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The Istanbul Chamber of Commerce (ICOC) is setting its sights on investment opportunities in Syria, amid what it views as early signs of stabilization in the war-torn country, Chairman Sekib Avdagic said, noting that China has already secured 800 decares of land in Damascus to establish a manufacturing hub.
Highlighting the urgency for Türkiye to act, Avdagic stated that ICOC has sent two board members to Syria to assess the ground, meeting with Türkiye’s ambassador in Damascus, the Damascus Chamber of Commerce, and local industrialists.
According to Avdagic, there is growing momentum toward a period of calm and reconstruction, suggesting that now may be the time for Turkish businesses to evaluate strategic involvement. He noted that the delegation observed significant international interest in the region, particularly from China.
“China has been granted the allocation of 800 decares of land,” he said, referring to roughly 800,000 square meters of property in Damascus that has been secured by Chinese investors. This development, he implied, underscores the increasing global competition for early footholds in Syria’s recovery phase.
While Damascus has naturally drawn attention as the capital, Avdagic said ICOC is also seriously considering Aleppo, given its longstanding cultural and geographic links with Türkiye. He noted that Aleppo may offer logistical and relational advantages that are especially relevant to Turkish enterprises.
“Alongside Damascus, we believe we can also place Aleppo on our investment agenda due to its proximity to Türkiye both geographically and in terms of mindset,” he stated.
Avdagic also emphasized the unique opportunity to reconnect with members of the Syrian business community who previously lived in Türkiye but have now returned to their home country. Describing this as a chance for rapid engagement, he explained that Turkish firms might benefit from combining Syria’s lower operating costs with Türkiye’s technological expertise.
“We can gain some investment benefits quickly,” Avdagic added.
The ICOC’s focus on Syria comes at a time when broader geopolitical dynamics are shifting, and some areas of the country are slowly emerging from years of conflict. While challenges remain, the chamber appears to be preparing to act early, before other global competitors take a stronger lead.
By launching feasibility work in both Damascus and Aleppo, the ICOC is aiming to ensure that Turkish enterprises are not left behind in the race to invest in what could become a key frontier for regional economic rebuilding.
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