Baladna signs MoU with Türkiye’s Gürmen Group for Syria textile project

Baladna, a Qatari public shareholding company, has signed a memorandum of understanding (MoU) with the Turkish Gormen Group to explore opportunities to develop, establish and operate a textile factory in Syria.

The MoU was signed by Mr. Ramez Al Khayat, Chairman of Baladna, and Mr. Ramzi Gur, Chairman of the Board of Directors of Gorman Group.

The MoU sets out a framework for cooperation between the two sides with the aim of supporting industrial development, attracting international expertise, and creating new opportunities for local manufacturing and employment.

A statement from the company published on the Qatar Stock Exchange website explained that the two parties will work on studying the feasibility of establishing and operating a textile factory in Syria through a possible joint venture.

The cooperation aims to contribute to the development of the local textile industry, promote the transfer of knowledge and expertise, provide job opportunities, and raise manufacturing capabilities in Syria.

"Our collaboration with the Gormen Group reflects our commitment to exploring investment opportunities that contribute to Syria's economic recovery and the development of its productive sectors," said Marek Warzivoda, Group Chief Executive Officer of Baladna, noting that there is promising potential in the textile sector, especially through partnerships that combine international industrial expertise with local capabilities.

He added that we look forward to contributing to building sustainable industries that provide job opportunities, enhance local production, and raise the competitiveness of Syrian products in regional and international markets.

Yasmin Gur Solmaz, Chairman of the Board of Directors of Gormen Group, said: "Through this collaboration, we seek to explore opportunities to develop a state-of-the-art industrial facility that leverages our expertise in production, technology and international markets.

She expressed confidence that the combination of the capabilities and expertise of the two companies can contribute to the establishment of a competitive and sustainable industrial activity, and support the development of the local textile sector.

Our country continues to implement its investment strategy in Syria through the development of an integrated project that includes a farm and a dairy factory, as well as building strategic partnerships aimed at enhancing local production and supporting food security in the country.

The company is also collaborating with the International Finance Corporation (IFC) to explore opportunities for the development of the dairy sector and expand the participation of local farmers and livestock breeders in production and value chains.

As part of its broader investment plans, our country is exploring opportunities in various agricultural and industrial sectors, including the textile industry, sugar production and strategic crops.

About Qatar Living:

Since 2005, Qatar Living has been the trusted destination for everything Qatar. As the country's largest online community and marketplace, Qatar Living connects people with opportunities through jobs, property, vehicles, services, classifieds, events, local insights, and breaking news. Trusted by residents, newcomers, visitors, and businesses alike, Qatar Living brings Qatar together in one place.

Instagram - @qatarliving

X - @qatarliving

Facebook - Qatar Living

YouTube - qatarlivingofficial