2. Introduction
Full name: Syrian Arab Republic
Capital: Damascus
Official language: Arabic
Currency: Syrian pound (SYP)
Population (2008): 19.1 million
Area: 185,180 sq km
Population growth: 2.5% / year
Geographic coordinates: 35 00 N, 38 00 E
International Monetary Fund, World Economic Outlook, 2008 / CIA Factbook
2

3. Introduction
3

4. Introduction
4

5. Syria Historical Overview
Helmet with Mask
1,950 years old, silver and iron
National Museum, Damascus
“Therefore, that every cultured man belongs to two nations: his own and Syria”
Historian Andre Parrot
5

6. Syria Historical Overview
list of food rations The oldest known dictionaries are
The Earliest Ebla: 2400 BC cuneiform tablets from the
Alphabets - Ugarit Akkadian empire with bilingual
wordlists in Sumerian and Akkadian
discovered in Ebla in modern Syria.
The Oldest Song In The
World - Ugarit
The song was discovered Ugarit
in the early Fifties, and then
deciphered by Professor Anne
Draffkorn Kilmer. The tablets
containing the notation were
about 3400 years old, and
contained cuneiform signs in the
hurrian language that provided
musical notation of a complete
cult hymn. It's thought to be the
oldest preserved song with
notation in the world, and
predates the next earliest
example of harmony by 1,400
years.
6

7. Syria Historical Overview
Mosaic of Hercules
1,700 years old, marble.
God El
Limestone: 1300 BC Peacock Mosaic 400 AD
The god El was the father of (peacock symbolized
all the other gods and of immortality in early King of Mari
humanity as well. Christian art) 4,200 years old,
7

8. Syria Historical Overview
Manuscript: Medical Works
between 700 - 500 years old
Astrolabe
500 years old, copper
Vase with cart
3,300 years old, ceramic
8

9. Syria Historical Overview
Syria often called is the Cradle of Civilization and the Gateway of History, and from it civilization
began . Syria is well known for its distinguished geographical location to the east of the
Mediterranean between three continents Asia, Europe and Africa.
Syria’s history dates back to the beginning of the Bronze era, in 10000 B.C. the Kingdom of
“Khana” on the banks of Euphrates as the fist civil agricultural civilization in the world.
In 4000 B.C the Kingdom of Mari was established according to a
developed comprehensive construction plan, that included water,
marine and military establishments.
In Mari Kingdom the oldest documentary library in the world was
Statuette of the god Baal
3,800 years old, silver and gold
discovered, and Ugarit – Rass Shamra is where the first Alphabet was
established.
9

10. Syria Historical Overview
From the Phoenician cities extended along Bilad Al Sham sailed the
Phoenician boats to promote the Syrian products in Europe, Tunisia
(Carthage) and North Africa.
Through Syria passed the Silk Road coming from China, with its first Syrian station being
Doura Europos, followed by Bosra, Homs and Aleppo up to the Mediterranean departing
from the Syrian coasts and ports.
10

11. Syria Historical Overview
Several peoples and civilizations succeeded each other on the
Syrian territory: Sumerians, Amorites, Acadians, Hittites,
Pharaohs, Hurries, Assyrians, Canaanites, Aramaic, Persians,
Greeks, Seleucids, Ptolemy, Romans, Arab Nabataea,
Byzantines, Arab Ghassanids. Later came the Arab Islamic
Conquest and there came the Umayyad, Abbasids, Tulunids,
Ikhshidid, and Fatimid. Syria was also subject to several
“Crusades Campaigns” during the era of Seljuk, Atabeg,
Ayyubids, Mamluk. Syria was also subject to the invasions of
Tatars, later it came under the rule of the Ottomans until the
Great Arab Revolution, and after a while came under the
French mandate, up until the evacuation in 1946 when the last
French soldier departed the Syrian territories.
11

12. Syria Historical Overview
The Syrian Capital Damascus is considered the oldest inhabited capital in history. The first sign of
its existence was in Ebla boards, in 3000 B.C.
The UNESCO listed Old Damascus, Old Aleppo, Bosra, Palmyra, Crac des Chevaliers, and
Saladin Citadel in the International Heritage List, and another eight Syrian sites would be added
to this list in the year 2010.
12

13. Syria Historical Overview
The successiveness of these various distinguished civilizations in its humanitarian and knowledge
combination formed the unique Syrian textile generating in the most fertile civilized interplay ever
witnessed by humanity.
The traces of these civilizations are still outspoken witnesses on the Syrian lofty civilization, such as
the temples, theatres, bathes, churches, monasteries, mosaic, statues, engravings, water tunnels,
cemeteries and Islamic monuments, since the first dawn of Islam.
The first Medicine School in the world was established in Syria, and the first hospital. Mosques
are spread all over the country as well as schools, tombs, sanctuaries and libraries.
13

16. Ebla

17. Privatization and Investment Climate
The Syrian Economy was based on the principle of industrial approach and work on
establishment of the infrastructure under the umbrella of the public sector. The Syrian
Economy remained based on central planning and relatively closed until beginning of the
nineties of last century. Syria started a radical review to its economic and development style that
was characterized by adoption of economic multiplication instead of the state’s unilateral
method and activation of the private sector’s role. In 1991 Law No. 10 was issued to encourage
investment and grant the right to invest in Syria to all nationalities excluding the condition of
Syrian citizens’ partnership in a capital share. This was an attempt to attract foreign capitals to
Syria. The government started implementation of an economic reform program, through
gradual liberation of trade by taking various procedures, such as simplification of the customs
procedures, unification of customs fees, reduction and elimination of non-customs commercial
barriers and the restrictions imposed on foreign currency and joining the “Great Arab Free
Trade Zone” as well as modernization of the financial and banking sector.
17

18. Privatization and Investment Climate
Syria was among 23 countries that established and signed the GAT agreement in 1947, and
withdraw from it in 1951. Syria stayed away of the GAT until it took a decision to get back
to it due to the international circumstances. Syria presented an official request to join the
World Trade Organization in 2001.
In the last eight years the Syrian economic strategy was focused on improving the economic
situations to be in coherence with the international developments and transforms in addition
to preparation of the right ground for hastening the transfer trend into a socio-market
economy. This would be reflected in improvement of living and economic conditions of the
citizens and provide legislative and institutional environment that encompass an investment
frame, which adheres to the local, Arab and foreign investors’ ambitions and achieve
balanced development rates.
18

19. Privatization and Investment Climate
In this context, a wide range of legislations and decisions was issued during the last years aimed at
activation of the active economic tools and attract capitals through organization and facilitation of
the procedures of implementing the investment project, develop the necessary legislations,
diversify investment incentives and guarantees, modernize the industrial sector and contribution
of the private sector in the development process, create flexibility in the work market, finance
small and medium projects and proceed with the development of the infrastructure, information
and telecommunication.
Industrial cities were found as one of the foreign investment incentives in addition to the access of
a number of investors to the industries that were limited to the public sector, such as electricity
generation, welding rods, metal sheets, rolling, galvanization, cement and others. This issue
supported the sectors and supported the policy of economic multiplication in the industrial sector
with new industries that did not exist before and it helped to expand the network of the Syrian
industrial products set for local marketing and foreign export.
The consecutive investment laws created an attractive investment atmosphere for Arab, foreign
and local investments that had reach up to around 400 billion Syrian Pounds (8.7 billion USD) in
2007.
19

20. Incentives for Investors
The Syrian economical policies focus on engaging the private sector in the ambitious development
processes.
Investment Incentives in Syria:
• Strategic geographic location.
• Stable and safe political environment.
• Advancement in economic reforms.
• Strong links with Arab & Foreign countries.
• Variety of natural resources.
• Acceptable infrastructure.
• Reliable and professional Labor forces.
• Equipped Industrial Zones.
• Taxation incentives, exemptions and rebates.
• Several mutual agreements and treaties to encourage and protect investments.
20

21. Incentives for Investors
• Syria’s Membership in MIGA, Inter-Arab Investment Guarantee Corporation, Islamic
Investment Guarantee & Export Insurance Agency.
• Investors may open a foreign currency bank account at the Commercial Bank of Syria.
• Investors may import all of their requirements for setting up and running the project. Such
imports to be free of customs duties and taxes.
• Joint stock companies set up under the project may enjoy tax relief on their operations for up
to 7 years, other companies up to five years.
• After five years investors may transfer in foreign currency out of Syria the net capital which
they invested in the first place.
• Profits and revenues may be transferred annually in foreign currency.
• Expatriate workers may transfer 50%of their earnings and 100% of their terminal bonus in
foreign currency.
21

22. Incentives for Investors
Public investment VS Private investment in Syria:
2007‐2008 Public investment Private investment
Agriculture and irrigation 48% 52%
Quarrying industry 31% 69%
Manufacturing industry 36% 64%
Water and Electricity 55% 45%
Building 8% 92%
Tourism 33% 64%
Transportation 51% 48%
Services 94% 6%
Estates, money and insurance 52% 48
http://syrianeasternregion.org 22

23. Syria Microeconomic Indicators
Microeconomic Indicators
GDP (official exchange rate): $44.49 billion (2008)
Labor force 5.547 million
Investment (gross fixed) 22.6% of GDP
Revenue 10.9 Billion USD
Expenditures: 13.77 Billion USD
Public dept 41.2 of GDP
Inflation rate (consumer prices): 14.9%
Industrial production growth rate 3.2%
Exports 13.12 Billion USD
Exports commodities crude oil, minerals, petroleum products, fruits and vegetables, cotton fiber, textiles, clothing,
meat and live animals, wheat.
Export partners Iraq 30%, Lebanon 10%, Germany 9.7%, Italy 8%, Egypt 5.5%, Saudi Arabia 5.2%, France
4.9%.
Imports 14.32 Billion USD
Imports commodities machinery and transport equipment, electric power machinery, food and livestock, metal and
metal products, chemicals and chemical products, plastics, yarn, paper.
Imports partners Saudi Arabia 12%, China 8.7%, Egypt 6.2%, Italy 6%, UAE 5.9%, Ukraine 4.8%, Russia
4.8%, Germany 4.7%, Iran 4.3%.
23

24. Syria Microeconomic Indicators
Microeconomic Indicators
Reserves of foreign exchange and gold 6.104 Billion USD.
Exchange rates 46.5281 Syrian pounds per US dollar
International airports 3 (Damascus – Aleppo – Latakia)
Local airports 3 (Latakia – Der el zor – Qamishli)
Railways 2,711 Km
Roadways 97,401 Km
Waterways 900 Km
Ports and terminals Latakia - Tartus
Industrial cities 4 (Aleppo – sheikh Najjar /Homs – Hesia /Damascus-Adra - Der Alzour)
Free zones 9
Telephones 3.5 million (2008)
Mobiles 6.77 million (2008)
Internet host 7,857 (2008)
Internet users 3.47 million (2007)
IMF, World Economic Outlook, 2008 / CIA Factbook / http://www.syrianindustry.org / http://www.telegeography.com 24

25. Syria Microeconomic Indicators
TEN ECONOMIC FREEDOMS of Syria
Business Freedom 61.4 AVG. 64.3 Investment Freedom 40.0 AVG 48.8
Trade Freedom 54.0 AVG. 73.2 Financial Freedom 20.0 AVG 49.1
Fiscal Freedom 87.0 AVG. 74.9 Property Rights 30.0 AVG 44.0
Government Size 74.9 AVG. 65.0 Freedom. from Corruption 24.0 AVG 40.3
Monetary Freedom 67.2 AVG. 74.0 Labor Freedom 54.9 AVG 61.3
Economic Freedom Score: 51.3
Change from Previous: +4.2
The Heritage foundation USA - http://www.heritage.org 25

26. 26