Iranian Ambassador Mohammad Reza Baqeri said that Syria provides a conducive atmosphere for commercial activities by private Iranian companies, IRNA said. Speaking on the threshold of Iran-Syria Economic Cooperation Commission meeting to be held in Tehran, he added, "We do not look to Syrian as a customer for our goods, but as a partner." The envoy further said that Iranian companies have invested over $60m in multiple projects in Syria.
Baqeri also said the Syrian government has provided good incentives for foreign investments in the country. A $200m cement factory in the city of Hama, 200km north of Damascus is a joint Iran-Syria project. Syria produces over 5Mta of cement and imports another 2Mt and with the factory in operation the country can add about 1Mt of cement to its domestic production and save hard currency.