Higher Investment Council: Completing procedural guides, executive instructions for new investment law

Damascus, SANA- The Higher Investment Council during its meeting on Monday, headed by Eng. Hussein Arnous who is tasked with forming the cabinet, decided to speed up the necessary measures to complete the procedural guides and the executive instructions for the new Investment Law No. 18 for the year 2021 at a maximum time limit of September 15, so that all investors could benefit from the advantages and incentives which the law includes, in addition to simplifying the procedures of any investment project.

In its first meeting after the issuance of the new investment law, the Council affirmed accepting all applications submitted by investors to the Syrian Investment Agency in all investment fields and their direct registration, and authorized the Agency to grant   licenses to investment projects after submitting them to the Higher Investment Council within 15 days for approval and taking the necessary action till the implementation of the executive instructions and procedural guides.

The higher Investment Council also discussed the procedures and decisions to be taken to ensure the continuity of investment projects and not to stop any of them, as Eng. Arnous underlined the importance of dealing seriously with the investment file by all bodies in light of the issuance of the new investment law and completing the measures of implementing it with the aim of creating a transparent, competitive and attractive investment environment for the investors, which would contribute to expanding the production base and finding more job opportunities.

He added that investment in the industrial cities and zones is available to everyone in light of the availability of services and granting approvals immediately.

The meeting underlined the importance of dealing with flexibility and facilitating procedures related to investors’ requests and providing incentives for the investments within industrial cities and zones.

Rafah al-Allouni/ Ruaa al-Jazaeri

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