The number of companies operating in Syria rose to almost 500,000 at the end of the first quarter of this year, according to figures from the Companies Directorate AT the Ministry of Economy.

Exactly 491,956 companies registered under various forms exist in the country, Bashir Hazaa, head of the Directorate, said in comments to the press.

Of this total, some 406,502 are registered as individual companies and 85,241 as private sector companies in various other forms including limited liabilities, partnerships and joint-stock companies.

In addition there are 21 joint sector companies – i.e. joint-ventures between the state and private investors - and 201 public sector companies. In December the Government said that public sector companies numbered 199. The difference of two probably includes the Syrian Electronic Payments Company, which was established in April.

About a third of the companies are registered in Damascus (92,330) or in the Rural Damascus Governorate (70,289).