Syrian businesspeople to establish 10 factories in Turkey

Syrian businesspersons signed a protocol with Turkish authorities to open 10 factories in southeastern city of Şanlıurfa with an investment of $16.5 million, Daily Sabah reported on Friday.

The governor of the province approved the land allocation protocol between Syrian Businesspeople's Association (SİAD) and the Şanlıurfa Organised Industrial Zone Directorate that will allow to implement the plans for the investment. The factories to be established will provide jobs to 1,540 people in a province which is among the cities in Turkey hosting the greatest number of Syrian refugees. 

The 10 factories will operate in various sectors including shoes, plastic packaging, building materials, knitwear, textile and recycling.

The SİAD will pay 15 percent of the total land allocation cost in advance and the remaining part in three years to the Şanlıurfa Organised Industrial Zone after the land allocation contract is signed.

The Human Development Foundation, said in October 2017 that there were 8,100 Syrian companies established with foreign capital status in Turkey and that the total employment of these companies was approaching 100,000. 

According to the latest figures provided by the Economic Policy Research Foundation of Turkey, 674 new companies with Syrian capital have been registered between December-March 2018 in Turkey, with a total capital investment of approximately $20 million.