Sources in the Damascus Investment Authority recently reported that five new thread manufacturing factories are to be established in Syria, under the framework of country’s Investment Law Number 10.
The authority sources added that Syrian, Lebanese and Saudi businessmen have invested a total of 1.5 billion Syrian pounds ($28 million) in these industrial projects so far.
The investment law, enacted in 1991, promotes investment in Syria by offering tax exemptions and privileges to attract foreign, Arab and national investments.
According to Al-Sharq Al-Awsat daily, the Syrian authorities have approved seven additional projects of this type, to be undertaken in the future, at a cost of two billion SP. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)
