Saudi Arabia to sign $4 billion investment deals with Syria

Dubai: Saudi Arabia is expected to sign investment agreements worth SR15 billion (approximately $4 billion) with Syria during the Syrian-Saudi Investment Forum, which opened Wednesday in Damascus, marking a major step in the restoration of economic ties between the two nations.

The event, organised by the Saudi Ministry of Investment, brings together officials and private sector leaders from both countries and is part of a broader initiative to enhance bilateral cooperation. According to the ministry, the forum aims to promote sustainable development through joint ventures and sector-specific partnerships.

The investment push follows directives from Saudi Crown Prince Mohammed bin Salman and comes amid a broader diplomatic thaw between Riyadh and Damascus. It also reflects Saudi Arabia’s vision for greater regional integration and economic cooperation across the Middle East.

In a statement, the ministry said the forum builds on shared history and cultural ties between Saudi Arabia and Syria and underscores the Kingdom’s commitment to contributing to Syria’s stability and long-term prosperity.

As part of the preparations, the Ministry of Investment—working in collaboration with the Federation of Saudi Chambers—has dispatched a high-level delegation to Damascus. The delegation includes representatives from leading Saudi firms across industries such as infrastructure, manufacturing, agriculture, and technology.

The visit includes meetings with Syrian public and private sector stakeholders to identify opportunities, address investment barriers, and lay the groundwork for future collaboration. Several memorandums of understanding and joint venture agreements are expected to be signed during the forum.

The ministry has also invited additional Saudi companies interested in participating in Syria’s recovery and development to register via a dedicated platform. Interested firms are encouraged to provide an overview of their operations, sectors of interest, and planned activities in Syria.

The forum marks one of the most substantial economic engagements between the two countries since the suspension of formal ties nearly a decade ago.