Al-Falih: Saudi Companies Begin Work in Syria, Riyadh Supports Prosperity

Engineer Khalid Al-Falih, the Saudi Minister of Investment, said that the Kingdom of Saudi Arabia is betting on the future of Syria through its capital and major companies, confirming that the investment environment in Syria has become very attractive, and that Saudi Arabia is keen to be a key and active partner in the reconstruction and development phase.

He explained that Saudi companies have already started establishing factories inside Syria, and that a large number of new investment projects will be announced today, reflecting the Kingdom's commitment to supporting Syrian economic stability efforts.

He pointed out that the Saudi delegation currently in Damascus includes more than 100 senior leaders of Saudi companies alongside 40 government officials, highlighting the official and economic interest in developing bilateral relations.

Similarly, Bloomberg agency revealed that Saudi Arabia is preparing to sign trade agreements with Syria worth up to $4 billion, indicating a significant economic move towards supporting Syria after years of war.

Al-Falih added that Syria possesses human resources, natural resources, and an important strategic location, confirming that the Syrian government is increasingly relying on the private sector in the reconstruction process, opening up wide prospects for Saudi investors.

The minister emphasized that Saudi Crown Prince Mohammed bin Salman is particularly interested in supporting Syria in its journey towards construction and prosperity, within the Kingdom's vision to enhance stability in the region through joint development and economic cooperation.

Earlier yesterday, the Saudi Press Agency "SPA" reported that Al-Falih is accompanied by 120 Saudi investors from various sectors as part of the official delegation to Damascus, with expected deals exceeding 15 billion riyals (about $4 billion).

The Saudi Ministry of Investment also announced the holding of a Saudi-Syrian investment forum in the Syrian capital with broad participation from both the public and private sectors.

The ministry confirmed that it will work with relevant authorities in Syria to overcome obstacles hindering investments, especially in light of the challenges resulting from years of war.

The visit also includes the opening of a white cement factory in the countryside of Damascus, as reported by the official Syrian news agency (SANA).