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A local study suggests the establishment of a bank for "reconstruction"

Damascus Center for Research and Studies (MADAD) published a study on the sources of reconstruction funding in Syria.

The study has proposed the establishment of a reconstruction bank called “the Development Bank”, which together with the central bank will be a key tool that authorizes the Syrian government to use it to accomplish the reconstruction process as soon as possible. The study clarified that the capital will be ensured through the government’s issuance of treasury bonds purchased by Syrian citizen within and outside of the country.

The study stressed the necessity to reconsider the legislations governing banking work and administrative and operational legislations in order to be more flexible and effective, so as to contribute effectively to the financing of reconstruction.

Syrian Electricity Company announced operating the largest solar power station to generate electricity in Homs

The Syrian General Electricity Company announced that it has operated in cooperation with al-Nafouri Integrated Solutions Company, the largest solar power station in Syria to generate electricity with a capacity of 500 KWh in the industrial city of Hisyah.

“The station is the largest of its kind in the governorate and has been connected with a special conversion center within the station with a transformer capacity of 630 KVA then connected with a center belonging to Homs electricity company within the industrial city of Hisyah in Homs”, the director of Homs Electricity Company Engineer Musleh al-Hassan was quoted as saying.

The engineer al-Hassan referred to the investors’ increasing requests for a license to implement renewable energy projects due to the facilities being offered to the investors to set up environmentally friendly alternative power plants within the directives of the Ministry of Electricity to encourage partnership with the private sector in light of the oil lack shortage and the growing need for electricity.

Russia plans to establish a center for the repair of Russian ships in the seaport of Tartous

The Russian Navy’s Physical and Technical Supply Center (PMTO) in Tartus announced that it will start work on maintaining Russian ships, a source at the Russian naval industry center was quoted as saying by Tass Russian Agency.

The source added that the work of the center will be limited to providing minor repairs to ships and submarines relating to the permanent operational contact of the Russian Navy in the Mediterranean Sea.

The most up to date machines have been purchased and transported to Tartous, the source pointed out.

Syrian Textile and Garment Industry on Recovery Path

DAMASCUS, (ST)-More than 100 national textile and garment companies are taking part in the "Made in Syria" Exhibition for Textiles, Garments and Production Requirements eying new exportation contracts.

The four-day economic event, which kicked off on Friday in Damascus, is organized by the Federation of the Syrian Chambers of Commerce and Industry in cooperation with the Syrian Textile and Garment Exporters Association. It exhibits a variety of kids, men and women wears, lingerie, socks, leather products and all kinds of fabrics as well as production requirements.

Ghassan al-Fakyani, Director General of the General Establishment for International Fairs and Exhibitions said that the fair saw a big turnout  of visitors and Arab delegations, mainly from Iraq and Kuwait. This indicates the recovery of the Syrian economy and the national industry, particularly the textiles, he added.

Situation of Syria’s Oil Products this Coming Winter:

Syria Times conducted an interview with the Ministry of Petroleum and Mineral Resources’Syrian Company for the Storage and Distribution of Petroleum Products’ (Mahrukat) General Director Mustafa Hasweh.

What are the tasks of Mahrukat Company?

The Mahrukat Company was established in 1974. It is one of the Ministry of Petroleum and Mineral Resources’ companies. It has a direct relation with citizens and all economic, industrial and services sectors in Syria.