The Syrian government and DP World, a Dubai-based global ports operator, have signed an $800 million memorandum of understanding (MoU) on Friday, May 16, 2025, to develop Syria's port of Tartous. The agreement aims to strengthen port infrastructure and logistics services in the country.
The deal includes developing, managing, and operating a multi-purpose terminal at Tartous Port. It also involves cooperation in establishing industrial and free trade zones, dry ports, and freight transit stations in strategic areas within Syria. This is expected to raise the port's efficiency and operational capacity, enhancing its role in regional and international trade.
The agreement follows the announcement by U.S. President Donald Trump to lift sanctions against Syria. This move is expected to attract foreign investments to boost Syria's struggling economy. DP World, a subsidiary of Dubai World, has not yet officially announced the deal.