‘Syria possesses valuable assets,’ says DP World’s CEO, highlighting the country’s economic potential.
Syria has finalised an $800m agreement with Dubai-based DP World to redevelop its Tartous port in a bid to speed up post-war reconstruction.
State news agency SANA said the deal was signed in Damascus on Sunday between DP World and the General Authority for Land and Sea Ports, in the presence of Syrian President Ahmed al-Sharaa.
Syrian officials described the deal as a key step towards modernising the country’s logistics infrastructure.
“This strategic move will bolster our port operations and logistics services,” SANA quoted an unnamed official as saying.
Since the fall of former President Bashar al-Assad in December, Syria’s new leadership has been pushing to re-establish economic ties with international companies and bring the war-torn country back into the global market.
Speaking after the signing, DP World CEO Sultan Ahmed bin Sulayem said Syria’s economic potential remained strong, noting the Tartous port could play a central role in reviving local industry.
“Syria possesses valuable assets,” he said, “and Tartous is an essential hub for trade and exports. We aim to transform it into one of the world’s leading ports.”
‘Laying the groundwork’
DP World manages dozens of port facilities across Europe, Africa and Asia and has been expanding its reach in the Middle East.
Qutaiba Badawi, who heads Syria’s port authority, said the agreement marked more than just a commercial venture.
“We are laying the groundwork for a new era of maritime development, positioning Syria again on the international economic stage,” he said.
The Tartous deal follows several high-profile contracts signed in recent months.
In May, Damascus entered a 30-year agreement with French shipping company CMA CGM to operate Latakia port. That same month, Syria inked a $7bn energy deal with a coalition of Qatari, Turkish, and US firms to revive the country’s power sector.
Earlier this month, the United States said it will revoke its designation of Hayat Tahrir al-Sham as a “foreign terrorist organization” as Washington softens its approach to post-war Syria.
Last month, US President Donald Trump issued an executive order lifting several longstanding sanctions on Syria, which Washington said would support the country’s reconstruction. The US Treasury noted the decision would ease restrictions on companies considered vital to Syria’s rebuilding and governance.
Western sanctions had hampered reconstruction efforts for years, further crippling an economy already shattered by more than a decade of civil war and human rights abuses under al-Assad’s rule.
