Damascus, SANA – President Bashar al-Assad on Sunday issued Legislative Decree No. 19 for 2015 on allowing the establishment of private holding joint stock companies with the aim of managing and investing administrative units or part of them.
According to the Decree, upon a decision of the Minister of Local Administration and based on the suggestion of a governorate council of a city council, it is allowed to establish a Syrian private holding joint stock company on the basis of social, economic and regulatory studies with the aim of managing and investing the properties of an administrative unit or part of it.
The General Assembly of the holding company consists of a chairman and members of an administrative unit council and the decisions of the general assembly are to be ratified by the governor of the concerned province.
R. Milhem/ Barry