Syria has entered into a 20-year investment agreement with Chinese company Fidi, marking a significant move toward reviving its economy through foreign partnerships. Announced via the General Authority for Land and Maritime Ports, the memorandum of understanding grants Fidi the rights to develop and manage key areas within Syria’s free zones.

One of the main projects will take place in the Hessia free zone in Homs province, where Fidi will oversee the development of an industrial zone spanning 850,000 square meters. Additionally, the agreement includes investment rights in a 300,000 square meter area of the Adra free zone, just outside Damascus, focusing on commercial and service-oriented products aimed at both local and regional markets.

Syria’s free zones offer a range of incentives to international investors, including full tax exemptions, flexible hiring policies, and freedom to move capital. With hopes pinned on the gradual easing of Western sanctions, Syria appears eager to re-establish economic stability after over a decade of conflict.

China, which remained a firm supporter of Syria’s former government during the war, alongside Russia and Iran; now seems positioned to play a role in shaping the country’s post-war reconstruction efforts.