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Abstract
In an attempt to promote foreign investment and to channel into internal investment foreign currency held by expatriate and resident Syrians, Syria enacted Investment Promotion Law No. 10, 1991. The law and the implementing instruction issued under Council of Ministers Order No. 7 OM provide tax holidays, repatriation of profits and capital, exemptions from certain foreign exchange regulations, and duty-free imports of capital equipment for qualifying investments. To qualify as a Law 10 Project, the fixed assets imported from abroad for the project must be valued at 10 million Syrian pounds minimum. The law applies to qualifying projects jointly owned by the public and private sectors. The Supreme Investment Council is empowered to decide the percentage and nature of the state's participation in the capital of joint sector company projects. Thus far, over 70 projects have been approved under Law 10.