Syria, Asharq Al-Awsat – Syria has approved 52 industrial and transport projects worth 600 million U.S. dollars for Syrian, Arab and foreign investors, Syria’s official SANA news agency reported Tuesday.
Syria’s Supreme Council for Investment said the projects would create 3,250 new jobs.
SANA said that the main industrial projects included a project to produce and manufacture black cement and a project to produce olive oil.
Syria encourages investment by providing for tax exemptions of up to 10 years and allowing investors to own or hire the necessary land and real estate to set up their ventures. They also permit the investors to transfer capital out of Syria after five years of setting up the project, said the report quoted by German news agency “DPA.”