Economy

14-05-2024
The Autonomous Administration in Northeast Syria has announced advancements in the establishment of an industrial city in Manbij that will host 610 shops and workshops on 430,000 square metres. Construction works started in 2023 and the project is bound to be completed in 2025.
07-05-2024
Two events last week highlighted the specific role the Czech Republic plays in relations between the European Union and Syria. The Czech State Secretary of the Ministry of Foreign Affairs travelled to Damascus where he met with Syrian officials, becoming one of the most senior European diplomats to visit Syria since the onset of the uprising in 2011. Meanwhile, a Czech engineering company got involved in the electricity sector, which is sanctioned by the EU.
30-04-2024
The Syrian government has issued their wheat procurement prices at SYP 5.5 million (around USD 366) per tonne, a stark increase from the SYP 2.8 million per tonne offered to local farmers in 2023 and the SYP 2 million offered in 2022.
30-04-2024
A visit by the Federation of Syrian Chambers of Commerce to Saudi Arabia, initially scheduled for April 24, has been “postponed,” without a clear explanation, although a source close to the Syrian federation blamed elections at the Saudi Chamber of Commerce scheduled for this week.
30-04-2024
War profiteer Khaled Zubaidi has established a Public Joint Stock company to invest in the sports sector with a capital of SYP 26 billion, equivalent to around USD 1.7 million. The company was registered in December 2023 under the name of Al-Wahda Investment and Development PJSC, according to the Official Gazette records. The name is a nod to the Al-Wahda sports club from Damascus.
23-04-2024
Amnesty International has documented “large-scale and systematic violation of rights” in the detention system in northeast Syria. The detention network in AANES areas holds 56,000 people; 10,000 of them (mostly men) in 27 detention facilities, and 46,000 (mostly women and  children) in two detention camps: Al-Hol and Roj. The U.S. has played a prominent role in funding the vast detention network in the northeast. Since 2015 up till now, U.S. military funding to Syria has neared USD 2 billion.
23-04-2024
On January 28, Russian company RPOST-M LLC was established in Syria to provide security services. The company was founded by Maxim Yurievich Grekhov, reportedly a former undercover officer for the Russian intelligence services. The recent establishment of the RPOST-M branch in Damascus may suggest a strategy of distributing the previous interest of Wagner among different companies, instead of a single company or leader.
16-04-2024
The United Kingdom holds GBP 163.2 million in frozen assets of Syrian individuals and entities under U.K.’s Syria sanctions. U.K. authorities have also seized a GBP 26 million property from Rifaat Al-Assad in London, and have collected nearly GBP 200,000 in penalties for sanction violations.
09-04-2024
The Syrian Salvation Government has started implementing several of the reforms that Abou Mohammad Al-Jolani, leader of Hayat Tahrir Al-Sham, promised mid March in a bid to appease the protests that have filled in recent weeks Idlib’s streets in recent weeks. 
02-04-2024
Private sector electricity providers, using small power generators working on gas oil, are increasingly spreading across regime areas, after initially starting operating in the Aleppo governorate in 2013. Since then, they have expanded to the governorates of Damascus, Rural Damascus, Lattakia and Tartous.
02-04-2024
A week after the visit of high ranking officials of the International Atomic Energy Agency to Damascus re-establishing official communications with the government of Bashar Al-Assad, the Atomic Energy Commission of Syria and the Russian state nuclear corporation, Rosatom, have signed a Memorandum of Understanding on the field of peaceful uses of atomic energy.
26-03-2024
In 2023, Syrian exports of truffles amounted to USD 564,000, according to UN Comtrade, but this figure falls short from reflecting the real size of the trade industry due to undisclosed trade activities and smuggling practices. No Arab country appears as an importer of Syrian truffles in 2023, while Syrian officials have stated that Saudi Arabia is the main importer and Gulf countries a top destination for the Syrian truffle. Truffle hunters face landmines and ISIS attacks while picking this prized fungi in desertic areas, mostly in the Deir-ezz-Zor and Raqqa governorates.
26-03-2024
The United Nations has proposed the establishment of a new entity, the Early Recovery Trust Fund (ERTF), that will deal with early recovery funds across all areas of control in Syria.
19-03-2024
This interview with NRC’s Regional Media and Communications Adviser is part of our series of in-depth interviews with key actors of Syria’s humanitarian and development sector.