Shafaq News- Damascus
Economic obstacles are pushing Syrian industrialists towardimporting finished goods instead of investing in domestic manufacturing, thehead of the Energy and Gas Committee at the Damascus and Rural Damascus Chamberof Industry told Shafaq News on Friday.
Mohammad Marwan Orfali pointed out that economic cooperationwith surrounding countries presents a strategic opportunity to attractinvestment to Syria's industrial cities. However, industrial projects typicallyrequire five to ten years to recover invested capital, while importing cangenerate profits within about six months.
Syria's industrial cities were built by Syrian expertise andcontinue to serve investors efficiently, while exports from those cities toneighboring markets remain very limited because imported goods continue todisplace locally manufactured products.
He also pointed to challenges facing the jointSyrian-Jordanian industrial zone, with restrictions imposed by both countrieshaving undermined its performance. “Syria imposes unjustified fees on rawmaterials, while Jordan applies strict scrutiny to import and export invoices.”
According to Orfali, the reopening of border crossings haslargely benefited regional countries, arguing that high Turkish customs dutieson Syrian products, along with higher tariffs and stricter import proceduresimposed by nearby states, have allowed imports to outpace exports and createdmajor obstacles for Syrian industrial exports. He added that efforts areunderway to develop industries tailored to the needs of neighboring markets.
“Investors ultimately follow financial returns, warning thatunless investment conditions improve in Syria, businesses will continueimporting rather than manufacturing them locally,” he concluded.
