The project has an estimated cost of 15 billion Syrian pounds (6 million dollars) and will create 34 job opportunities, director general of the National Investment Authority, Madian Diab said.

He explained that the production of the new plant will cover the country’s needs for medicines of this kind and will reduce imports; and will also break the imposed blockade that hinders the purchase of this type of drugs.

On the other hand, he revealed that four new projects were approved under the new Investment Law, including one for alternative energy, worth 150 billion Syrian pounds (60 million dollars) with a generating capacity of 50 to 100 megawatts.

Two other solar power projects were approved in Hassieh industrial zone in the center of the country, worth 8 million dollars.

In addition, a sanitary diaper and toilet paper production facility was licensed near Damascus at a cost of 20 million dollars.

Syria recently passed a new investment law, which encourages the establishment of projects contributing to the reconstruction of the country and the achievement of economic development.

The legislation encourages and protects foreign and local capital, and provides an easy environment for establishing highly productive industrial projects and investments.

Among other favorable terms, the Law guarantees equity in the granting of investment opportunities and prevention of monopoly, in addition to the simplification of administrative procedures.

pgh/lcr