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Iran to establish at least 3 factories in Syria amid economic crisis

Iran-Syria

Masan Nahas, head of the Iran-Syria Chamber of Commerce says Iran has agreed to open three factories in Syria before Eid al-Adha (August 12).

Two of the factories are going to produce skimmed milk and medicine for cancer, and the third, will be a car manufacturing factory, Nahas told Al-Vatan newspaper.

The development coincides with the sharp decline in the output of Iranian factories as a result of US sanctions that have made procuring raw material and spare parts impossible as observed by Iran's Industry Ministry.

In repeated mass demonstrations in Iran since 2017, protesters have voiced their anger at their government's policy of devoting money and resources for regional allies, such as Syrian President Bashar al-Assad and the Lebanese Hezbollah.

Iranian car manufacturer Iran Khordo has experienced a 36 percent drop in output since March.

Syria hopes the cooperation will help it circumvent the sanctions imposed on Damascus.

According to Nahas, Syria's economic situation will improve in the coming months and goods, including milk for infants and medicine for patients, will be put at people's disposal at reasonable prices.

Iran and Russia, Assad's main supporters, have provided loans and other financial facilities for the Assad regime.

In February, Iran's Vice-President Eshaq Jahangiri spoke about a "major agreement" between Tehran and Damascus to develop Syria's railway network and establish a power plant in Syria.

Last Modified: Saturday، 03 August 2019 03:16 PM
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