Syria's new PPP law aims to attract private investment

Lawyers say legislation on investment protection and promotion schemes is in its final stages

NEW INITIATIVE: Once the law is in place, the Syrian government plans to tender developments such as school, hospital and power plant projects as PPPs (ITP Images)

NEW INITIATIVE: Once the law is in place, the Syrian government plans to tender developments such as school, hospital and power plant projects as PPPs (ITP Images)

A new public-private partnerships (PPP) law is imminent in Syria as part of government efforts to attract private investment. 

Lawyers working in the country say the legislation, which includes important safeguards to ensure investment protection and a number of investment promotion schemes, is currently in its final stages and ready to be promulgated any day.

Due to the controversial nature of the law, sources asked not to be named, but made clear that the law is in its advanced stages, due to be introduced soon.

Recognising the importance of private finance to develop the much-needed social housing and infrastructure projects in the country, the government is launching a number of initiatives which will make it easier to do business there.

The new PPP law, which is similar to that launched in Kuwait, will maintain a central procurement process for PPP projects whilst providing clearer terms of reference and a more modern legislative framework.

Though the legislation is likely to face some opposition, it is hoped that investors – both foreign and domestic – will feel more enticed to do business in the region, free from a number of old constitutional restrictions.

Once the law is in place, the government plans to tender developments such as school, hospital and power plant projects as PPPs.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Saudi Arabia spends money to make money

Saudi Arabia spends money to make money

Tour of Asia by Saudi Arabia's King Salman advances drive to...

Soft money: will cash transactions soon be a thing of the past?

Soft money: will cash transactions soon be a thing of the past?

The rapid digitisation of banking in the UAE is enabling robots...

Oman gains breathing space with jumbo $5bn bond sale

Oman gains breathing space with jumbo $5bn bond sale

Order books for the issue totalled $20bn, showing that Oman can...

Most Discussed
sponsoredTracking