Syria stresses efforts to improve its economy, new tax laws
Syria, Economics, 4/26/2002

The Syrian minister of the economy Ghassan Al-Refa'e has stressed during a press conference he held in Damascus that efforts are ongoing to improve the situation of the Syrian economy and to adopt new laws and legislation in order to attract foreign investments.

Al-Refa'e who stressed the Syrian government support to the people's campaign to boycott the American merchandise, said that the Syria trade law will be changed very soon and means of changing the taxation system is underway as well as efforts to unify the exchange rate of currency.

This press conference, however, was the first of its kind held by al-Refa'e after he had held several special press meetings during the two past days for promoting for the conference on encouraging investment which Damascus will host next week. This conference which will be held at the Umayyad's conferences hall in the outskirts of Damascus will receive 900 persons from 15 Arab states and regional and international economic establishments.

Al-Refa'e said that among the main challenges the ministry faces are the current problems while the long-term second challenge is based on the question on "what we want Syria to be economically and socially during a certain period of time." He explained the basic need is first that "understanding the need of the economy, reviving it and this will be through boosting the economic activity through foreign investments and liberalizing prevailing trade regulations and creating new jobs emerging from this movement."

He added that the possible steps to achieve that is "rapid renovation of the foreign trade system," stressing that "the timetable for that will end in four months as from now." On the other hand, data of the central bank for statistics unveiled the preliminary estimates indicate that growth rate in the GDP reached 2.8 % in 2001, an increase representing 2.2% over the year 2000.

Previous Stories:
  Arab businesswoman regional seminar: Activating women's role in economic, business development   (4/23/2002)
  Syria opens up for founding private banks   (4/22/2002)
  A regional seminar for Arab business women   (4/20/2002)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search