Qatari and Turkish companies sign MoU to establish textile factory in Syria

Qatari public joint stock company "Baladna" and Turkish textile manufacturing group "Gurmen" signed a memorandum of understanding today, Monday, aimed at exploring opportunities to develop, establish, and operate a textile factory in Syria. This signing comes within the framework of both parties' efforts to enhance joint economic and investment cooperation in the industrial sector.

According to a statement by "Baladna" published on the "Qatar Stock Exchange" website today, Monday, under the memorandum of understanding signed by Ramiz Al-Khayat, chairman of the company, and Ramzi Gur, chairman of the board of directors of "Gurmen" group, the two parties will work on studying the feasibility of establishing and operating a textile factory through a potential joint venture. A joint action plan will also be developed to assess commercial feasibility and determine implementation requirements.

For his part, the CEO of the "Baladna" group, Marek Warzewoda, stated that the cooperation reflects a commitment to exploring investment opportunities that support economic recovery in Syria. He added that the company looks forward to contributing to building sustainable industries that provide employment opportunities, enhance local production, and raise the competitiveness of Syrian products in regional and international markets.

Chairwoman of the "Gurmen" group Yasmin Gur Solmaz pointed out that Syria boasts a long history in textile manufacturing and a base of qualified industrial expertise. She clarified that the cooperation aims to explore opportunities to develop a modern industrial facility that leverages the group's expertise in production, technology, and international markets. The "Gurmen" group was established in Turkey in 1985 and is active in the textiles, fashion, and retail sectors.

In the same context, "Baladna" continues to implement its investment strategy in Syria by developing an integrated project comprising a farm and a dairy factory, alongside building strategic partnerships to enhance local production and support food security. The company also collaborates with the International Finance Corporation to study opportunities for developing the dairy sector and expanding the participation of local farmers in production and value chains.

Syrian Arab News Agency (SANA)

Source: Syrian Arab News Agency (SANA)