In a significant step toward national economic development, the Syrian Ministry of Economy and Industry formalized a memorandum of understanding (MoU) with the Aga Khan Development Network on Tuesday, Jan. 6. The agreement is designed to revitalize the country’s industrial landscape and foster a more robust collaboration between governmental bodies and the private sector.
Framework for Industrial Cooperation
The MoU was officially signed by Minister of Economy and Industry Nidal al-Shaar and the resident representative for the network in Syria, Ghatfan Ajoub. Under this new framework, the ministry has pledged to offer comprehensive studies, information, and various facilitation measures to bolster the projects managed by the network throughout Syria. The core objective of this partnership is to encourage sustainable growth within the industrial sector while cementing effective public-private partnerships.
Strategic Projects in Salamiya and Masyaf
The Aga Khan Development Network is already actively engaged in several initiatives within the cities of Masyaf and Salamiya. These efforts include the development of a shoe factory and a cotton gin, alongside the creation of a specialized company for drying vegetables and onions in Salamiya. Additionally, the network is focusing on the investment of agricultural lands. These diverse projects are specifically tailored to enhance both industrial and agricultural productivity in these targeted regions.
Long-term Investment and Community Support
This collaboration aligns with a recent announcement from the network confirming a commitment of over €100 million for new initiatives in Syria scheduled for 2026 and 2027. Following the direction of the network’s leader, Prince Rahim Aga Khan V, the organization highlighted its steadfast dedication to the Syrian people. Their ongoing strategy focuses on programs that merge immediate humanitarian aid with the long-term development of community capacities.
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