New Strategy for Development of SMEs

DAMASCUS, (ST)- A plan by Investment Association, for this year, focused on several strategic points. The goal of this strategy aims at attracting  domestic and foreign investments, finding legislative, encouraging environment, simplifying procedures, rehabilitation of human resources and providing scientific data to the investor in order to define the investment environment in Syria, giving great importance to Small Medium Enterprises (SMEs) due to their economic and development role, particularly in light of the current circumstances.

A special article concerning this strategy will be specialized in investment law, which is being amended will include features and incentives.

Other government programs supporting for such economic activities as youth employment program and rural woman program and the work to reduce the minimum of the capital of projects through the access under the umbrella of investment,

 It is worth mentioning that the legal structure occupies an essential part within the plan of the Investment Association strategy as a mainstay to attract investment opportunities. The Investment Association seeks to prepare a new investment law     to keep pace with developments and promote investment sectors with comparative advantages and turning it into competitive advantages.

On the other hand, the Investment Association will prepare several studies on the economic feasibility of projects to be launched as investment opportunities, according to the development plans, relative and absolute features for each region with the work to prepare the Special Geographic Atlas, which contains investment opportunities in a manner consistent with the national framework for regional planning in cooperation with the Regional Planning Commission and other concerned bodies.

In order to inform investors on the investment environment in the country,  the Investment Association is working to accomplish the economic, investment annual report containing important information about the investment and the local economy in general through the presentation of scientific needed data, that contribute to provide a clear vision of the prospects of investment with work on the launch of the Foreign Direct Investment ( FDI) in 2010, which eventually leads to the publication of this concept in the effective circle economically and administratively.

With regard to the simplification of the procedures, the Investment Association is following up the works of an engineering team to simplify the business environment and connect the Association electronically to simplify procedures with linking its branches.

The plan included the rehabilitation of its promotional staff through an effective training program and supporting it with experienced and qualified cadres, adopting the policy of case management, activating the external and internal promotion and marketing in cooperation with the businessmen and chambers of commerce, industry and agriculture.

Sh. Kh.