Industry The number of private industrial facilities licensed according to the Industry Law 21/1958 reached 1,441 in 2019 while four were licensed in accordance with the Investment Law. The total capital of the licensed...
Monetary The 100-year old Syrian Pound came close to hovering near the SYP 1,000 to the US Dollar mark. The Syrian Pound was issued for the first time in 1919. It was linked to...
Energy Domestic oil production is forecasted to reach 90,000 barrels per day in 2020 compared with 24,000 barrels per day in 2019 following the return of government control over oil fields in northern Syria....
Monetary Sources confirmed that the US Dollars deposited into the Lira Intervention Fund by Syrian businesspersons, which reached $1 billion (US) initially, would be pumped into the local foreign exchange markets. As a result,...
Finance Governor Hazem Qarfoul of the Central Bank agreed with his Iranian counterpart to set up a joint Syrian-Iranian banking committee in anticipation of incorporating a joint bank between the two countries. The Damascus...
Commerce Russian Prime Minister Dmitry Medvedev approved a proposal by the Crimean authorities to formalize economic relations with Syria in order to facilitate cross-border trade between Russia and Syria given the shorter maritime distance...
Real Estate Construction works began on Delta Tower, the first real estate development project in Marota City to receive a building permit. The Governorate of Damascus is planning to streamline its licensing procedures with...
Corporate A special committee has been formed to rewrite provisions of the Companies Law to encourage local and foreign investments in the reconstruction phase. The Syrian Companies Law is already one of the most...
Petroleum According to the Minister of Petroleum and Mineral Resources Ali Ghanem, Syria could start extracting commercial quantities of offshore natural gas by 2023 after exploration activities in the Mediterranean Sea began last October...
Diplomacy President Bashar Al-Assad accepted the credentials of the Brazilian and Indian ambassadors to Syria. With these recent appointments, officially all member states of the BRICS countries now have ambassadors in Syria. The Baghdad...