cowpoke
02-03-2007, 11:40 AM
I found this interesting. If Syria sees the benefit of becoming a market economy then maybe the winds of change are starting to blow through the middle east.
Quoted from the Syrian Finance Minister
"He pointed out that the most important step at this time is to pass a law allowing individual and family-owned companies, which currently form the bulk of the Syrian private sector, to be transformed into joint stock companies. He explained that the Finance Ministry is currently working on the necessary legislation with the help of the private sector and some financial expert"
"The finance minister expressed the opinion that joint stock companies are among the best types of companies and the least subject to corruption. They help to expand the base of ownership by attracting shareholders who thus use their savings to buy shares. This helps them to stay away from more risky speculations in the real estate market, the automobile import business, or investing their money in capital investment firms. He explained that the proliferation of joint stock companies will help family-owned businesses to avoid the fate of splitting up or simply disappearing when their original proprietors die."
Loading... (http://aawsat.com/english/news.asp?section=6&id=7849)
At least this is not bad news coming out of Syria, and also makes me feel a bit more confident in the ISX.
Quoted from the Syrian Finance Minister
"He pointed out that the most important step at this time is to pass a law allowing individual and family-owned companies, which currently form the bulk of the Syrian private sector, to be transformed into joint stock companies. He explained that the Finance Ministry is currently working on the necessary legislation with the help of the private sector and some financial expert"
"The finance minister expressed the opinion that joint stock companies are among the best types of companies and the least subject to corruption. They help to expand the base of ownership by attracting shareholders who thus use their savings to buy shares. This helps them to stay away from more risky speculations in the real estate market, the automobile import business, or investing their money in capital investment firms. He explained that the proliferation of joint stock companies will help family-owned businesses to avoid the fate of splitting up or simply disappearing when their original proprietors die."
Loading... (http://aawsat.com/english/news.asp?section=6&id=7849)
At least this is not bad news coming out of Syria, and also makes me feel a bit more confident in the ISX.