Damascus-Sana
The Ministry of Economy and Foreign Trade announced the adoption of six new programs that include interest rate support for a number of materials that can be manufactured locally, as part of its work to replace the import substitution industry.
The ministry said in a statement today that SANA received a copy of it that the programs are setting up factories for the production of glass panels, restoration and restarting, setting up factories for machinery and production lines, restoration and restoration and manufacture of Formica panels starting from the raw material and the manufacture of renewable energy components and the production of energy organizations "inverters" and the production of batteries.
The Ministry mandated the Commission for Support and Development of Local Production and Exports to circulate these programs to the operating banks that signed the framework agreement to follow up on the implementation of the Economic Committee’s recommendation related to spending the amounts allocated in the state’s general budget of 20 billion Syrian pounds to support interest rates for a set of targeted programs.
The Council of Ministers had adopted last October the executive procedures of the program to replace local industries instead of importing and provide an opportunity for investors locally and abroad to invest in priority and important sectors.