Aid & Development

Egyptian Companies Set Sights on Share of Syrian Reconstruction Projects

Syria

Dozens of Egyptian businesses hope to secure a large portion of contracts in the lucrative post-war rebuilding stage.

Egyptian companies hope to secure a stronger role in the Syrian reconstruction phase as a business delegation prepares to head to Damascus, according to the Egyptian press.

The Al-Dustour newspaper quoted Mohamad Shaeer, the managing director of Al-Nasser, an Egyptian import and export company, as saying that “a delegation of businesses will visit Syria on Feb. 17 in the context of activating the role of Egyptian companies in reconstructing Syria.”

Shaeer said that the Egyptian delegation would meet before traveling to Syria to coordinate a role in the fields of contracting and export, also noting the presence of an “Egyptian, Saudi, Russian, Chinese coalition to reconstruct Syria again.” He added: “There are Egyptian companies that will have a role in pumping new investments into Syria.”

According to the same source, “Egyptian investments will be represented in agricultural and industrial projects, with the export side to include the medicine and dry foods sectors,” adding that, “the reconstruction of Syria will help increase the revenues of contracting sector companies participating in the rebuild, which will help the state general budget.”

Ahmed Abou Shabana, head of the El-Nasr Company for Buildings and Construction (EGYCO), said: “Egyptian contractors represented by the Holding Company for Construction and Development will ally with a number of private sector firms to obtain infrastructure projects, including roads and bridges.”

He added: “Egyptian companies are ready to enter into the fields of building airports, seaports and constructing new factories which are launched in Syria.”

Relations have improved between Egypt and the Assad regime since the Egyptian President Abdel-Fattah al-Sisi arrived in power following a coup against former President Mohamad Morsi in 2013.

Image: Al Monitor

Article: The Syrian Observer