Saudi Arabia and Syria Sign Investment Protection Agreement to Boost Economic Cooperation

Riyadh, The Gulf Observer: Saudi Minister of Investment Eng. Khalid Al-Falih and Syrian Minister of Economy and Industry Dr. Mohammad Nidal Al-Shaar signed an agreement on Monday to promote and protect investment between the two countries. The pact was concluded on the sidelines of a roundtable meeting that commenced in Riyadh in the morning.

Senior Saudi and Syrian officials underlined that the agreement marks the culmination of sustained efforts to activate strategic partnerships and expand the scope of joint investments. The accord aims to establish an attractive legal and investment environment, provide frameworks ensuring investment protection, and facilitate the flow of capital. It is also expected to contribute to the growth of key sectors, including industry, services, infrastructure, and tourism.

Speaking at the signing ceremony, Al-Falih emphasized that the agreement aligns with the Kingdom’s vision to strengthen economic partnerships with Arab nations and create promising opportunities for investors. He noted that the accord with Syria represents a move toward sustainable cooperation that supports regional stability and prosperity.

For his part, Al-Shaar described the signing as a qualitative shift in Saudi-Syrian economic relations, opening broad horizons for mutually beneficial cooperation and reinforcing fraternal ties between the two peoples. He also underscored Saudi Arabia’s vital role in supporting Syria’s economic recovery process.

The Syrian minister arrived in Riyadh leading a high-level delegation on an official visit aimed at advancing economic ties. The visit follows the outcomes of last month’s Saudi-Syrian Investment Forum, held in Damascus under the patronage of Syrian President Ahmad Al-Sharaa. That forum brought together more than 100 Saudi companies and 20 Saudi government entities, culminating in the signing of 47 agreements valued at over SR24 billion across various key sectors.