Syria Signs $800 Million Memorandum of Understanding with UAE’s DP World

Welat TV – Erbil

The Syrian General Authority for Land and Maritime Ports has signed an $800 million memorandum of understanding with the "UAE’s" DP World company, following the lifting of U.S. sanctions on Syria.

The Syrian News Agency (SANA) said on Friday, 16 May 2025, that the General Authority for Land and Maritime Ports signed a memorandum of understanding with DP World worth $800 million to develop a terminal at the port of Tartous, after the lifting of U.S. sanctions provided the opportunity to conclude the agreement.

This agreement includes the development, management, and operation of a multi-purpose terminal at Tartous Port, which will improve the port’s efficiency and operational capacity, enhancing its role as a pivotal center for regional and international trade.

The two sides also agreed to cooperate in establishing industrial and free zones, as well as dry ports and cargo transit stations in a number of strategic areas across Syria.

The move comes after President Trump announced the lifting of U.S. sanctions on Syria, and aimed the new Syrian government’s efforts to attract direct foreign investment.