RIYADH — Saudi Minister of Investment Eng. Khalid Al-Falih and Syrian Minister of Economy and Industry Dr. Mohammad Nidal Al-Shaar have signed an agreement to promote and protect investment between the two countries. The pact was inked on the sidelines of a roundtable meeting that began in Riyadh on Monday morning. Senior Saudi and Syrian officials emphasized that the agreement is the culmination of ongoing efforts to activate strategic partnerships and expand the base of joint investments. It aims to create an attractive legal and investment environment as well as to provide practical frameworks that guarantee investment protection. This would also facilitate the flow of capital, contributing to the development of vital sectors including industry, services, infrastructure, and tourism. Speaking on the occasion, Al-Falih said that the agreement falls within the Kingdom's vision to strengthen its economic partnerships with Arab countries and create promising investment opportunities. He noted that the signing of the agreement with Syria reflects the trend toward sustainable cooperation that supports the stability and prosperity of the region. Al-Shaar considered the signing of the agreement as a qualitative shift in the course of economic relations between Syria and Saudi Arabia, as well as opening up broad horizons for fruitful investment cooperation that achieves mutual benefit and strengthens fraternal ties between the two peoples. He highlighted the importance of the Saudi role in supporting the economic recovery process in Syria. A high-level Syrian delegation, led by Minister Al-Shaar, arrived in Riyadh on an official visit aimed at strengthening economic ties between the two countries. The visit follows the outcomes of last month's Saudi-Syrian Investment Forum, which was held in Damascus under the patronage of Syrian President Ahmad Al-Sharaa and brought together over 100 Saudi companies and 20 Saudi government entities. The forum concluded with the signing of 47 investment agreements in key sectors valued at over SR24 billion.
