Strategic agreement to enhance the ports and logistics sector in Syria.

The General Authority for Land and Maritime Ports has announced the signing of a memorandum of understanding with DP World for $800 million, aiming to develop port infrastructure and logistics services in Syria.

The agreement includes extensive investments in the port of Tartous, involving the development, management, and operation of a multipurpose station, enhancing the port's efficiency and operational capacity to become a central hub for regional and international trade.

The memorandum also entails cooperation in establishing industrial zones and free zones, as well as setting up dry ports and cargo transit stations in strategic locations within Syria, reflecting both parties' commitment to enhancing economic development and facilitating trade and transportation.

The General Authority for Land and Maritime Ports emphasized that this step aligns with the Syrian government's vision to develop the transportation sector, logistics services, and attract direct foreign investments, aiming to contribute to reconstruction efforts and stimulate economic growth in the country.