Syria's industrial public sector faced mixed results in its export strategy according to figures released by the Ministry of industry.
According to the ministry of industry, the revamping of the industrial sector will require USD6 billion.
Barada, Syria's state-owned manufacturer of home appliances has entered into agreement with several Egyptian companies for the purchase of electric parts and other inputs.
The General Company for Iron and Steel Products exported USD3 million worth of goods in 2001.
Syria's state-owned cable company exported for USD7.5 million in 2001.
Syronics, the state-owned electronic equipment manufacturer, exported USD25.5 million worth of products in 2001, Walid Aqbiq, CEO, said.
Industrialists have forwarded a request to the Ministry of Industry, to drop interest rates charged on credits allocated to them.
Syria's new industry minister, Issam al Zaim, said that his country will keep its state industries although their accumulated losses reached USD1.6 billion in 2001.
Starting January 1, Electricite du Liban (EDL), the Lebanese electric authority, will reduce its supply of electricity to 16 hours a day in the whole country, excluding the Greater Beirut area.
The European Union is accusing Syria of dumping its cotton yarns export prices and of selling them at below market prices.
According to the director of the Syrian European Business Centre (SEBC), Syrian manufacturers have to better understand EU's market needs if they want to be competitive.
According to Teshreen, exports from public sector enterprises reached US$3.6 billion in the first 9 months of the year. Oil represented the bulk of that figure with US$2.1 billion.
The Syrian government is planning to merge the different agencies that are in charge of managing the public sector foreign trade, reported Al Sharq al Awsat.
Issam al-Zaim, the Minister of Planning, said that Syria had no intention of privatising and had made the strategic choice of holding on to state assets in order to face a potential threat from Israel, reported Al Hayat.
The Saudi government is in talks with six Arab and Muslim states to sell off its stake in seven joint-venture companies, including the Saudi-Syria company for industrial and agricultural investment, said Al Mustaqbal.
Jacques Sarraf, the president of the Lebanese Industrialists Association is heading a delegation to Damascus to congratulate the newly elected Board of Directors of the Damascus Chamber of Industry, said L'Orient-Le Jour.
The Syrian government gave finally its go ahead to Vimpex, an Austrian company, to revamp and run the state-owned Deir el Zor paper factory, reported Al Hayat.