Economy minister says Syria wants foreign investment
Syria, Economics, 2/20/2003

Syria's Minister of Economy and Foreign Trade, Ghassan Rifaee, has described the Syrian new investment laws as positive and generous compared to the existing laws in a number of the world countries.

In a press conference held on Wednesday attended by a number of local, Arab and international media correspondents, Rifaee called on the local and expatriate Syrians to invest in their home country and participate in building its national economy.

Rifaee underlined Syria's political leadership and government's interest in the Syrian free zones which was best reflected by the issuance of three decrees which stipulated for the establishment of three new Syrian free zones in the governorates of Hasaka, Deir Ezzour and Lattakiya.

The economy minister cited the ongoing economic feasibility studies for the establishment of two additional free zones in the midland region close to the Syrian-Lebanese borders and another at the coastal region due to the strategic position Syria occupies as a passing gate for the Asian, European, Africa and Arab Gulf economies.

A number of facilities were given to industrial investors by the latest decree of investment system in the Syrian free zones which included the allowance of exporting 25 percent of their products within the free zones to the Syrian market, minister Rifaee added.

Rifaee said that the latest investment decree allowed service, industrial, commercial investments including banks, electro-services, hotels, restaurants medical centers, insurance companies and others.

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