The first low cost Arab air carrier has inaugurated its first flight to Damascus.
Syrianair has recently opened its fifth new office of the year in Sayyida Zeinab, in the outskirts of Damascus.
The national air carrier, Syrian Arab Airlines is expected to make a new order for six new Airbus aircrafts.
One of the most significant direct consequences of the landmark Law N°10, passed in 1991 to provide a more friendly environment to private sector investment, was the complete overhaul of the national transport sector.
Syria and the European Investment Bank (EIB), the EU financing institution, have signed the final agreement on the EUR 50 million loan from the EIB for the modernisation and development of the port of Tartous.
The Hijaz railway station, the historical station in the heart of the city of Damascus, will be refurbished following the award of a contract for that purpose by the Hijazi Railways Organisation (HRO).
Over 13 millions tons have been handled by Syria's two ports of Tartous and Lattakia in 2002, a record level.
Syria has signed a safe skies deal with all of Cyprus, Lebanon, Jordan and Egypt.
Syria has signed an agreement to borrow from the European Investment Bank (EIB) a EUR50 million loan to help the expansion and modernization of Tartous port, the country's largest port.
Makram Obeid, Minister of Transport, said that the capacity of Damascus Airport, currently of 2.5 million passengers a year, would be increased to 3.5 million in 2005, to 5 million in 2008 and to 10 million in 2010.
The Netherlands has provided Syria's Transportation Ministry with EUR2 million in grants to finance the purchase of seven ships which will join Syria's fleet.
Al Sham, one the largest shipping companies in Syria, announced the launch of its second multipurpose container (MPC) vessel, Ramitha, during the meeting of its newly elected Board of Directors on November 16.
Syrianair has reported pre-tax profits of SYP352.5 million (USD6.78 million) in the first half of this year out of a total turnover of SYP6.8 billion (USD130 million).
Mahmoud al-Agha, Director General of the Tartous Port Co, announced a surge of over 77 percent in the volume handled by the port in the first 10 months of the year, according to Al Baath, the state-owned daily.
The transport sector continues to benefit from the favours of Syria's economic decision makers.
2nd International Finance Markets Investment Forum 2011
Sheraton Hotel Aleppo
6th Damascus Insurance Forum
Four Seasons Hotel