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Iran's private sector looks to do reconstruction projects in Syria

20 December 2018 [13:27] - TODAY.AZ

By  Trend

Iran's private sector looks to get involved in doing reconstruction projects in Syria, which are estimated to need some $600 billion worth of investment.

"The estimates show that the reconstruction of Syria requires some $600 billion, while some 150 billion is needed for reconstruction of houses," Iran's minister of Roads and Urban Development Amir Amini said, Trend reports via ILNA.

Amini also noted that Iran's government wouldn't allocate public resources to Syria's reconstruction projects.

"Iran's investment in foreign countries should be according to their regulation", he added.

On the other hand, Iran's private sector is already getting involved.

Amini said that the private sector is investing in different fields there, including supply of construction materials (specially cement) in Syria.

"There are good investment opportunities in Syria and the only problem is the weak communication between investors and the Syrian government," he said.

"The investments are not allocated from public sources, in these projects, Iran have signed protocols and long term memorandum of understanding that are to be signed by Syrian government, so the Iranian private sector can invest separately in Syria," he explained.

Amini mentioned the presence of Russian investors in Syria's reconstruction projects.

"Although Russians are present there as well, Syria has close tendency toward Iran due to common thoughts and religion.”

"Iran's government would introduce the private sector to Syrian government. During recent official trips to Syria representatives of private sector have accompanied the Iranian government representatives," he said.

"The Khatam-al Anbiya Construction Headquarters - an Iranian engineering firm controlled by the Iranian Revolutionary Guard Corps - would also be present in Syria as an investor," he added.

"Iranian contractors have also entered Iraq and Turkmenistan markets. Several transportation projects have been initiated in these countries through Iranian investments," he added.


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