Agricultural Investment Law
||Legislative Decree 10/1986
|DATE OF PROMULGATION
||Promulgated by President Hafez Al-Assad on February 26, 1986
- Provides for investment projects in the agricultural sector carried out by a joint stock company jointly owned by the state and private partners.
- Incentives include tax exemptions for up to seven years after the first profitable year.
- Import restrictions are reduced.
- While it remains in effect, this law has been overtaken to a certain extent by Investment Law 10/1991 initially and subsequently by Legislative Decree 8/2007.
- The investment structures and exemptions granted in this law are different to those provided for in Legislative Decree 8/2007.
- This law was issued at a time when the economic situation in the country was in decline due to a shortage in the state’s foreign currency reserves.
- In an effort to attract private capital into the economy, the agricultural sector was opened up for investment.
- This law coincided with the economic crisis of 1986.