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Syria’s New Investment Law Opens New Doors to Iranian Companies: Minister

Syrian Economy and Foreign Trade Minister Mohammad Samer al-Khalil invited Iranian companies to take the opportunity to work with his country under new regulations that allow for investment in a broad range of sectors.

Speaking to Tasnim in Damascus on Friday, al-Khalil said a newly-passed law on investment offers a wide range of services and advantages to Iranian companies and allows them to make investment in various sectors.

Hailing the capabilities and experiences of Iranian enterprises and highlighting the ample opportunities for investment in his country, the Syrian minister expressed Damascus’ serious resolve to broaden trade ties with Tehran.

He said the new investment law includes wide-ranging exemptions on customs duty and tax as well as extensive guarantees for the investors.

Syria is currently working on a road map to foreign investment and has prepared many plans, providing companies with plenty of opportunities, al-Khalil stated.

“Iran is one of the major countries with which Syria is cooperating. There are many contracts between Syrian and Iranian companies from the state-run and private sectors. These contracts can be developed,” he added.

The minister noted that Syria and Iran look for relations beyond ordinary trade exchanges and are laying the foundation for industrial consolidation in various economic fields.

Last week, Iranian Minister of Industry, Mine, and Trade Reza Fatemi Amin traveled to Syria and expressed Tehran’s readiness to bring back to life Syrian factories that were shut down after the outbreak of war in the Arab country.

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