Doha, November 09 (QNA) - Baladna Q.P.S.C. has signed a memorandum of understanding (MoU) with Turkish-based Gurmen Group to explore the development and operation of a textile manufacturing facility in Syria.
The agreement establishes a framework for cooperation between the two companies to assess the feasibility of establishing and operating the facility through a potential joint venture, with a focus on supporting industrial development, transferring expertise and creating employment opportunities.
The MoU was signed by Baladna President Ramez Al Khayyat and Gurmen Group Chairman Remzi Gur.
Under the agreement, the two companies will jointly evaluate the proposed facility, with the cooperation aimed at supporting the development of Syria's textile industry, promoting knowledge and technology transfer, creating jobs and strengthening the country's manufacturing capabilities.
Baladna Group Chief Executive Officer Marek Warzywoda said the cooperation with Gurmen Group reflects the company's commitment to exploring investments that support Syria's economic recovery and the development of its productive sectors.
He said the textile industry offers considerable potential, particularly through partnerships that combine international industrial expertise with local capabilities, adding that Baladna aims to contribute to building sustainable industries that generate employment, strengthen local production and enhance Syria's competitiveness in regional and international markets.
Gurmen Group Chairman Yasemin Gur Solmaz said the company aims, through its cooperation with Baladna, to explore the development of a modern textile manufacturing operation drawing on its experience in production, technology and international markets.
She said combining the two companies' respective strengths could help establish a competitive and sustainable business while contributing to the development of Syria's textile industry.
Baladna continues to advance its investment strategy in Syria through plans to develop an integrated dairy farm and processing facility, alongside strategic partnerships aimed at strengthening local production and supporting food security.
The company is also working with the International Finance Corporation (IFC) to explore opportunities to develop the dairy sector and expand the participation of local farmers and livestock producers.
As part of its broader investment strategy, Baladna is pursuing opportunities across agriculture and industry, including textile manufacturing, sugar production and strategic crops. (QNA)