President al-Assad issues Law No. 2 amending some provisions of Investment Law No. 18

Damascus, SANA-President Bashar al-Assad issued Law No. 2 for the year  2023, which includes amendments to some provisions of Investment Law No. 18 for the year 2021, with the aim of finding an appropriate mechanism to avoid institutional restrictions, simplify investment procedures in the field of real estate development, and focus on defining responsibilities and roles among the various organizational structures concerned with investment, in order to optimally benefit from the exemptions, advantages and facilities granted by Law No. 18.

The decree comes in view of the fact that the establishment of investment projects for the purposes of real estate development or for the purposes of urban development contributes to providing the elements for comprehensive and balanced growth for the different regions and in line with development priorities.

The Investment Law No. 18 formed a unified umbrella for investment in Syria, and dealt with the state of dispersion that was in previous laws and unified their reference through a unified law, particularly after the transportation sector was damaged as a result of the terrorist war waged on Syria, which entails benefiting from the advantages and facilities of Investment Law No. 18.

Bushra Dabin/ Ruaa al-Jazaeri

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