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The performance of the Ministry of Economy under the dome of the People's Assembly... Minister Al-Khalil: Granting 32 investment licenses worth 1,357 billion pounds

2022-06-22T14:54:26.282Z


Damascus, SANA- The People’s Assembly discussed today, in its session, chaired by Hammouda Sabbagh, Speaker of the Council, the performance of the Ministry of Economy


Damascus-SANA

Today, in its session chaired by Hammouda Sabbagh, Parliament Speaker, the People's Assembly discussed the performance of the Ministry of Economy and Foreign Trade and issues related to its work.

In a presentation he presented before the council, the Minister of Economy and Foreign Trade, Dr. Muhammad Samer Al-Khalil confirmed that the ministry was able, through the policy of rationalizing import, to reduce the import bill gradually and systematically in proportion to the conditions of the national and global economy, indicating that the import decreased from 2011 to 2021 by 77 percent, although Syria is importing crude oil and wheat with the increase in the prices of materials and the cost of shipping globally.

Minister Al-Khalil explained that the number of importers last year amounted to about 4 thousand, while the number of import licenses rose to 19,800, an increase of 6 percent over the previous year. An increase in imports of batteries was noted by a thousand percent and energy panels by 1,700 percent according to needs, stressing that imports decreased by 14 percent since the beginning of the year until the end of last May, compared to the same period the previous year.

With regard to exports, the Minister of Economy said that exports increased annually between 2018 and 2021, but the highest value of exports during this period remained below the $1 billion threshold, while exports decreased during the first five months of this year compared to the same period in the preceding years due to the ban on the export of many The materials meet the needs of the local market, the rise in shipping costs and the prevailing global conditions, stressing that the trade balance deficit decreased by 66 percent between 2011 and 2021.

Al-Khalil indicated that since the issuance of the new Investment Law No. 18 of 2021 and to date, the Investor Services Center in the Syrian Investment Authority has granted 32 investment licenses with the value of assets for investment projects amounting to about 1357 billion Syrian pounds, providing 3000 job opportunities, and there are licenses under issuance, indicating that the projects included power generation and production. Cancer drugs, yeast, artificial drops, injections, medical alcohol, fertilizers, chargers and inverters, most of which are in the Damascus countryside, and there is an effort to increase projects in Aleppo.

As for the loan interest rate support program for projects, the Minister of Economy confirmed that 37 sub-programs were identified within this program, which included several projects, including factories, starch production, threads, fabrics, modern irrigation requirements, and others, according to specific criteria, including the spatial and technical criterion, the type of project, and the restart of damaged projects, revealing that the value of the support benefits from benefits. During the first five months of this year, it amounted to 900 million Syrian pounds.

In their interventions, a number of members called for allowing the establishment of industrial projects within the free zones, preparing a legislative instrument that grants facilities and exemptions for these projects, strict control of imported solar panels from a technical point of view, their compliance with standard specifications and their prices, improving the investment climate and increasing the number of external exhibitions to attract investors and introduce investment opportunities in Syria .

He called on the members to issue decisions that stimulate the export of surplus agricultural and industrial products after meeting the needs of the local market, announcing import prices and granting greater facilities and exemptions to imported industrial and engineering machinery, noting the need to rehabilitate a new free zone in Aleppo and to set up a mechanism to match supply and demand in the markets.

The members stressed the importance of increasing the import of raw materials for pharmaceutical laboratories, allowing the import of used agricultural tractors, exempting imported alternative energy equipment and supplies from customs duties, and reconsidering the decision to allow the import of car assembly parts.

In response to the members’ interventions, the Minister of Economy and Foreign Trade confirmed that the number of materials included in the import substitution program amounted to 71, 60 of which were in the industrial sector and 11 in agricultural. Adhesive, yeast, infant formula, plastic wood, etc.

Minister Al-Khalil stressed that there is no limitation of import licenses to specific persons, knowing that the costs of importing some materials are large, and therefore the number of applicants to import them is few, explaining the importance of working on a joint formulation of a national strategy to support small and medium enterprises.

Minister Al-Khalil also indicated that the decision to allow the import of car assembly parts has not been implemented to date, pending the study of the conditions to be met, pointing out that last week it was allowed to import used fire engines to meet the needs of industrial establishments.

The Council also referred the draft law that includes amending some articles of Law No. 2 of 2009 on tourist work sites to a joint committee composed of the constitutional and legislative affairs and services committees to study a topic and prepare the necessary report on it.

The session, which was attended by Minister of State for People's Assembly Affairs Abdullah Abdullah, was adjourned to 11 am tomorrow, Thursday.

Waseem El-Adawy and Louay Houssam

Follow Sana's news on Telegram https://t.me/SyrianArabNewsAgency

Source: sena

All news articles on 2022-06-22

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