1. It shall be permissible for investors to possess and rent lands and real estates

   required for establishing or expanding investment enterprises, even if the area

   exceeds the ownership ceiling defined by the effective laws and regulations,

   provided that they are exclusively used for the enterprise.

2. When an enterprise is cancelled or completely dissolved, the investor shall

   have to:

• cede to others, of Syrian Arab citizenship, pursuant to the effective laws and

  regulations any extra ownership beyond the legally defined ceiling.

• A non-Syrian investor shall have to cede the ownership of the enterprise’s

  lands and buildings. In case the cession is from a Syrian or foreign investor to

  a non-Syrian investor for the purpose of establishing an investment enterprise, an in advance approval shall be obtained from the Board, and a deadline of 2 years max. should be set to carry out the relevant cession.

enterprises and investments licensed pursuant to the provisions of this Legislative Decree can’t be seized or appropriated, neither could there be any limitations with regard to their ownership or revenues disposal, unless for public utilization and in return of an immediate and just compensation that is equal to the enterprise current value just before appropriation. Payment should be in a convertible currency for foreign capital. With no violation to the provisions of the Public Funds Collection Law No. 341 of 1956, it shall be impermissible to seize the enterprise but via a judicial ruling.

1. A non-Syrian investor and his family shall have work and residence licenses during the enterprise execution and operation life..

2. An investor shall have the right to get work and residence licenses for the enterprise non-Syrian workers in accordance with effective laws and regulations.

1. An investor shall have the right to re-transfer the outcome of dealing with his/her

   share of the enterprise in a convertible currency and after settling the taxes due

   on that dealing.

2. Pursuant to the provisions of this Legislative Decree, an investor shall have the

   right to annually transfer abroad the profits and interests resulting from the invested foreign capital in a convertible currency after settling the taxes due on

   those profits and interests.

3. Six months after the foreign capital transference, an investor shall have the right

   to retransfer his foreign capital abroad, if difficulties and conditions beyond the

   investor’s ability prevented him from investing that capital. Those conditions are

   assessed by the Board, which shall have the right, in special cases, to approve

   retransferring the Foreign Capital abroad without having to adhere to the above

   mentioned period.

4. Arab and Foreign experts, workers and technicians working for any approved

   enterprise, shall have the right to transfer abroad 50% of their net wages, salaries

   and bonuses, and 100% of their end-service allowances, in a convertible currency, provided that they settle the taxes due on those wages, salaries and

   bonuses.

5.  Transference shall be through the properly licensed banks.

6. An investor shall have the right, upon the Board approval, to enter and take out the tools used for the installation of the enterprise assets.

1. Provisions of international bilateral and multilateral investment and investment
   insurance-related agreements effective in Syria and signed with other countries
   or Arab and international organizations, shall be taken into consideration.

2. An investor shall have the right to insure his enterprise at any of the insurance
   companies licensed in Syria.

1. Following a justified suggestion from the Board, the Supreme Council shall have
   the right to decide granting the investment facilitations, exemptions and advantages stipulated in this Legislative Decree, as well as any other additional
   advantages and guarantees, to any other enterprise.

2. The Supreme Council shall have the right to use discount bases other than the
   ones mentioned in the effective Income Tax Law and its amendments for the enterprises of special importance for national economy.

Any investor in an approved enterprise shall have to:

1. Inform the SIC in writing, as soon as the assets are installed and prepared, of the
   date of the enterprise’s operation commence or actual production.

2. Keep systematic accounts for the enterprise in accordance with the international
   accounting standards and provide the SIC with a copy of the enterprise balance
   sheets ratified by a licensed accounts auditing company or office.

3. Keep a detailed record of the enterprise assets.

4. Submit any information, data or documents required by the SIC and allow any officer authorized by the SIC to compare the data and information with the reality.

Any enterprise approved pursuant to investment legislations in effect before the validity of this Legislative Decree, shall benefit from all exemptions and advantages it has until the end of the exemption period stipulated in those legislations and their terms.

In case an approved enterprise ownership is transferred, totally or partially, to another, the new owner shall replace the previous one in rights, liabilities and obligations pursuant to the provisions of this Legislative Decree and the provisions and instructions thereof. Capital profits generated by the sale of fixed assets shall be subject to income tax according to the effective laws and legislations.

Details of the private data and information provided by investors on their enterprises hall not be publishable or circulatable.

1. Approved enterprises shall be subject to the provisions of the effective Companies Law or Joint-Companies Law with no contradiction to the provisions of this Legislative Decree.

2. In the context of applying this Legislative Decree, no other stipulation of any other legislation shall be used if it contradicts its provisions.

3. Law 10 of 1991 and amendments is abolished.

Damascus, 27/01 /2007