syria overview

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

2International Monetary Fund, World Economic Outlook, 2008 / CIA Factbook

Introduction

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Introduction

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Introduction

Syria Historical Overview

“Therefore, that every cultured man belongs to two nations: his own and Syria”Historian Andre Parrot

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Helmet with Mask1,950 years old, silver and ironNational Museum, Damascus

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The Earliest Alphabets - Ugarit

The oldest known dictionaries arecuneiform tablets from theAkkadian empire with bilingualwordlists in Sumerian and Akkadiandiscovered in Ebla in modern Syria.

The Oldest Song In TheWorld - UgaritThe song was discovered Ugaritin the early Fifties, and thendeciphered by Professor AnneDraffkorn Kilmer. The tabletscontaining the notation wereabout 3400 years old, andcontained cuneiform signs in thehurrian language that providedmusical notation of a completecult hymn. It's thought to be theoldest preserved song withnotation in the world, andpredates the next earliestexample of harmony by 1,400years.

list of food rationsEbla: 2400 BC



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Mosaic of Hercules1,700 years old, marble.

King of Mari4,200 years old,

God ElLimestone: 1300 BCThe god El was the father of all the other gods and of humanity as well.

Peacock Mosaic 400 AD(peacock symbolizedimmortality in earlyChristian art)


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Vase with cart3,300 years old, ceramic

Manuscript: Medical Worksbetween 700 - 500 years old

Astrolabe500 years old, copper


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.

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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

discovered, and Ugarit – Rass Shamra is where the first Alphabet was

established.

Statuette of the god Baal3,800 years old, silver and gold


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.

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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.


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.

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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.


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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.

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.

Privatization and Investment Climate

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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.

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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.

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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.

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• 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.

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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

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%.

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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


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

The Heritage foundation USA - http://www.heritage.org

Economic Freedom Score: 51.3 Change from Previous: +4.2

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syria overview

Business

syria historical overviewsyria

modern syria

old damascus

syrian products

syrian territory

syrian coasts

syrian territories

syrian sites