RIYADH: Saudi Arabia and Syria have signed an agreement to protect and promote mutual investments between both countries.
The deal was signed on the sidelines of a roundtable in Riyadh, following the arrival of a Syrian delegation of government officials and private sector leaders, led by the country’s Economy and Industry Minister Mohammad Nidal Al-Shaar.
The event builds on last month’s Syrian-Saudi Investment Forum in Damascus, where over 100 firms from the Kingdom, alongside 20 government agencies, signed 47 deals worth $6.4 billion across sectors including real estate, infrastructure, and finance, as well as telecom, energy, and industry.
In a post on its official X account, the Saudi Ministry of Investment described the latest deal as “a step that reflects the depth of investment ties and paves the way for distinctive cooperation between the two nations.”
The ministry added that the scope includes safeguarding investors and investments, accelerating integration, ensuring a secure environment backed by favorable laws, and boosting the flow of capital into key sectors.
