number of industrial projects in Syria during the 6-day meeting of the joint Industrial Committee concluded on September 12.


Syria's first car assembly plant opened on March 8, in the presence of President Bashar al-Assad and Iranian Vice-President Parviz Davoudi.


The Investment Bureau has awarded a license to Azarab Energy of Iran to build a 440 megawatts natural gas-run power plant in Hassakeh, in the northeast of Syria


The Ministry of Industry has given some hints as to the broad outlines of the reform of the state-owned industrial sector

Kamaz Inc., Russia’s largest truck manufacturer is planning to set-up an assembly plant in Syria.
Iran’s largest vehicle manufacturer, Iran Khodro Industrial Group (IK), will export 4,000 light and heavy vehicles to Syria by March 2006 when it plans to open the production line for its ‘Samand’ passenger car in the suburbs of Damas...
Good results from the larger steel and cables companies hide the poor performance of a number of smaller plants.
Syria and Iran are working on the establishment of a Free Trade Area between them.
KIA motors, the Korean car manufacturer is planning to establish a car manufacturing plant in Syria.
Construction works have started on the first car manufacturing plant ever to be built in Syria.
Saipa Corporation, an Iranian car manufacturing company has signed an agreement with a Syrian private firm, Hamish Co. to build a 15,000 car a year plant, according to the Iranian News Agency.

A joint private-public sector mineral oils refinery has been inaugurated and will produce over 200,000 barrels of mineral oils a year.

The Syrian authorities inaugurated earlier this month the first phase of the Damascus Petrochemical Refinery, the first private venture investment in that field.

The company, which is a joint Syrian-Iranian project, will refine the equivalent of 220,000 barrels of mineral oil products a year. Its production is expected to supply both the domestic and export markets.

Iran Khodro (IK), Iran's largest auto manufacturing company will build a 5,000 cars-a-year manufacturing plant in Syria, following an agreement in that sense signed during the Joint Syrian-Iranian Economic Commission held between February 14 and 16.
A number of investment ventures, if they get off the ground in the coming few months and years, will create what will amount to a small car manufacturing industry in Syria .