A memorandum of understanding was finalized on Tuesday, Jan. 6, between the Syrian Ministry of Economy and Industry and the Aga Khan Development Network. This strategic agreement is designed to advance the nation’s industrial sector while bolstering the relationship between public and private entities across Syria.
Strengthening Industrial Cooperation
The document was signed by the Minister of Economy and Industry, Nidal al-Shaar, alongside Ghatfan Ajoub, the resident representative for the network in Syria. As part of the arrangement, the ministry has committed to offering essential data, research studies, and regulatory facilitation to aid the network’s initiatives throughout the country. This collaborative effort focuses on fostering long-term industrial sustainability and building solid public-private partnerships.
Impact on Regional Development
This agreement coincides with ongoing projects managed by the Aga Khan Development Network in the cities of Masyaf and Salamiya. These initiatives include the creation of a facility for drying vegetables and onions in Salamiya, agricultural land investments, and the modernization of a shoe factory and a cotton gin. These endeavors are set to bolster the agricultural and industrial landscape in these specific locations.
Future Investments and Strategic Vision
In a recent announcement, the organization reaffirmed its dedication to the nation, pledging more than €100 million for upcoming projects scheduled for 2026 and 2027. Guided by Prince Rahim Aga Khan V, the head of the organization, these programs aim to support the Syrian population by merging urgent humanitarian aid with the development of sustainable local capabilities.
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