Damascus, Aug. 12 (SANA)Two economic experts told SANA that theTartous Shipyard Agreement, signed between Syria’s General Authority for Ports and Customs andTürkiye’s “DENİZCİLİK SANAYİ VE TİCARET” company to establish an integrated shipyard at Tartous Port, represents a significant step toward advancing Syria’s maritime industries.

The agreement opens opportunities for localizing shipbuilding, repair, and maintenance, while attracting investment and transferring expertise and technology to Syrian professionals.

Economic journalist Mokhtar al-Ibrahim said the project enhances the role of Syrian expertise in the sector and introduces a high value-added industry—shipbuilding, repair, and maintenance—closely linked to metallurgy, electricity, mechanics, electronics, logistics, insurance, and transport. He added that the project could foster a new industrial cluster around Tartous.

Assistant Professor Bashir al-Daass of Quneitra University explained that the transport sector will be the first to benefit, shifting Tartous from a transit hub into an industrial and logistics pole. The project will modernize maritime infrastructure, stimulate integrated transport chains toward Gulf states, improve cargo handling efficiency, and eliminate reliance on foreign shipyards for maintenance.

Al-Ibrahim noted the project’s ability to generate foreign currency by attracting international ships for repair and maintenance in Tartous, effectively exporting maritime services from Syria.

At the same time, conducting repairs for Syrian vessels domestically reduces the need to pay foreign shipyards in hard currency. “The project secures two economic benefits: foreign currency inflows from international ships, and savings by servicing Syrian vessels locally,” he said.

The agreement, signed on January 15 under a Build-Operate-Transfer (BOT) model, is expected to create about 1,700 direct jobs and 3,500 indirect ones. It stipulates that Syrian labor must account for at least 95% of the workforce, and Syrian government vessels will receive a 20% discount on shipbuilding and repair services before taxes.The Turkish partner will invest no less than $190 million over five years to equip docks, warehouses, and operational facilities, with no financial obligation on Syria’s General Authority for Ports and Customs.

Al-Ibrahim explained that the project’s economic feasibility is measured on two levels: for investors, by the availability of a market for shipbuilding and repair serving Syria and neighboring fleets; and for Syria, through revenues from operations, port services, taxes, wages, and technology transfer.

Al-Ibrahim stressed that success requires adherence to timelines, training Syrian workers to international standards, and securing infrastructure, energy, and supply chains.

He emphasized the need for competitiveness against shipyards in Turkey, Greece, and the Eastern Mediterranean in terms of price, quality, and speed. “Geography alone will not guarantee success; ships will go where the balance of cost, speed, quality, and trust is best,” Al-Ibrahim said.

Al-Daass added that the lengthy construction and operational phases demand a balance between investor rights and national interests.

Al-Daass believes the project will transform Syria from a mere transit gateway into a logistics hub for maritime industries, improving the trade balance by eliminating the need to import shipbuilding and repair services. Lower shipping costs will also enhance the competitiveness of Syrian exports.

Al-Ibrahim agreed, noting that if the shipyard attracts foreign vessels, localizes knowledge, employs over 5,000 workers, and builds a domestic supply chain, it will create a new economic sector rather than simply expanding Tartous Port.

He stressed that maritime economies extend beyond ports, encompassing engineering firms, contractors, spare parts suppliers, insurance companies, logistics providers, and vocational training centers.

The agreement aims to introduce shipbuilding to Syria in line with international standards, representing a qualitative leap in the country’s industrial and economic infrastructure.