Syria Restructures Economic Administration to Enhance Oversight of Foreign Companies
September 9, 202586 ViewsRead Time: 2 minutes
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In a move aimed at improving the investment climate and increasing the efficiency of economic administration, the Syrian Ministry of Economy and Trade has issued a decision to transfer the "Branches and Agencies of Foreign Companies" department from the Foreign Trade Directorate to the Companies Directorate of the General Administration for Internal Trade and Consumer Protection.
This decision comes as part of a series of administrative reforms aimed at unifying the administrative reference for monitoring the activities of foreign companies operating in Syria, enhancing oversight of these companies' operations, ensuring their compliance with local legislation, improving administrative performance efficiency, and simplifying procedures.
The decision stipulates the transfer of all employees in the transferred department while retaining all their employment rights, reflecting a commitment to benefit from existing expertise and maintain job stability.
This step aligns with the administrative rehabilitation efforts being undertaken by the ministry, which recently included the reopening of the Companies Directorate on July 31 after its rehabilitation and development of its administrative and service structure.
This structural amendment coincides with the preparation of a new income tax law project that includes unprecedented exemptions, indicating a comprehensive approach to improving the business environment and attracting foreign investments.
These measures reflect Syria's attempt to adapt to economic changes after the war and prepare for the reconstruction phase, despite the significant challenges it still faces regarding international sanctions and the difficult economic situation.
This decision comes as part of a series of administrative reforms aimed at unifying the administrative reference for monitoring the activities of foreign companies operating in Syria, enhancing oversight of these companies' operations, ensuring their compliance with local legislation, improving administrative performance efficiency, and simplifying procedures.
The decision stipulates the transfer of all employees in the transferred department while retaining all their employment rights, reflecting a commitment to benefit from existing expertise and maintain job stability.
This step aligns with the administrative rehabilitation efforts being undertaken by the ministry, which recently included the reopening of the Companies Directorate on July 31 after its rehabilitation and development of its administrative and service structure.
This structural amendment coincides with the preparation of a new income tax law project that includes unprecedented exemptions, indicating a comprehensive approach to improving the business environment and attracting foreign investments.
These measures reflect Syria's attempt to adapt to economic changes after the war and prepare for the reconstruction phase, despite the significant challenges it still faces regarding international sanctions and the difficult economic situation.
