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Syria Agrees to New Contract with CMA CGM to Operate Latakia Port Container Terminal

Container Ship CMA CGM Rigoletto moored at a container terminal at the Port of Los Angeles in Los Angeles, California on February 3, 2025. (AFP)
Container Ship CMA CGM Rigoletto moored at a container terminal at the Port of Los Angeles in Los Angeles, California on February 3, 2025. (AFP)
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Syria Agrees to New Contract with CMA CGM to Operate Latakia Port Container Terminal

Container Ship CMA CGM Rigoletto moored at a container terminal at the Port of Los Angeles in Los Angeles, California on February 3, 2025. (AFP)
Container Ship CMA CGM Rigoletto moored at a container terminal at the Port of Los Angeles in Los Angeles, California on February 3, 2025. (AFP)

Syria's General Authority for Land and Sea Ports said on Wednesday that it had agreed to a new contract with French shipping and logistics group CMA CGM to operate the container terminal at the Latakia port.

The Syrian port authority said in a statement that the contract would include new terms and mechanisms, and the settling of all previous dues by both sides, without providing details.

CMA CGM did not immediately respond to a request for comment.

A Syrian source familiar with the negotiations told Reuters that the talks leading up to the new contract included changes to revenue distribution and the length of the contract.

The source said Syrian authorities had hoped to negotiate a larger share of the revenues than the previous contract, a shorter timeframe for the terminal lease and technical improvements, including a new ship deck.

Latakia port is Syria's main maritime gateway. CMA CGM began managing Latakia's container terminal in 2009 and the contract was repeatedly renewed, most recently in October 2024 for an additional 30 years by authorities under Syria's now-toppled leader Bashar al-Assad.

Assad was ousted from power on Dec. 8 by a lightning rebel offensive, and a transitional government is now in power.

CMA CGM is controlled by Franco-Lebanese billionaire Rodolphe Saade and other members of his family which has roots in Syria.

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Saudi Arabia’s Mandatory List Boosts Local Companies in Government Procurement

A factory in Saudi Arabia (Asharq Al-Awsat)
A factory in Saudi Arabia (Asharq Al-Awsat)
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Saudi Arabia’s Mandatory List Boosts Local Companies in Government Procurement

A factory in Saudi Arabia (Asharq Al-Awsat)
A factory in Saudi Arabia (Asharq Al-Awsat)

Saudi Arabia’s Mandatory List has emerged as a strategic lever to strengthen the role of local businesses in public sector procurement.

Designed to drive demand for Saudi-made products, the list not only expands market opportunities for domestic manufacturers but also ensures that government entities procure reliable goods that meet stringent quality standards.

Last year, government tenders that included items from the list surpassed 46,600, with a combined value of SAR67.6 billion ($18 billion).

The Local Content and Government Procurement Authority has been steadily updating the list, adding about 407 new products in 2024.

This week, officials announced a further expansion, introducing 105 additional products across seven key sectors: pharmaceuticals and medical supplies, construction, transportation and logistics, furniture, cybersecurity, and information technology.

Authorities say this effort underscores a broader commitment to make local content a cornerstone of Saudi Arabia’s future economy. By prioritizing Saudi products, the government aims to empower national industries, spur innovation, and increase job opportunities while reducing reliance on imports.

The latest update is also part of policies favoring small and medium enterprises (SMEs) and companies listed on the Saudi financial market.

The initiative seeks to strengthen local supply chains and raise the readiness of domestic factories to fulfill public sector demand.

According to the Authority, expected government spending on the newly added products exceeds SAR2.3 billion ($613 million). More than 100 Saudi factories are already equipped to meet this anticipated demand.

These measures form part of broader efforts to maximize the economic impact of public spending. In the second half of last year alone, a series of new policies, strategic agreements, and national programs contributed to economic gains exceeding SAR80 billion ($21.3 billion).

The Authority also integrated local content requirements into 54 privatization projects valued at SAR269 billion ($71.7 billion). Of these, 24 projects have already achieved their targets, representing overSAR 131 billion ($34.9 billion) in contracts aimed at boosting private sector participation and employment.