Public sector has recovered with 80 % capacity and an increasing investment demand, Sabbagh says

 Minister of Industry Ziyad Sabbagh has affirmed that the industrial sector has been subjected to a huge destruction over the years of war

During a press conference on Wednesday, Sabbagh said that the damages are estimated at more than SYP 1,069 billion at the public and private sectors

“The number of private sector’s facilities have reached up to 137,000 industrial and crafts facilities, of which 87,000 facilities are operating, while 50,000 ones are suspended”, he added

Minister Sabbagh noted that till the end of last September, the actual production volume has reached up to SYP 658 billion, meanwhile the actual sales have amounted to SYP 644 billion

Sabbagh indicated that the number of industrial facilities licensed under Law 21 during the third quarter of this year amounted to 923, of which 291 were implemented

The Minister of Industry pointed out that after being rehabilitated, Tamiko Pharmaceutical Company has now reached 80 percent of the production capacity which it used to have before being sabotaged at the hands of terrorists

“The Ministry of Industry has coordinated with Agriculture and Agrarian Reform Ministry to set an integrated plan for the development of agro-industry and contract farming, in addition to coordination and cooperation with the Federation of Industry Chambers to overcome obstacles facing the work of the private industrial sector,” the minister said

He added that the ministry has also cooperated with the Ministries of Social Affairs and Agriculture to develop and support rural industries and bring the products of these industries to the market

“We had successful talks with the Iranian side, signed an executive program, and agreed to discuss investment plans for the suspended facilities,” Sabbagh said

He called on the private sector to participate in re-operating the destroyed and suspended companies