Signing of a settlement agreement between the Ministry of Communications and the MTN International Group.
Details:
Damascus witnessed the signing of a compromise agreement between the Ministry of Communications and Information Technology and the international MTN group, with the aim of addressing the issues existing between the two parties.
The signing ceremony was held in the presence of the Minister of Communications and Information Technology, Abdel Salam Haikel, the Minister of Finance, Mohamed Yasser Baranya, the South African Ambassador and representatives of the MTN Group and the Sovereign Fund.
The settlement comes as part of the state's tendency to handle disputes with foreign companies through negotiations and fair agreements, while making sure to honor obligations and protect rights.
The agreement carries a message to investors regarding Syria's move towards building economic relations based on trust and the rule of law, away from the confiscation methods adopted by the previous regime.
The signing of the agreement comes after a controversy sparked by the statements of the finance director of the Zain Kuwait Group, regarding the incomplete settlement of the MTN case, and the suspension of part of the payments related to the new operator.
The Ministry of Communications confirmed the completion of negotiations with MTN before announcing that Zain had won the new license, while the signing of the agreement is an official step to resolve the dispute regarding the settlement.