DAMASCUS — The Saudi-Syrian Investment Forum 2025 concluded in Damascus on Thursday with the signing of 47 agreements and memorandums of understanding valued at SR24 billion ($6.4 billion). Minister of Investment Khalid Al-Falih announced during the opening that Crown Prince Mohammed bin Salman had ordered the formation of a high-level Saudi-Syrian Joint Business Council, emphasizing the Kingdom's commitment to supporting Syria's reconstruction and economic integration. The forum was held in the presence of Syrian President Ahmed Al-Sharaa and attended by more than 100 Saudi private companies and 20 government entities. The forum is seen as the launch of a new investment era, aiming to foster partnerships across energy, infrastructure, industry, real estate, finance, health, agriculture, and ICT. Al-Falih stated that the new business council would be chaired by prominent businessman Mohammed Abunayyan and include top Saudi executives. "The private sector is ready to play a key role in Syria's economic recovery," he said. Major agreements included over SR11 billion ($2.9 billion) in infrastructure and real estate deals, including three new Saudi-financed cement plants to support Syria's reconstruction. ICT collaborations were also announced, including partnerships between the Syrian Ministry of Communications and major Saudi tech firms such as STC and Elm, valued at SR4 billion ($1.06 billion). The two sides also agreed to deepen cooperation in agriculture, with plans to develop model farms, food supply chains, and organic production. In finance, a key MoU was signed between the Saudi Tadawul Group and the Damascus Securities Exchange to explore dual listings, fintech, and new investment funds. Al-Falih praised the Syrian government's recent reforms, including amendments to the investment law enacted in June, which enhanced investor protections and streamlined regulatory processes. He also highlighted that Syrian investments in Saudi Arabia currently total SR10 billion ($2.66 billion), signaling a path toward strategic economic integration. The forum concluded with a showcase of Syrian investment opportunities, setting the stage for what both sides described as a "transformative partnership" rooted in shared history and mutual economic goals.
