MENA-OECD Investment Programme Meeting of Working group 1- Promoting Transparent and Open Investment Polices Syrian Enterprise & Business Center () Presented by Amira Al Bacha 4 th September 2007
Outline Remaining obstacles to foreign Direct Investment - Legal & Regulatory - Institutional - Simplification of Procedures - Manpower - Information International Investment Instruments objective and current contribution
Remaining obstacles to foreign Direct Investment Legal & Regulatory Labour law Companies law Different platforms for establishing an enterprise Too many institutions involved The legal environment is still missing some laws Bankruptcy law The laws that governs the stock market exchange (newly established) Closure and transform laws
Remaining obstacles to foreign Direct Investment Institutional - Newly established IPA (Syrian Investment Agency) - Unhealthy OSS operations - Too many institutions involved - Capacities and capabilities of Cadre need to be upgraded - Limited Investment promotion activities - Absence of an integrated National Investment Map - There is no commercial courts
Remaining obstacles to foreign Direct Investment Simplification of Procedures - Too Many Institutions involved - Lengthy process (Time) - Cost is not yet competitive - Minimum capital is high
Remaining obstacles to foreign Direct Investment Manpower - Low qualification of Syrian manpower (mainly technology related) - Companies are allowed to recruit foreign manpower, however, labour law is not yet there
Remaining obstacles to foreign Direct Investment Information - An integrated FAQ manual is not yet developed - Low IT competence of Information providers the IT infrastructure is of modest features - There is no agreed Investment promotional strategy
International Investment Instruments Items 6 & 7 of the investment law No. 8 opened the way for Syrian adherence to bilateral and multilateral agreements with countries and organizations. Syria has not signed the OECD declaration on multinational enterprises Movement of Capital (refer to Law No. 8) Trade in services (debate was concluded by the S EU AA)
(Syrian Enterprise and Business Centre) is a world class organization that is designed to support the Syrian economy by serving as an implementation agency for projects aimed at developing the private sector in general, and SME support & development in particular. In other words, is the catalyst institution for private sector development and growth in Syria.
objective Objectives as a private sector development programme: to increase the competitiveness of the business sector and its business support institutions in view of the progressive transition towards a market economy and to facilitate the successful insertion of Syria into the Euro-Mediterranean Free Trade Area by the year 2010. Improve performance of local businesses Develop EU-Syrian business cooperation Develop Syrian capacities in consulting and advisory services Improve the business environment and sector policy conducive to enterprise development
current contribution Legal & regulatory advisor to government OWP of SSP (policy formulation) Information provider EICC host Institutional development. Direct assistance to Gov. Direct assistance to International, regional and local organizations Direct assistance to investors.. Business planning, access to finance and access to information.
Specific Results of the SSP 1: The efficiency and competitiveness of SMEs are improved 2: Local consultancy business development services are enhanced 3: Access to and choice of medium and long-term finance for SMEs facilitated 4: Access to information on export market opportunities facilitated 5: Strengthened SME support institutions 6: Policies to strengthen and support the private sector formulated
Thank You