Syria Signs Deal With DP World to Improve Tartous Port with $800 Million Investment
Syria has made an agreement with DP World to improve Tartous port. They plan to spend about $800 million on this project, according to a report from Syria’s official news agency SANA, shared by Reuters on Friday.
Port Development
A new deal has been made to develop the port of a country that has been facing many problems. This deal happened after the United States decided to remove the sanctions it had placed on the country’s government. Because of this, more foreign companies can now invest money into the country.
It is said that former US President Donald Trump chose to lift the sanctions after having talks with two important leaders. These leaders are Saudi Arabia’s Crown Prince Mohammed bin Salman and Turkey’s President Tayyip Erdogan. Both of them asked Trump strongly to remove the sanctions.
As part of the deal, a company called DP World will help with many tasks. They will work on building, managing, and running the new terminal at the port in a city named Tartous. This terminal will be used for many purposes, such as handling different types of goods and ships.
DP World will also help set up industrial zones and free trade zones near the port. These zones will allow businesses to grow and trade more easily. The industrial zones will be areas where factories and factories can operate, creating jobs and boosting the economy. The free trade zones will have fewer taxes and rules, so companies can do business more freely and quickly.
This development is very important for the country because the port will bring more business and money. It will help the country recover from its current crisis by creating jobs and attracting foreign investment. The new trade zones will also encourage more companies to work there, which will help the country grow stronger.
Overall, the deal marks a hopeful step toward better economic future for the country, with more cooperation from international partners.
Published: 17th May 2025
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