Syria on Wednesday finalised 12 major investment agreements totalling $14 billion, part of an ongoing effort to repair its economy and infrastructure after more than a decade of civil conflict.
The contracts were signed during a ceremony in Damascus, attended by interim President Ahmed al-Sharaa, and cover sectors such as transportation, infrastructure, and real estate.
Among the most high-profile deals is a $4 billion agreement with Qatar’s UCC Holding to construct a new international airport in Damascus. Additionally, the UAE's national investment corporation will fund a $2 billion subway system in the Syrian capital – a first for the country.
Another flagship project, the $2 billion Damascus Towers development, was signed with Italy-based firm UBAKO, focusing on luxury mixed-use towers expected to reshape the city skyline.
These new agreements follow a separate $6.4 billion deal inked with Saudi Arabia in July, which included housing and industrial projects. Syria’s Ministry of Economy said these partnerships are “part of a national strategy to attract foreign investment for post-war reconstruction.”
Syria’s civil conflict, which began in 2011, has devastated its economy, leaving more than 90% of the population living in poverty, according to the United Nations. More than 13 million people remain displaced or in need of humanitarian assistance.
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Syrian President Ahmad al-Sharaa arrived in Qatar on Friday to take part in the 2025 Doha Forum, the annual global conference bringing together political leaders, business figures, and academics.
Syrian President Ahmed al-Sharaa met on Tuesday with delegations from U.S. energy giant Chevron and the Syrian Petroleum Company to discuss potential cooperation in oil and gas exploration projects along Syria’s Mediterranean coast, the state-run SANA news agency reported.
The U.S. military said on Sunday it had destroyed 15 sites containing Islamic State (ISIS) weapons caches in southern Syria, in one of the most extensive joint operations with Syrian forces in recent years.
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Pakistan and Afghanistan exchanged heavy fire along their shared border late on Friday, a reminder of how sensitive the frontier remains despite ongoing diplomatic efforts.
Iran’s Foreign Ministry has strongly condemned the Gulf Cooperation Council (GCC) for its support of the claims by United Arab Emirates on three Iranian islands.
Chinese leader Xi Jinping accompanied French President Emmanuel Macron to Chengdu on Friday, a rare gesture seemingly reserved for the head of Europe's second-largest economy that highlights Beijing's focus on Paris in its ties with the European Union.
More than 60 Indigenous artifacts held in the Vatican for 100 years, including a rare Inuit kayak, arrived in Montreal, where First Nation, Métis and Inuvialuit leaders welcomed them home with ceremony, song and emotion.
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