Syria approves investments worth 500 million dollars

Damascus, Aug 3 (Prensa Latina) Madian Diab, director of the Syrian Investment Authority, on Wednesday revealed that 37 industrial investment projects, worth equivalent 550 million dollars, were approved.

August 3, 2022
11:41

The investments were licensed in virtue of the new Investment Law No. 18, which offers enormous facilities, avoids red tape and is the cornerstone for an encouraging investment environment in the country, Diab explained, quoted by al-Watan newspaper.

He detailed that the new projects provide 3,534 job opportunities, while five plants have already entered the production phase.

A huge facility for dairy products in Hama province has already started production despite that it was scheduled to go into production in 2025, thanks to the Investment Law that helped accelerate the pace of work, Diab said.

Syria approved a new investment law in May 2021 that encourages establishing projects that contribute to the reconstruction of the country.

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