Written Report on SYRIA Research Paper Example | Topics and Well Written Essays - 1500 words

Written promulgate on SYRIA - Research Paper ExampleBashar al- Assad is the professorship of Syria at present who has been enthr stard after the death of his father Hafiz al- Assad. The Syrian Economy which is based mainly on the petroleum and agriculture sectors experienced a growth of 2.4% estimated in the year 2008 and these sectors together constitute one half of the Gross Domestic Product of the state. An increase in the production of the oil dissolving agented from the shooting wrong of crude oil has contributed much to the contrary receipts of Syria (Central Intelligence Agency, p.657). Ease of doing condescension in Syria The governments of Syria were load-bearing(a) the public sector for decades and the private sector too is given importance during the last few eld as a result of the rethinking from the government side, realizing the necessity to boost private sector for the growth of the coarse domestic product and to reduce the unemployment rate of the state. Syri a was ranked at 143 in the Ease of doing Business Report for the year 2010 by the World Bank which placed Syria behind all its neighboring countries. In traffic with saying permits and in starting a new business, the country was given 132nd and 133rd positions respectively. These figures indicate the difficulties faced by the private sector of Syria. The rising apostrophizes and the number of procedures involved in the process of issuing construction permits could be seen as the reasons behind this low ranking status. The report gives a clear cut head regarding the tedious process of obtaining a construction permit which involves 26 procedures takes the duration of 128 days and requires spending 540.3 % of per capita income. only a down fall is observable in the case of the number of procedures and the required spending when compared with the statistics of 2006 whereas the cost required was 697% of the per capita income for the attainment of construction permits (Oxford Busines s Group, 2010, p.117). In the past few years Damascus, the capital has witnessed a number of frugal reforms like opening private banks, reducing lending interest rates, raising prices of authentic subsidized items and consolidating exchange rates (Central Intelligence Agency, 2009, p.657). Even though the government has acknowledged that it has carried out a number of reforms in the economy, sufficient legal regulations are expected by the investors in order to tug transparent and effective partnership from the government side and it is true that there is still scope for advantage (Oxford Business Group, 2010, p.117). Foreign business in Syria The trade liberalization and new exchange rate policies ask contributed much to the entry of Syria in to the global market and at the same time the state is big emphasis on the domestic economy in order to promote domestic investors. The number of foreign players entered in the liberalized banking sector appears to be an example of the f oreign competition faced by the state. The Syrian economic reforms are carried out in such a way that they permit foreign participation on with providing necessary support and encouragements to the domestic firms focusing on the development of the economy of Syria. As a result of the corporate tax reformation of 2006 which reduced the tax rate from 65% to 28%, the corporate business sector experienced a remarkable change. A number of new business firms came in to performance and the government experienced an overall increase in the revenue. In 2008 another law was passed by Syria in order to support foreign investors. As per the law investors are allowed to rent or buy kingdom in the state for