RIYADH: Saudi Arabia has signed investment deals worth $6.4 billion with Syria, marking a significant step in the Kingdom’s efforts to re-engage economically with the war-ravaged country and support its reconstruction drive.
The agreements, spanning sectors such as real estate, telecommunications, and finance, were unveiled by Investment Minister Khalid Al-Falih during the Syrian-Saudi Investment Forum held in Damascus on July 25.
The forum highlights Saudi Arabia’s strong commitment to strengthening Syria’s financial landscape. In April, the Kingdom joined Qatar in settling the country’s $15 million debt to the World Bank.
“During this forum, we will witness the signing of 47 agreements and memoranda of understanding with a total value approaching SR24 billion ($6.4 billion), said Al-Falih.
The deals include $1.07 billion in the telecommunications sector, with Syria’s Ministry of Communications and several Saudi telecom companies aiming to deepen bilateral ties.
