Syria and Saudi Arabia ink 47 agreements valued at over $6bn
On Thursday, Syria and Saudi Arabia signed 47 investment agreements worth over $6 billion, marking the conclusion of the Syrian-Saudi Investment Forum, which was 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, News.Az reports citing foreign media.
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.
For his part, Saudi Minister of Investment Khalid bin Abdulaziz al-Falih praised the bold 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.
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