The number of investment projects licensed by the Syrian Investment Agency halved in 2011 compared to the previous year, although in terms of value the figures are surprisingly stable.
The SIA said that in 2011 it had granted a license to 180 projects with a total capital investment value of some SYP 96 billion, from 400 projects and SYP 90 billion in 2010.
 
The fact that the total nominal value of the projects remained stable reflects a doubling of the average value of each project, although the SIA has yet to provide a detailed break-down.
 
The SIA said 95 projects were in the manufacturing sector, 58 in transport, 25 in agriculture and 2 in other sectors. 34 projects are to be located in the Damascus Countryside Governorate, 21 in Deir-ez-Zor, 20 in Damascus and 13 in each of Homs and Raqqa.
 
Private sector investors wishing to benefit from the incentives provided by Investment Law 8 of 2007 submit applications to the SIA for their investment projects.
 
The data of SIA, however, offers only a limited picture of the state of private investment in the country. Not all industries, indeed, are covered by the law. Investments in the tourism industry, in the real estate sector, in the financial services and in the oil sector for instance are processed and licensed by other state bodies.
 
Most manufacturing investments, as well as projects in the transport, agricultural and health sectors, among others, are licensed by the SIA.