Baladna Company for Trade and Investment LLC “Baladna”, a subsidiary of Baladna Company Q.P.S.C., signed a memorandum of understanding with the Turkish Gurmen Group, to discuss opportunities to develop, establish and operate a textile factory in Syria. The memorandum sets 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.
The memorandum of understanding was signed today at The Eighteen Tower in Lusail City, Doha, where it was signed by Mr. Ramez Al Khayyat, Chairman of Baladna Company, and Mr. Ramzi Gur, Honorary Chairman of the Board of Directors of Gurmen Group. The signing ceremony witnessed the presence of Mr. Saifullah Khan, Group Chief Financial Officer and Investment Officer in Baladna, Mr. Paul Kenny, CEO of Baladna, and Mrs. Yasmin Gur Solmaz, Chairman of the Board of Directors of Gurmen Group, along with a number of senior executives and representatives of the two companies.
Under the memorandum of understanding, the two parties will study the feasibility of establishing and operating a textile factory in Syria through a potential joint project. This cooperation is based on the experiences and capabilities that the two companies enjoy, with the aim of exploring opportunities to develop a competitive industrial activity in the textiles sector, capable of meeting the needs of the local market and reaching regional and international markets.
The cooperation aims to contribute to the development of the local textile industry, enhance the transfer of knowledge and expertise, provide job opportunities, and raise manufacturing capabilities in Syria. The proposed project will undergo a feasibility study and a joint business plan to evaluate its commercial feasibility and determine the requirements for its implementation.
Commenting on the signing of the memorandum, Marek Warszvoda, CEO of the group in Baladna, said: “Our cooperation with the Gorman Group reflects our commitment to exploring investment opportunities that contribute to supporting the economic recovery in Syria and developing its productive sectors. We see promising potential in the textiles sector, especially through partnerships that combine international industrial expertise with local capabilities. 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.”
For her part, Yasmin Gur Solmaz, Chairman of the Board of Directors of Gurmen Group, said: “Syria has a long history in the textile industry, and a base of industrial expertise and qualified professional competencies. Through our cooperation with Baladna, we seek to explore opportunities to develop a modern industrial facility that benefits from our expertise in production, technology and international markets. We believe that combining the capabilities and expertise of the two companies can contribute to establishing a competitive and sustainable industrial activity and support the development of the local textile sector.”
Baladna continues to implement its investment strategy in Syria by developing an integrated project that includes a farm and a dairy factory, in addition to building strategic partnerships aimed at enhancing local production and supporting food security in the country. The company also cooperates with the International Finance Corporation to study opportunities to develop 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, Baladna is studying opportunities in multiple agricultural and industrial sectors, including the textile industry, sugar production, and strategic crops. It is expected that these initiatives will have a significant impact on the labor market by providing direct and indirect job opportunities on a large scale, attracting international expertise and introducing modern technologies, which will contribute to the recovery of productive sectors in Syria and enhance economic growth in the long term.
Founded in Türkiye in 1985, Gurmen Group is a prominent business group active in the textiles, fashion and retail sectors. The group has extensive experience in clothing manufacturing, industrial processes and international markets, which enhances the opportunities for proposed cooperation through its technical knowledge and specialized operational capabilities.