223 projects with a capital of SYP 55. 419 billion started production in 1st half of 2014

Damascus, SANA – Some 223 industrial and handicrafts productions projects and facilities have started production during the first half of 2014 with a total capital of SYP 55.419 billion.

The newly opened projects, which are spread in various provinces, have secured about 1,471 job opportunities.

A report by the Investment Department at the Ministry of Industry, which covered industrial investments by the private sector between January and June, showed that the new projects included 51 facilities in the chemical sector, 90 in the food sector, 18 in textile sector and 12 in the engineering sector.

The report pointed out that the number of licensed and implemented facilities according to Law no. 21 has reached 101 with a capital amounting to SYP 1.124 billion.

It clarified that Homs province has the biggest share of the facilities with 21 ones, 6 of which were built in the Industrial City of Hassia. Damascus Countryside came second with 19 facilities, including 9 in the Industrial City of Adra. 17 facilities were opened in Tartous, 14 in Lattakia, 12 in Sweida, 8 in Hama, 5 in Damascus and 5 in Aleppo.

The Investment Department said that there are 3 large investment projects implemented according to Law no. 8 for 2007 whose capital has exceeded SYP 54.277 billion.

One of those projects is an engineering facility with a SYP 50 billion capital which has already started production in the Industrial City of Hassia. Another facility with a SYP 4.2 billion kicked off in Hama in the food sector, while the third project opened in Sweida in the chemical sector with a capital of SYP 77 million.

As for handicrafts production projects, there are 117 which were implemented in the first half of the current year, providing 306 job opportunities. The invested capital amounted to SYP 170. 588 million.

Those projects included 47 in Tartous, 30 in Hama, 15 in Sweida, 13 in Homs, 5 in Aleppo, 3 in Lattakia and one in Idleb, Damascus Countryside, Hasaka and Quneitra, each.

As far as licensing is concerned, the industrial departments in the provinces gave licenses to 441 industrial projects and facilities with a capital of SYP 21. 360 billion with the prospect of creating 6698 job opportunities. Those included 128 food facilities, 166 others in the chemical sector, 39 in textile and 108 in the engineering sector.

Hala Zain/Haifa Said