Syria officially announced the launch of its first-ever investment forum with Saudi Arabia on Wednesday, marking a milestone in bilateral relations and Syria’s efforts to revitalize its economy under the new transitional government.
According to Syrian Information Minister Hamzah al-Mustafa, the event is expected to result in 44 agreements worth nearly $6 billion, covering key sectors such as banking, construction, cybersecurity, energy, and artificial intelligence.
The deals are projected to create up to 50,000 job opportunities and will include both public and private sector participation.
“This Syrian-Saudi economic forum is the first of its kind, and we hope it becomes an annual event,” said Mustafa, emphasizing the forum’s long-term potential for development-focused investment.
The forum, scheduled to officially begin on Thursday, was confirmed by Saudi Investment Minister Khalid bin Abdulaziz Al-Falih via a post on X.
The Saudi delegation, which arrived in Damascus early Wednesday, includes more than 130 business leaders and investors, underscoring Riyadh's serious commitment to restoring and strengthening bilateral ties.
“We must respectfully acknowledge the role Saudi Arabia plays toward Syria,” Mustafa said. “We are working on updating our legislative infrastructure to attract and encourage foreign investment. In the next phase, we will focus on drawing in investments aimed at development, not just profit.”
The agreements are set to span all 14 Syrian provinces, demonstrating an inclusive and nationwide approach to economic recovery. The sectors targeted reflect Syria’s aim to modernize its economy with an emphasis on innovation and technology.
The launch of the forum follows a series of high-level visits and growing cooperation between the two countries.
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