DAMASCUS — 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, set to take place Thursday, marking a significant step toward restoring economic cooperation between the two countries. The visit, conducted under the directive of Crown Prince Mohammed bin Salman, includes the participation of more than 150 Saudi businessmen and investors. It reflects the Kingdom's growing commitment to supporting Syria's economic recovery through direct engagement and private sector involvement. The Ministry of Investment, in coordination with the Federation of Saudi Chambers, is leading efforts to enable Saudi businesses to participate in reconstruction and development opportunities across Syria. The forum is expected to witness the announcement of investment agreements worth SR21 billion across 11 key sectors. These include real estate, infrastructure, information and communications technology, transportation, industry, tourism, energy, trade and investment, healthcare, human resources, and financial services. According to sources, the deals will include residential and commercial developments in cities such as Damascus and Homs, the construction of cement and gypsum factories to support local industry, and advanced digital infrastructure projects that will help modernize Syria's communications systems and data capabilities. Further agreements will address energy generation, hospital rehabilitation, pharmaceutical manufacturing, vocational training, and the revitalization of Damascus International Airport in line with international standards. In addition, financial sector agreements will focus on enabling fintech collaboration, dual listings, and sustainable investment initiatives. The forum will also serve as a platform for 38 memorandums of understanding to be signed between Saudi and Syrian stakeholders. More than 150 Saudi representatives from both public and private sectors are expected to attend, alongside over 400 participants from Syria. The event is seen as a pivotal moment in reviving bilateral ties and fostering a new era of trust, economic partnership, and joint development. Saudi officials have emphasized that the initiative aligns with the vision of Crown Prince Mohammed bin Salman to promote regional prosperity through strategic investment and cooperation. The Ministry of Investment said the forum embodies Saudi Arabia's belief in investment as a tool for peace, stability, and mutual growth—contributing to the rebuilding of Syria while reinforcing the Kingdom's role in leading regional development and integration under Vision 2030.
