The Public Authority for Investment Promotion and Export Development is signing the Memorandum of Understanding in the Investment field with The Syrian Investment Authority

The Public Authority for Investment Promotion and Export Development has signed on 5th October 2009 The Memorandum of Understanding in the investment field with the Syrian Investment Authority, Dr Salem Nasser Al Ismaily CEO of the Centre represented Oman and Eng. Ahmed Khalid Abdulaziz Director General of the Syrian Investment Authority represented Syria, The Signing Ceremony was attended from Syria by Eng. Ziad Kamal Pedrow Eng/Ziad Kamal Pedrow – Director General of the industrial city of Adra, Eng/ Wael Abdul Karim Al Shikhawi from the Syrian Investment Authority, Mr. Joseph Stanom – The Omani Centre of Investment Promotion and Export Development’s Representative. Attendee representing Oman are Eng. Nisreen Ahmed Jafar – Director General of Investment Promotion in the centre and Mr. Aiman Al Ambosaidi Acting Director General of Export Development and Mr. Khalid Al Hashli Director of Investment Facilitation in the Centre.

MOU has elaborated on strengthening the linkages and interdependencies between the two parties in the area of investment cooperation and to work on the definition of investment opportunities and projects available in the two countries in order to activate investment in all areas provided for in the investment laws in both countries. The Parties will promote the exchange of visits and meetings between Syrian and Omani investors and encourage investment in various productive and service sectors and the establishment of forums in order to publicize the investment environment and opportunities for projects available in each of the two countries. Exchange of information, legislation and laws in force in the area of investment and participation in investment fairs in both countries and work to provide the necessary services and facilities to investors for the establishment and completion of investment projects in accordance with the legislation in force in the two countries and signed agreements with the relationship between them. Exchange of information and lists of projects for investment in both countries and the conditions for their implementation and follow-up completed. Formation of a joint committee of professionals in the Omani Center for Investment Promotion and Export Development, Oman and the investment in the Syrian Arab Republic for the implementation of this note and meet once a year alternately in both countries and, whenever necessary. Parties bear their respective financial costs of programs of cooperation resulting from this memorandum. The present Memorandum will take effect after thirty days from the date of the last action to complete the notifications of ratification by the legislation in force in each of the two countries and shall remain in force for a period of three years unless one of the parties shall notify the other party in writing three months before his desire to end it.