Government Increases Foreign Ownership Rights

Foreign investors will be able to own, rent and invest in property in industrial areas under a new law that President Bashar al-Assad approved on December 4.



Cham Press reported that the law will also allow foreigners to own more land than they were previously entitled to Syria, as long as the land is used for their business activities.



Investors, either Syrian or foreign, will also be allowed to transfer businesses or projects to foreign investors if they receive permission from the ministry of industry. Parliament approved the law on November 29.