Syria has reached an $800 million (approx Sh103.6 billion) agreement with Dubai-based logistics giant DP World to redevelop the strategic Tartous port, part of efforts by the country’s new administration to accelerate economic recovery after years of conflict.

According to state-run news agency SANA, the deal was formalized on Sunday in Damascus between DP World and the General Authority for Land and Sea Ports. The signing ceremony was attended by Syrian President Ahmed al-Sharaa, underscoring the government's commitment to reopening the country to foreign investment.

Government officials hailed the agreement as a milestone in restoring Syria’s trade and transport capabilities. “This partnership is crucial for strengthening our logistics sector and modernizing port operations,” SANA quoted an official as saying.

Since the fall of former President Bashar al-Assad in December, Syria’s leadership has been actively working to re-engage with international businesses and re-establish the country’s position in the global economy.

DP World CEO Sultan Ahmed bin Sulayem, who was present at the signing, said the deal reflected confidence in Syria’s untapped economic capacity. “Tartous holds immense potential as a regional trade gateway. We aim to transform it into a world-class port that can boost exports and drive industrial recovery,” he said.

DP World, which operates dozens of ports across Europe, Asia, and Africa, has been steadily expanding its presence in the Middle East.

Qutaiba Badawi, head of Syria’s port authority, said the partnership with DP World went beyond infrastructure. “We are rebuilding Syria’s maritime identity and laying the foundation for long-term economic integration,” he said.

The Tartous project is the latest in a series of high-profile deals signed by the Syrian government in recent months. In May, Damascus signed a 30-year concession with France’s CMA CGM to manage operations at Latakia port. That same month, the government also secured a $7 billion energy deal with a consortium of Qatari, Turkish, and American firms aimed at reviving the national power grid.

Earlier this month, the U.S. announced it would remove Hayat Tahrir al-Sham from its list of designated terrorist organizations, signaling a shift in its Syria policy. This followed a presidential executive order from Donald Trump in June, lifting several long-standing sanctions on Syria to allow key sectors involved in reconstruction and governance to resume operations.

The decade-long civil war, coupled with sweeping Western sanctions, had left Syria’s economy in ruins. The recent easing of restrictions has raised hopes for a new phase of rebuilding and international reintegration.