Creation of the Office:

An office under the name of Investment Office reporting to the deputy premier for economic affairs shall be created and headed by a person with the rank of an assistant minister.

The office shall comprise a number of staff of appropriate qualifications and scientific and practical experience particularly in the following fields:

• Administrative and Legal affairs.
• Financial affairs.
• Economic affairs.
• Technical affairs.
• Public relations.

This is in addition to a number of assistant staff. The Premier shall issue a decision forming the office.

Office Authorities:

The office, in field of its specialization, shall undertake the following tasks:

Receive and register investment applications forwarded to the Council by the competent authorities, work on the completion of information and data relevant to each application in cooperation and coordination with all relevant different bodies, prepare a file for each application of which copies are distributed to the Council president and members three days at least prior to its meeting date.

Record the invested money received from abroad in the form of foreign currency, in kind or moral rights after accrediting it in a special register. The office may issue, on basis of this record, a de facto registration certificate on each share of the invested capital. The office manager on his responsibility shall accredit this certificate.

Receive complaints of investors, work on handling them and help investors at the concerned bodies to obtain different licenses necessary for their projects to establish the project, follow-up on their affairs relevant to the follow up of project implementation, forward proposals and viewpoints of investors to the Council in all mattes touching investment issues and project implementation.

Record minutes and decisions of the Council and follow up on their implementation with the different competent authorities, keep records and entries necessary for the office task in the application on Investment Law in a way that guarantees good and sound execution. This includes also the collection, coordination and study of reports and data of projects, inter alia, budgets, profit and loss accounts and forwarding regular reports relevant thereto to the Council.

Study drafts of articles of association of joint companies and companies of limited liability initiated under Investment Law, their amendment drafts and forward these prepared projects and studies to the Council to consider the approval thereof.

Issue releases, booklets and statements on investment in the Syrian Arab Republic according to the directives of the Council in Arabic and foreign languages.

Cooperate with the different public, private and joint bodies to organize information campaigns abroad among the communities of the expatriate Syrians, citizens of Arab and foreign countries to get them acquainted with the investment opportunities available in the Syrian Arab Republic under the Investment Law according to the directives of the Council in this respect.

Evaluate the fund in coordination with the two Ministries of Economy & Foreign Trade and Finance.

Approve the granting of the projects their entitlements of tourist transportation means pursuant to the Council’s decision No. (308/M.S) of 5 Aug. 1992 and its amendments.

The office manager shall invite investment managers of the concerned ministries to regular meetings to follow up on the implementation of investment projects covered under the Investment Law and review what has been taken regarding each of them, exchange opinion on the manner of handling the issues of investors and forward all that requires a decision to the concerned ministers or the council according to the reporting body to decide whatever is necessary.

Other tasks entrusted thereto by the Council.