The Syrian Investment Agency, a body licensing and regulating mostly large investments in the manufacturing, agriculture and transport sectors, gave the go ahead to 33 projects in the first half of 2015.
The Syrian authorities are continuing to issue legislation targeted at both raising fiscal revenues and encouraging some business sectors.
Import and export of various products
Syria continues to import crude oil from Iran at a regular pace, data from the International Energy Agency show.
After declining last year, Syria’s almond production, which is among the world’s five largest, is expected to pick up in 2015, according to a government official, although it will remain well below its historical averages.
The fighting between government forces and ISIS in the area of Palmyra is continuing to disrupt oil and gas production and distribution.
Al-Baraka Bank Syria, an Islamic lender, opened on May 28 a branch in Tartous, the bank’s second in less than six months in the coastal area.
Syrian manufacturers who relocated abroad are banned from exporting their products back to Syria, according to Humam Al-Jazairi, the Minister of Economy.
Syria has issued a tender inviting international companies to use spare capacity at its two refineries in Homs and Banias.
Production in Syria’s most important gas fields is unaffected by the recent onslaught of ISIS on Palmyra, the Syrian Minister of Oil said.
Manufacturing of cardboard, carton boxes, napkins, towels, glass, and plastic floors and ceilings.
The Syrian government lost today control of two important gas fields near Palmyra, according to a monitoring group.
Real estate development
Syria has issued the second tender within a week for the construction of a wind power park as funding constraints give a comparative advantage to Iranian companies.
Issam Anbouba, a prominent Syrian businessman, has seen his appeal to lift the sanctions imposed on him by the European Council rejected.
Syria’s production of crude oil averaged 9,500 barrels a day in the first quarter of this year, according to official data.
The state electricity utility has issued a tender for the construction of a wind power park
Trading and manufacturing
Production and trade of dairy products
The European Union has blacklisted several new Syria-related companies and individuals, including two Iran-related businessmen and another involved last year in the negotiations to release abducted nuns as well as in dealings between the regime and ISIS.
Hundreds of historical sites in Syria have been damaged during the conflict, according to a Government official, a fifth of which are in Aleppo.
The number of companies registered in Syria by the end of last year was slightly above 500,000 according to data from the Ministry of Economy.
The text of U.N. Security Council resolution 2199 (2015) adopted on February 12, 2015, requiring Member States to take steps to prevent terrorist groups in Iraq and Syria from benefiting from trade in oil, antiquities and hostages, and from receiving donations.
Al-Ahliah Transport, a listed passenger transport company, has reported an increase in sales and profits last year.
Syria’s oil output continued to decline last year as production now stands at some 2.5 percent of its pre-uprising level.
Syria expects its production and export of olives and olive oil, a major crop in the country, to increase again this year.
The Syrian Company for Grapes Processing, a state entity producing alcoholic drinks, has reported a lacklustre sales performance in 2014.
The English transcript of the interview of Syrian President Bashar Al-Assad with Foreign Affairs magazine on January 26, 2015.
A Russian company is starting works on a 600-ton flourmill near the town of TalKalakh.
The Syrian government has established a university in Tartous, the seventh such institution to be established in the country.
The Syrian government has liberalised the price of gas oil for one additional category of users, creating more confusion in the market.
The English transcript of the interview of Syrian President Bashar Al-Assad with Paris Match magazine on December 04, 2014.
In an unprecedented move, the Syrian Government has offered to use its two refineries to process crude oil for private investors, as it seeks to meet rising shortages of oil products.
Trading of pharmaceutical products
Syria’s Kurdish regions are producing an average of 40,000 barrels of crude oil per day, according to a report in the Wall Street Journal.
Operations are steadily resuming at gas fields and processing plants located in central parts of Syria after government forces took them back from ISIS.
Syrian exports partly recovered during the first three quarters of this year, while Iran has become the country’s first supplier of goods, official data show.
The few large private sector investments still being established in Syria remain concentrated in the coastal area and around Damascus, data from a licensing body shows.
Data from the Ministry of Petroleum seem to indicate that Syria’s imports of oil products stood at around 124,600 barrels per day during the first nine months of the year.
The Syrian President has issued a decree nominating five new Governors in Lattakia, Tartous, Aleppo, Idlib and Quneitra.
The election held last week at Syria’s chambers of industry saw the arrival of various new faces.
Wael Halqi, the Syrian Prime Minister, inaugurated last week several upscale retail and tourism projects in Tartous worth a combined USD 100 million amid an outcry from regime supporters.
Occupancy rates in hotels in the coastal area were high during the summer season and in September according to the Chairman of Syria’s Federation of Chambers of Tourism.
The text of U.N. Security Council resolution 2178 (2014) adopted on September 24, 2014, calling on all States to cooperate urgently on preventing the international flow of terrorist fighters to and from conflict zones.
Syria’s chambers of industry have provided an update on the destruction of the manufacturing sector in the country.
The Syrian Investment Agency licensed 40 projects in the first eight months of the year, most of them located around Damascus and in the coastal area.
The head of the Damascus Chamber of Industry has refuted claims made by a senior industrialist that most members on its board had relocated abroad in a dispute that highlights tensions among the Syrian business community.
The text of U.N. Security Council resolution 2170 (2014) adopted on August 15, 2014, calling on all States to act to suppress the flow of foreign fighters, financing and other support to Islamist extremist groups in Iraq and Syria, and putting six persons affiliated to those groups on its terrorist sanctions list.
The European Union has added new companies and individuals to its sanctions list, including two Lebanese companies and a prominent Syrian businessman.