Saudi Delegation Arrives in Damascus Ahead of Investment Forum to Sign SR21 Billion in Deals Across Key Sectors
Damascus, The Gulf Observer: A high-level Saudi delegation, led by Minister of Investment Khalid Al-Falih, arrived in Damascus on Wednesday ahead of the Saudi-Syrian Investment Forum, scheduled to take place on Thursday. The visit marks a pivotal step in reestablishing economic cooperation between Saudi Arabia and Syria.
Undertaken under the directive of Crown Prince Mohammed bin Salman, the delegation includes over 150 Saudi businessmen and investors, signaling the Kingdom’s strong commitment to supporting Syria’s economic recovery through direct engagement and robust private sector participation.
The forum, organized by the Saudi Ministry of Investment in collaboration with the Federation of Saudi Chambers, aims to facilitate the participation of Saudi enterprises in Syria’s reconstruction and development across various sectors.
During the event, investment agreements worth an estimated SAR 21 billion are expected to be announced, spanning 11 strategic sectors: real estate, infrastructure, information and communications technology, transportation, industry, tourism, energy, trade and investment, healthcare, human resources, and financial services.
According to informed sources, the deals will include major residential and commercial developments in cities such as Damascus and Homs, the establishment of cement and gypsum plants to boost domestic industry, and the deployment of advanced digital infrastructure to modernize Syria’s communications and data networks.
Additional agreements will cover critical sectors such as energy generation, hospital rehabilitation, pharmaceutical production, vocational training, and the modernization of Damascus International Airport in accordance with international standards.
The financial sector will see agreements focused on fintech collaboration, dual stock exchange listings, and sustainable investment initiatives. In total, 38 memorandums of understanding are expected to be signed between Saudi and Syrian stakeholders.
The forum will bring together more than 150 Saudi representatives from both the public and private sectors and over 400 participants from Syria, reflecting a strong mutual interest in renewing bilateral economic relations.
Saudi officials have emphasized that the initiative is in line with Crown Prince Mohammed bin Salman’s vision to promote regional stability and prosperity through strategic investment partnerships.
The Ministry of Investment noted that the forum reflects the Kingdom’s belief in leveraging investment as a catalyst for peace, stability, and shared growth—contributing to Syria’s rebuilding efforts while reinforcing Saudi Arabia’s leading role in advancing regional development under Vision 2030.
