Saudi-Syrian Investment Forum Kicks Off in Damascus with High-Level Participation

The Saudi-Syrian Investment Forum kicked off today, Thursday, in the Syrian capital, Damascus, with the presence of Syrian President Ahmed Al-Sharaa, and with the participation of a high-level Saudi delegation including Minister of Investment Khalid Al-Falih and a large number of businessmen and investors.

According to the official Saudi Press Agency (SPA), the Saudi delegation includes more than 120 investors from various sectors, with expected investment deals worth over 15 billion Saudi riyals (equivalent to 4 billion dollars), including memoranda of understanding and joint projects to enhance economic cooperation between the two countries.

Bloomberg reported that the Saudi delegation arrived in Damascus on Wednesday, in a visit aimed at strengthening economic relations and driving sustainable development in Syria, which has been suffering from the effects of years of civil war.

On the other hand, the Saudi Ministry of Investment previously announced the holding of this forum with the participation of representatives from both the public and private sectors, affirming its intention to work with the Syrian side to "overcome the obstacles hindering investment" in the country.

During the visit, a white cement factory will be inaugurated in the countryside of Damascus, as reported by the official Syrian news agency SANA.

This step comes within the framework of Saudi efforts to support the Syrian economic recovery, as President Ahmed Al-Sharaa had previously held talks with Saudi Crown Prince Mohammed bin Salman in Riyadh last February, discussing ways to enhance bilateral cooperation.

Official Syrian media quoted both sides as confirming their commitment to "broad future plans" in the fields of energy, technology, education, and health, reflecting the two countries' direction towards a comprehensive strategic partnership.