Doha: Syria and Saudi Arabia Thursday signed 47 investment agreements with a total value exceeding $6 billion, marking the conclusion of the Syrian-Saudi Investment Forum, held under the patronage and in the presence of Syrian President Ahmad Al Shar’a. The agreements covered a wide range of sectors, most notably industry, tourism, finance, housing, telecommunications, and logistics services.
According to Qatar News Agency, major projects announced include the establishment of three new cement factories and the development of commercial and residential buildings in Damascus and Homs. Syrian Minister of Economy and Industry Mohammad Nidal Al Shaar stated in his speech at the forum that the launch of this cooperation with Saudi Arabia after decades of hiatus represents a great opportunity to build a new Syria, noting that the country is witnessing genuine progress toward growth and prosperity.
Saudi Minister of Investment Khalid bin Abdulaziz Al Falih praised the steps taken by the Syrian government to improve the investment climate, affirming the Kingdom’s keenness to foster economic relations with Syria. He noted the participation of more than 20 government entities and 100 private sector companies from Saudi Arabia at the forum, calling on Syrian investors to take advantage of the wide investment opportunities available in the Kingdom.