Joint-stock companies play a significant role in developing the national economy, as they are one of the investment channels available for citizens through purchasing their shares and trading them in the stock market.
These companies comply with strict corporate governance regulations that ensure effective management of their assets, close control over their operations, and high transparency in their financial statements.
In an effort to encourage the transformation into that type of companies, President Bashar al-Assad issued Law No. 11 on the merger of companies and their transformation into joint-stock companies.
The companies are entitled to merge in accordance with the provisions of this law, provided that the merger results in a public joint-stock company.
Any company has the right to transform into a public joint-stock company in accordance with the provisions of this law, provided that at least three years have passed since its incorporation.
Source: Syrian Arab News Agency