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The Supreme Investment Council agrees to include some agricultural activities within the provisions of Investment Law No. 18

2022-10-30T11:28:58.153Z


Damascus, SANA- The Supreme Investment Council reviewed during its meeting today, headed by Engineer Hussein Arnous, Chairman of the Council of Ministers


Damascus-SANA

During its meeting today, headed by Prime Minister Hussein Arnous, the Supreme Investment Council reviewed the reality of the implementation of projects that were granted licenses in accordance with Investment Law No. 18 of 2021, which so far amounted to 47 projects worth 1.5 trillion and 522 billion Syrian pounds and provide 4,062 job opportunities.

The council agreed to include some agricultural activities within the provisions of the investment law and to benefit from the advantages and facilities granted by the law and approved the minimum limits for these activities, which include the establishment of a factory for citrus juices and fruit tree products, their manufacture and packaging, the establishment of marketing companies specialized in marketing agricultural products in the internal and external markets, and fish breeding. Fresh water in earthen ponds and setting up dryers for yellow corn.

The Council also approved the proposed partnership formulas between the Ministry of Tourism and the Tartous City Council to develop Karnak Beach with the aim of expanding popular and internal tourism. The expansion of palm trees cultivation in appropriate areas and the rehabilitation and development of the General Company for the Tire Industry in Hama were discussed. The concerned authority was requested to study the formulas. The appropriate legal framework to rehabilitate the company in partnership with the private sector.

Engineer Arnous stressed the importance of benefiting from the advantages and facilities granted by the new investment law and the need to expand the package of agricultural production and industrialization projects in order to enhance food security, secure various commodities and basic materials and encourage investors to invest in this sector, especially in light of the current international conditions and developments, and in a manner that reduces the import bill as much as possible. It provides foreign exchange to the state's public treasury.

The Prime Minister stressed the importance of continuous follow-up and communication with investors in order to overcome any obstacles to the implementation of projects to ensure that they are put into actual production on time.

The Syrian Investment Authority recently granted 3 investment licenses, which included a tourism project in the countryside of Damascus and a project to produce asphalt shredded in the industrial city of Adra, in addition to a project to produce electric power using photovoltaic panels in the industrial city of Hasya, Homs.

During the meeting, it was stressed the importance of realizing the projects granted value-added investment licenses to the local market in terms of providing them with a number of necessary materials and commodities, especially agricultural and food, and the real job opportunities that they actually provided or will provide in the future, whether in the completion stage or when these projects are put into service.

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Source: sena

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