Proposal on the joint stock company acquired in the last century

Series of steps:

Dr. Ali Kanan, professor at the Faculty of Economics at Damascus University, stated that Syria’s experience in the field of financial markets was a pioneering experience and one of the most wonderful experiences in the 1950s, with the participation of 60 joint-stock companies, one of the largest companies in the Arab world and developing countries, but this experience ended with nationalization, a situation that lasted until the day when the Damascus Stock Exchange was launched again in 2009, which showed that this experience had regained its glory. To rise again, it is necessary to amend the current regulations and laws. Today, there are encouragements for joint-stock companies, but on the other hand, there are some decisions and procedures (such as currency) that limit this encouragement and turn it into a barrier to the business of these companies (such as the procedure for withdrawing money from banks).

150 public sector companies
In this context, Dr. Kannan said that with regard to the public sector companies that were joint stock companies in the 1950s and were nationalized, several proposals have been made to encourage investment by returning these companies to their owners or by evaluating these listed companies, making them available for public subscription and becoming listed companies, as there are currently about 150 public sector companies, which if converted into listed joint stock companies can contribute to revitalizing the national economy and restoring its glory.
The role of the state
Regarding the role of the state and the public sector in the national economy, Dr. Kanan said that some points need to be noted regarding the restructuring and study of the public sector, which is also pointed out in the new constitution of the Syrian Arab Republic in 2012. It only includes 8 economic articles, which talk about the form of the economy and the regulatory role of the state, but in fact it needs to clarify many details, including investment, savings, ownership, financial markets, etc. For example, any local or foreign investor is clear about all the details that prompt him to invest and establish a public joint-stock company, rather than keeping the company as a family company.
In the context of striving to revitalize our country’s economy, we are not opposed to learning from the experience of other countries and encouraging capital investment by amending relevant regulations, laws and legislation.
Strategic Investment