President Bashar al-Assad issued Legislative Decree number 19 for 2015 on Sunday, allowing the establishment of a Syrian private joint-stock company with the aim of managing and investing administrative units.
According to the decree, based on the ruling from the Minister of Local Administration following suggestions by the governorate council, it is permitted to establish private joint-stock companies on the basis of social, economic and regulatory studies with the aim of managing and investing the property of an administrative unit, in whole or in part.
Companies will consist of a chairman and members of an administrative unit council, with the assembly’s decisions having to be ratified by the governor of the concerned province.
