‘My phone won’t stop ringing’: Turkish businesses eye broad investments in Syria

Ibrahim Fuat Ozcorekci, Chairman of the Türkiye-Syria Business Council at the Foreign Economic Relations Board (DEIK), stated that the Turkish business community is highly enthusiastic about investment opportunities in Syria.

“My phone won’t stop ringing. Questions like ‘When should we go, which routes are safe, and how secure is trade?’ are flooding in,” he shared.

In an interview with pro-government hurriyet.com.tr, Ozcorekci explained that investment opportunities in the region have gained significant attention following the fall of the Bashar al-Assad regime on Dec. 8. Describing the intense demand, he remarked: “Türkiye is Syria’s natural partner. There is a significant Syrian population that has been living here for 14 years. An entire generation has grown up alongside us, which is a notable advantage of Türkiye’s soft power.”

‘No better alternative than Türkiye for Syria’

Ozcorekci highlighted that trade between Türkiye and Syria, which stood at $250 million when the first Syrian refugee convoy arrived in 2011, has now reached $2 billion. He attributed this growth to Türkiye’s logistical advantages and collaboration potential.

“There are over 15,000 businesses owned by Syrians in Türkiye, predominantly in the food, textile, and machinery sectors. A large, Turkish-speaking Syrian population has emerged here. We know them, and they know us. From a logistics perspective, Türkiye has no better alternative in the region,” he explained.

Drawing attention to the existing activities of Turkish businesses in regions like Zeytin Dali (Olive Branch), Ozcorekci said: “Sectors like food, plastics, iron and steel, and construction have already been active there. Over the past three years, small industrial zones have started to emerge in border areas.”

‘Turkish investors excited about opportunities in Syria’

Ozcorekci stressed the importance of establishing a logistical corridor for the new Syria, emphasizing the reopening of the truck corridor to Gulf countries. “Investors are extremely excited, but it’s crucial to proceed cautiously. We need to observe the region’s economic recovery. There are talks of elections in March, so it’s wise to avoid rushing,” he said.

He also underlined Türkiye’s strategic advantage of being among the first countries, alongside Qatar, to open embassies in Syria.

“People from all sectors, from telecommunications to food, are reaching out to DEIK for guidance. Even ordinary Syrian citizens approach me with questions, eager to return. An entire generation grew up seeing Türkiye, making this a matter of soft power. Türkiye must leverage this strength effectively on the ground.”

‘Turkish companies expanding presence in Syria’

Highlighting the current investment momentum, Ozcorekci outlined several developments:

• Onvo, a prominent Turkish electronics producer, is gearing up and has activated its Syrian dealerships, rapidly expanding its retail network.
• A major supermarket chain is surveying the region to pioneer market chain setups.
• LC Waikiki, a leading Turkish textile brand, is making significant preparations, inspiring other apparel manufacturers to view this as an opportunity.

• A railway delegation is working on revitalizing a project from 2009 to reorganize the region’s old railway network.
• The resumption of flights by Turkish Airlines (THY) is expected to play a critical role, serving as a form of economic diplomacy and triggering numerous developments.
• Companies from Europe and the Far East are exploring investment opportunities in Syria, often in partnership with Turkish firms. For instance, a foreign aviation company recently sought Turkish partners for joint ventures.

Ozcorekci predicted that by 2025, border cities such as Gaziantep, Hatay, Kilis and Sanliurfa could transform into logistical hubs for the region.

“We might even see international firms previously absent from the area opening offices in places like Sanliurfa,” he concluded.