The Syrian government is planning to award major projects in the tobacco and steel sectors to private companies in a bid to win badly needed investment amid a lack of government funds.

Tehran plans to launch a direct shipping line with Syria in March, according to Iranian media, in a further sign of Iran’s efforts to expand its economic influence in the country.

Steel and aluminium trading; contracting

The list below includes the names of all the individuals that have been blacklisted by the European Union since the beginning of the Syrian uprising in March 2011.

Syrian President Bashar Al-Assad has ratified an amendment to an Iranian credit line worth USD 1 billion, removing the final barriers to the long-delayed deal and further cementing Tehran’s economic and political influence in the country.

Security patrols arrested dozens of young men in the town of Babila south of Damascus earlier this month under the pretext of searching for opposition sleeper cells and drug dealers, according to pro-opposition news site Sowt Al-Asimeh. Out of dozens of arrests, 12 targeted Palestinian men displaced from the neighbouring city of Al-Hajjar Al-Aswad. The 12 men were likely targeted for arrest deliberately, after they reportedly underwent security checks as part of their applications to return to their homes in Al-Hajjar Al-Aswad.

The government has increased the price of portland cement to close the gap with its black market rate, while construction costs as a whole are continuing to rise.

The prices of building materials in the local market have been extremely volatile over the past two months because of the ups and downs of the currency rate and higher tariffs. The fluctuations are almost certain to curb construction activity.

This article is an updated and expanded factsheet on the economic and business relations between Syria and Iran as of June 2020.

This article is an updated and expanded factsheet on the economic and business relations between Syria and Russia as of April 2020.

Updated on September 28: In this 4,400-word factsheet, we provide a profile of the main businesses and economic institutions affiliated with the Syrian Ministry of Defence.

The list below includes the names of all the Syrian entities that have been blacklisted by the European Union since the beginning of the uprising in March 2011.

A delegation from India’s Tata Group visited Damascus in December, a rare case of a multinational company looking for business opportunities in Syria.

Syria has awarded a Russian company a new offshore oil exploration contract as part of a set of new investment and trade agreements between the two countries.

The government has increased tariffs on some steel products, a decision that seems to have been motivated by pressures from influential businessmen.

The Katerji brothers are negotiating to expand their investments in Aleppo, confirming that they have become the main business actors in Syria’s second largest city.

Iron rolls; metal smelting; extrusion of iron sheets and metal pipes

The Syrian government has appointed among its representatives to the UN-led constitutional committee one of the country’s most influential business cronies.

A delegation from an Indian company visited Damascus this week with a view to restart construction works on a power plant.

The Syrian minister of transport has given more details on the Tartous deal with Russia, partly to deflect strong criticism coming from loyalists.

The government has decided to stop issuing new licenses for the establishment of iron and steel plants.

Aman Holding has reportedly significantly raised its capital as it seeks to fund its expanding business.

Samer Foz has announced the set-up of a new project in the coastal area.

Smelting and manufacturing of metal products; Formation and Manufacturing of Pipes

The Government’s plans to spend on investment projects are falling short because of a continuous shortage of cash, the recent example of a serum production plant shows.

Syria’s steel industry is struggling to increase production as demand remains low and limited construction works take place in the country.

This table highlights key indicators on Syria's steel industry.

Samer Foz, Syria’s most prominent businessman in past years, has expanded his business activities by buying a significant stake in the country’s largest private sector bank.

A Syrian court has reportedly discharged a freezing order on the assets of a prominent Syrian investor.

A pharmaceutical plant producing medicines for the treatment of cancer and owned by a prominent investor is set to start operating near Damascus in the next few weeks.

Trade of building materials, steel products, electric equipment and heavy machinery for cement and steel plants

The Syrian regime is clamping down on Ayman Jaber, one of Syria’s most prominent warlords and a long-time business partner of the Assad family.

A Syrian investor, despite being a close associate of Samer Foz, has seen his assets frozen by the Syrian government for the second time in the space of five years.

In this 2,300-word factsheet we provide a profile of Samer Foz, who in the space of the past two years has risen to become Syria’s most powerful investor.

In Raqqa, Deir-ez-Zor and other areas under SDF control, local councils continue to announce on a regular basis the rehabilitation of infrastructure and various new development projects.

The text regulating the registration and protection of trademarks and industrial designs.

The Raqqa Civil Council has announced a set of new projects to improve living conditions and economic activity in the northeast.

Damascus’ landmark Four Seasons Hotel is now the property of one of the country’s most powerful businessmen.

The Raqqa Civil Council has announced the construction of a new bridge over the Euphrates that will reduce significantly transport times.

The demand for steel and cement in Syria is too low to justify any new investment in this sector, government officials have said.

The text of the framework law enabling expropriation by the Government.

The Raqqa Civil Council has announced several new economic initiatives as it strives to restore normal life in the city.