SIA, RPC sign MoU to Activate Bilateral Cooperation

DAMASCUS, (ST) -The Syrian Investment Authority (SIA) and the Regional Planning Commission (RPC) recently signed a Memorandum of Understanding to activate joint cooperation between the two bodies.

The MoU included an exchange of information, data, qualifying cadres capable of dealing with technologies and modern skills in various fields, achieve the state’s development strategy through direct public and private investment according to a systematic plan to consolidate and develop the partnership between research and planning bodies and administrative authorities in Syria.
Director of the Syrian Investment Authority, eng.Hala Ghazal, confirmed importance of being the strategic partners in work and the results of this business should beintegrated concerning the investment map, which will help the investor to choose the right places for the implementation of his project, citing the former and successful experiences with the Regional Planning Commission.

For his part, Director of the General Commission for Regional Planning, Dr. Irfan Ali, talked about the reality of the investment process, which can be achieved without the support and incentives, adding that the memorandum of understanding aimed to formulate the basis of a joint venture between the two bodies to accomplish an electronic portal that frames core features that will be relied upon by the investor to give him spatial incentives, pointing out the need to guide the process of major investment for the various sectors at this stage in Syria.

The agreement helps to produce a map of contributing to the direct investment incentiveswith spatial mechanism associated with resources and components of development and to restructure the exemptions and investment incentives locally and regionally in a way that serves the balanced development in addition to the creation of a unified database for the possibility of an electronic link with it.

The Regional Planning Commission,according to the Memorandum of Understanding, to train qualified cadres of the two teams through training sessions in the areas of geographic information systems (GIS), while the Investment Authority will coordinate training workshops on the concepts of investment and promotion and laws governing investment in Syria.

The Memorandum of Understanding is considered as a general framework for cooperation between the two parties and a reference for all activities and events that will be agreed upon. The projectswill be implemented through the formation of joint working groups to identify needs to be implemented within the areas of cooperation agreed upon. The MoU is valid for 5 years to complete the joint and existing programs.

Sh. Kh.