Syria and Chinese company sign 20-year memorandum to invest in free zones - Economy
Syria said Thursday it had signed a memorandum of understanding with a Chinese company to invest in free zones for 20 years.
The General Authority for Land and Maritime Ports said on X that it had signed a "strategic agreement" with the Chinese company Fidi.
The deal gives Fidi full operation rights over the Hessia free zone in the central province of Homs where an industrial zone would be developed on 850,000 square metres (210 acres) of land.
It also grants Fidi rights to invest in 300,000 square metres of the Adra free zone on Damascus' outskirts, where the focus would be on commercial and service products for the local and regional markets.
Syria has numerous free zones offering foreign investors benefits including full tax exemptions, the freedom to hire local or foreign labour and unrestricted transfer of foreign capital.
The country's new Islamist rulers hope the imminent lifting of US and European sanctions will kickstart an economic recovery, after 14 years of devastating war.
China was a major backer of former president Bashar al-Assad alongside Russia and Iran before his overthrow in December.
Along with Russia, it repeatedly used its UN Security Council veto to support the Assad government and block Syria-related resolutions during the conflict.
Follow us on:
Facebook
Instagram
Whatsapp
Short link:
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
See - Sada Elbalad
an hour ago
- See - Sada Elbalad
Has Soft Power Come to an End?
By Prof. Abdelhaq Azzouzi Anyone following international events and strategic thinking trends will come to the conclusion that capitals such as Washington, Beijing, and Moscow are now leaning heavily on the theories of Carl von Clausewitz, the 18th-century Prussian general and military historian, as well as those of Sun Tzu, the 6th-century BC Chinese military strategist. This trend stands in contrast to the intellectual frameworks developed by strategic thinkers like Joseph Nye, who passed away just a few weeks ago. Nye lamented in his final writings the rupture caused by President Trump with American soft power. Writing in the Financial Times, he noted: 'His background in New York real estate gave him a distorted view of power, focusing only on coercion and deals. American soft power will therefore have a hard time during the next four years.' Joseph Nye, who was once Dean at Harvard University, authored two essential books I always recommend to my students. The first, Bound to Lead: The Changing Nature of American Power (1990), explores the ability of the United States to exert global influence through non-coercive means — based on attraction and persuasion rather than blatant force or hard power. The second, titled Soft Power: The Means to Success in World Politics, elaborates on the advantages of diplomacy and cultural appeal, emphasizing how a nation's political values, culture, or other forms of influence can achieve cultural dominance. Nye warns, 'Although hard power can achieve goals, it can also jeopardize the economic, political, and even cultural aspirations of major powers.' He cautions that if America wishes to remain strong, 'Americans must be attentive to their soft power.' Nye bridged the worlds of theory and practice, which gave his writings remarkable resonance. He was a founding figure of the Harvard Kennedy School — often regarded as a factory for strategic minds and public policy leaders in the U.S. — and held several governmental positions under Presidents Jimmy Carter and Bill Clinton. At the height of the COVID-19 crisis, Nye penned an article for Project Syndicate titled 'Geopolitics After the Pandemic,' in which he observed that long-term projections about the impact of the pandemic remained uncertain. He proposed that there was no single guaranteed scenario through to 2030. Instead, he outlined five potential geopolitical trajectories: 1. The end of the liberal world order. 2. The rise of authoritarian regimes resembling those of the 1930s. 3. A world order dominated by China. 4. The adoption of a global green agenda. 5. A continuation of the current status quo. Despite the value of these theories and scenarios, they require deeper clarification and adjustments. It is true that the U.S. administration, under President Trump, decided to shut down the U.S. Agency for International Development, withdrew from several international organizations, and largely disregarded values that constitute the core of soft power. But does this mean that American soft power has truly ended? Certainly not. Soft power persists — often alongside hard and smart power — especially through the limitless, diverse, and evolving products of American civil society. This presence ensures America retains global leadership in areas such as technology, scientific research, cinema, music, the English language, media, food culture, and fashion. A prime example is Netflix, which as of 2025 boasts over 301.6 million subscribers worldwide. It captivates individuals and governments alike with its dramatic and documentary productions. This kind of success is only possible for countries or companies with a vast cultural industry capable of attracting global consumers. It is a clear manifestation of soft power — one that places the languages and cultures of other countries under immense pressure. It is true that we are witnessing the continued erosion of the liberal world order and the return of fascism in some parts of the world. But this does not preclude the potential rebirth of liberalism. Major crises sometimes produce unexpected outcomes. The Great Depression, for instance, triggered waves of isolationism, nationalism, and fascism, culminating in World War II. Yet it also led to groundbreaking economic programs in the U.S. known as the New Deal, the rise of America as a global superpower, and ultimately the dismantling of colonial empires. Finally, even if, contrary to Nye's prediction, we do not see the emergence of a pragmatic green global agenda amid American isolationism and its withdrawal from the Paris Agreement on climate change, we will likely witness the rise of nationalist rhetoric in many countries — a trend that could dangerously escalate international tensions. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan
Egypt Independent
a day ago
- Egypt Independent
Trump reveals why Egypt was excluded from travel ban
U.S. President Donald Trump revealed onThursday, the reason he did not impose a travel ban on citizens of the Arab Republic of Egypt to the United States. During a joint press conference with German Chancellor Friedrich Merz at the White House in Washington, he stated: 'The countries included in the decision don't have things under control, but with Egypt, we are working closely.' Egypt has long been a key partner for the United States in the Middle East. Relations between Cairo and Washington date back to 1922, following Egypt's independence from the United Kingdom, and have continued ever since. According to the U.S. Embassy in Egypt, approximately 450 Egyptians travel to the United States annually on professional and academic exchange programs. The U.S. Embassy stated: 'Egypt is a valuable American partner in counterterrorism, combating human trafficking, and regional security operations, enhancing both American and Egyptian security.' Cairo has played a pivotal role in mediation efforts during Israel's war on Gaza, which Egypt feared could extend across its borders if not contained. Egypt maintains communication channels with both Hamas and Israel, and has sought to broker a ceasefire agreement that would also facilitate the return of hostages. The nations on Trump's travel ban list The White House announced that Trump has issued an executive order banning the entry of citizens from a number of countries into the United States of America, citing national security concerns. A statement from the White House read: 'The executive order imposes full restrictions on the entry of citizens from 12 countries proven to have deficiencies in their screening and vetting procedures, which poses a significant risk to the United States.' It clarified that 'the countries covered by this full ban are Afghanistan, Burma, Chad, the Democratic Republic of Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan, and Yemen.' 7 high-risk nations The statement added that 'the executive order also imposes partial restrictions on the entry of citizens from 7 other countries deemed high-risk, namely: Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan, and Venezuela.' The White House clarified that 'the decision includes exceptions for lawful permanent residents of the United States, current visa holders, certain special visa categories, and individuals whose entry is deemed necessary to serve U.S. national interests.' Combating terrorism The statement affirmed that these restrictions aim to 'enhance international cooperation in security, enforce U.S. immigration laws, and achieve foreign policy objectives, including combating terrorism.' The statement quoted Trump as saying: 'We will reinstate what is known as the travel ban, which some have called the 'Trump travel ban,' and keep radical Islamist terrorists out of our country, a decision upheld by the Supreme Court.'
See - Sada Elbalad
a day ago
- See - Sada Elbalad
Arab League Chief Condemns Israeli Airstrikes on Southern Beirut, Warns of Dangerous Escalation
Nada Mustafa Secretary-General of Arab League, Ahmed Aboul Gheit, has condemned the airstrikes carried out by Israeli occupation forces on the southern suburb of Beirut. He warned that the repeated violations of the ceasefire agreement signed last November risk triggering a dangerous escalation and renewed violence in the region. Jamal Rushdi, the official spokesperson for the Secretary-General, stated that Israel's attempts to destabilize the Lebanese atmosphere have become increasingly evident, adding that the recurring airstrikes undermine the true essence of the ceasefire agreement. Moreover, Aboul Gheit called on the American and French mediators to intervene and exert real pressure on Israel to uphold the agreement and restore calm. He also emphasized the need for the full and precise implementation of UN Security Council Resolution 1701, stressing the importance of all parties adhering to the ceasefire terms, including Israel's withdrawal from five border points it continues to occupy in southern Lebanon. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan
