Global Arab Network | Syria: Investments Increased by 87.5 % in First Quarter of 2010

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Syria: Investments Increased by 87.5 % in First Quarter of 2010

Global Arab Network - - George Haddad

Wednesday, 14 April 2010 14:22

Projects listed by the Syrian Investment Agency during the first quarter of 2010 amounted to 105, compared to 56 during the same period in 2009, marking an increase of 87.5 %.

The increase was primarily in the industrial sector, with 30 projects compared to seven in 2009, marking a 328.6 % increase, followed by the transport sector with 40 projects compared to 21, or a 90.48 % increase. Industrial projects amounted to 32 compared to 26 with an increase of 23 %.

Estimated costs of these projects amount to SP 12.5 billion (USD 271 million) , with the overall estimated cost of industrial projects amounting to SP 5.780 billion. The cost of transport projects are estimated at SP 4.260 billion, while agricultural projects are estimated at around SP 1.710 billion, in addition to three other projects for television production, services and quarries with an estimated cost of SP 750 million.

The projects aim at the production of white cement, solar heating equipment, medicinal drugs including cancer medication, petroleum services, services to quarries and irrigation systems, in addition to various transport projects.

Among the Syrian governorates, Aleppo has the biggest share with 22 projects, followed by Deir Ezzor with 19, Raqqah 12, Damascus Countryside 11, Damascus and Daraa with 9 each, Idleb with 5, Hasaka and Suwaidaa 4 each, Lattakia 3, Homs and Tartous with 2 each, and Hama and Quneitra 1 each. (SANA)

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