At a cost of about a trillion pounds, 16 projects were granted an investment license according to the new investment law

Damascus (ST):  The Supreme Investment Council approved, during its meeting, headed by Prime Minister Hussein Arnous, granting the necessary investment licenses for a project to manufacture plastic filaments and plastic fabric in Aleppo and two projects to establish laboratories to test alternative energy equipment.

The Council decided to raise the minimum value of fixed assets to establish laboratories to test alternative energy equipment to 10 billion pounds instead of 5 billion pounds, in order to ensure quality and efficiency standards for the equipment.

The Council conducted a follow-up of the implementation stages of investment projects that obtained an investment license and the applications submitted for an investment license in accordance with the provisions of Law 18 of 2021. The number of projects that obtained an investment license under the law amounted to 16 projects with an estimated cost of about one trillion Syrian pounds and providing 1201 job opportunities, including 13 projects in the field of industry and 3 in the field of renewable energy.

Engineer Arnous reiterated the emphasis on investing in cities and industrial areas, giving investors the necessary facilities to invest in them, and not referring investment requests to committees, except in the event that investment in cities and industrial areas is not possible for reasons that are precisely defined, pointing to the need for continuous follow-up of projects that have been granted investment licenses and coordination with the authorities concerned to speed up putting them into service, which would provide more job opportunities, increase production and reduce prices.

K.Q.