Saudi Arabia and Syria seal accord securing each other's financial ventures
Foreign investments in Syria from Saudi Arabia have significantly increased in 2025, marking a major renewal of economic cooperation aimed at Syria's post-civil war recovery.
Last month, the kingdom signed on agreements with Syria worth 24 billion Saudi riyals ($6.4 billion) to support the rebuilding of the Syrian economy [1][2]. A total of 47 deals from more than 100 Saudi and international companies were signed at the Syrian-Saudi Investment Forum [3].
The agreement is focused on industry, services, infrastructure, and tourism [4]. Key contributions of these investments include infrastructure and reconstruction projects, real estate and tourism development, trade growth, investment facilitation, and political and economic support [5].
Saudi companies are partnering with Syrian firms to rebuild critical infrastructure, such as a joint project for a cement plant with a daily capacity of 6,000 tonnes [5]. Saudi expertise, particularly from leading developers like ROSHN, is being leveraged to revitalize Syria’s property and tourism sectors [1]. Bilateral trade surged by 80% to about SR900 million in the first five months of 2025, with expectations to exceed SR2 billion for the year [1].
New legal frameworks, investment protection agreements, and proposals for a Saudi-managed “Fund of Funds” to support and channel investments are enhancing the business environment and investor confidence in Syria [5]. The agreement also aims to counterbalance Iranian influence in Syria, recalibrating regional alliances [4].
Notable investments include Dubai port operator DP World signing an $800 million agreement to develop the port of Tartus [3]. Emirati businessman Khalaf Al Habtoor indicated potential investments in Syria [6]. Saudi Investment Minister Khalid Al Falih reiterated Riyadh's commitment to strengthening "deep and sustainable" investments in both countries [7].
The agreement signed on August 18, 2025, is a follow-up to Saudi Arabia's initiative to support the Syrian economy, which has opened up following the toppling of former president Bashar Al Assad's regime and the removal of western sanctions [8]. Saudi Crown Prince Mohammed bin Salman held talks with Syrian President Ahmad Al Shara in Riyadh in February [9].
This engagement also indicates a reciprocal economic relationship, with Syrian investments into Saudi Arabia growing substantially [1][4]. The continuing economic developments are major victories for Syrian President Ahmad Al Shara, who has been leading the country's rebuilding strategy after the downfall of Mr Al Assad in December last year [10].
Hussam Eddin Tatari, the head of the Syria-Turkey Business Council, mentioned a "very large" scope for cooperation between Syria and Turkey earlier this month [11]. Turkey announced plans to export approximately 900 megawatts of electricity to Syria by the first quarter of 2026 [12].
In summary, Saudi Arabia’s foreign investments are playing a crucial role in Syria’s economic recovery by injecting capital, expertise, and trade opportunities that are helping to rebuild the war-torn country’s economy and infrastructure after more than a decade of civil conflict [2][3][5].
References:
- Our Website
- The National
- Arab News
- Reuters
- Gulf Business
- Khaleej Times
- Arab News
- The National
- Syria's state news agency Sana
- Our Website
- Our Website
- Anadolu Agency
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