Syria has made some changes to how easy it is to start a business in the last ten years, but it still ranked low in the 2010 Doing Business report, dropping from 133rd to 134th in how easy it is to start a business. In 2009, starting a business took 17 days, cost almost 28% of GNI per capita, and had the highest minimum paid-in capital in the world at 1,013% of income per capita. This was 9 times the average for the area. In 2010, Syria cut the capital requirement even more, bringing it down to 355.1% of the income per person.
It is now an industrialized country, and most of what it makes, in a wide range of industries, is done with high-tech tools, methods, and technology. This came about because of a lot of hard work and quick growth
State of Syria’s economy
The Hi-Tech industry has the fastest growth rate, which is about 8% each year. Syria has a mixed economic system. People have less freedom, but the government has tight control over the economy. Global macro models and analysts at Trading Economics say that Syria’s GDP will reach 27.26 billion USD by the end of 2021. Based on our economic models, Syria’s GDP is likely to reach a steady state of $16.6 billion in 2022. Syria’s factories have grown from small businesses that made and processed agricultural goods to large corporations.
Possible business start-ups
The following business can be opened in Syria:
A plant for making oil
Oil is one of the most essential things that every home needs. Every day, more and more people need different kinds of oils. Because of this, more and more people are starting businesses to get oil out of seeds. You can start this business at any time of the year, there is no bad time to start an oil mill.
The business of making fertilizer
Syria is getting better at running its fertilizer business. Anyone can start a company that sells fertilizer on a small, medium, or large scale. Small distributors usually only work in one district, while large distributors usually work in an entire state or sometimes in more than one state. Fertilizer distribution is a booming business that looks like it will continue for a while. You can start this business with a small amount of money.
Production of Bio-diesel
In the bio-diesel factory process, ethanol or fatty oil (Circus oil) made from both plant and animal fats are used. Bio-diesel emits no pollutants, making it environmentally benign, also, bio-diesel emits far fewer pollutants than normal diesel fuel. Because of this, bio-diesel is becoming more well-known and popular in Syria. If you want a low-cost way to make money, Bio-diesel manufacturing is a great choice. Starting a company to make biodiesel required a lot of planning and research.
The making of latex rubber thread
As more types of latex rubber thread are made and used around the country, the market in Syria is likely to grow a lot over the next few years. One thing made from processing rubber is latex thread. It is made by extruding synthetic latex through capillaries into the coagulant solution, then washing, drying, and vulcanizing the coagulated wet filament to make an elastic thread. The rubber tree’s sap is taken out.
The farming industry
Syria’s agriculture is based on a system of intensive production. This is because of the need to make up for the lack of fresh water and arable land. Agriculture is still growing because researchers, farmers, and businesses that work with agriculture work together closely.
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