Damascus-SANA
The Supreme Investment Council, during its meeting today headed by Eng. Hussein Arnous, Prime Minister, followed the projects granted investment licenses in accordance with the provisions of Investment Law No. 18 of 2021 and its executive reality, the stages of production that it has reached and the extent of its contribution to securing part of the local market’s need for various commodities and materials. Especially in light of the difficult circumstances the country is going through following the catastrophe of the devastating earthquake that caused great human and material damage.
Engineer Arnous stressed that all government institutions are concerned with the investment file, improving the investment environment and contributing to attracting investors, to set up various projects that contribute to achieving sustainable and balanced development in various governorates and returning the wheel of the economy and production to what it was previously, in addition to encouraging the business sector and economic actors to invest in Renewable energies, and defining areas designated for the establishment of these projects for their important role in securing energy carriers for the agricultural and industrial sectors, and thus improving the status of the national economy in general.
The Council approved the guiding guide for joint investment formulas between public entities and private sector investors, which helps to determine the appropriate investment formula, in terms of features, content, standards and legal reference governing this investment and the institutional frameworks concerned with each formula.
The Minister of Local Administration and Environment, Eng. Hussein Makhlouf, gave a presentation on indicators and the reality of investment and licensed projects in the industrial cities after the issuance of the investment law, while the Director of the Syrian Investment Authority, Medien Diab, explained that the number of projects granted investment licenses reached 6 projects this year, with an estimated cost of more than 48 billion pounds. It provides 322 job opportunities.
It is noteworthy that the volume of investments attracted according to Investment Law No. 18 of 2021 has so far reached 58 projects distributed in the governorates of Damascus, Aleppo, As-Suwayda, Tartous, Latakia, Homs and Hama, and included the sectors of electricity, energy, pharmaceutical, food, chemical, mineral, textile, wood, building materials, agriculture, services and tourism, and their estimated cost amounted to more than From one trillion and 658 billion Syrian pounds, it provides 4,634 job opportunities, at a time when 12 projects started actual production, and 6 projects started installing machines in preparation for starting experimental production, while 18 projects obtained construction licenses and started implementing their infrastructure.
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