In a significant step toward Syria’s reconstruction, Saudi Arabia on Thursday finalized investment and partnership deals with Damascus valued at $6.4 billion, targeting the revival of critical sectors such as infrastructure, telecommunications, agriculture, and finance.
The announcement was made during the Syrian-Saudi Investment Forum held at the Damascus presidential palace, where top officials from both nations convened to mark a new chapter in bilateral cooperation.
Saudi Investment Minister Khalid Al-Falih confirmed the signing of 47 agreements and memoranda of understanding, amounting to nearly 24 billion Saudi riyals. These deals are part of Saudi Arabia’s wider efforts to support Syria’s recovery after years of devastating civil war.
“Syria and Saudi Arabia are opening a new page of partnership,” Al-Falih declared, highlighting the focus on infrastructure and cyber-security development, alongside investments in agriculture and the financial sector.
Out of the total commitment, 11 billion riyals (approximately $2.9 billion) will go into infrastructure development, including the construction of three new cement factories. Meanwhile, the telecommunications sector will receive 4 billion riyals (about $1.07 billion) to support infrastructure modernization and cyber-security improvements, aimed at bolstering Syria’s digital resilience.
Syria’s interim President Ahmed al-Sharaa, alongside senior officials, welcomed the agreements, with Economy Minister Mohammed al-Shaar describing the forum as “a historic milestone in the history of relations between our two brotherly countries.”
This wave of investments marks a significant shift following last December’s political turnover, where a new Syrian government took power after Bashar al-Assad’s ousting in an Islamist-led offensive.
The rebuilding process is expected to be massive. The United Nations has estimated the cost of reconstruction at over $400 billion, underscoring the scale of the damage caused by Syria’s 14-year civil war.
Earlier this month, US President Donald Trump formally lifted longstanding sanctions on Syria, completing the phased rollback that began in May. This decision came after lobbying from Saudi Arabia and Turkey, both of which have expressed strong interest in Syria’s reintegration into the global economy.
In May, Syria also entered into a $7 billion energy agreement with a multinational consortium of Qatari, Turkish, and American firms, aimed at restoring its battered electricity grid.
What You Should Know
Saudi Arabia’s $6.4 billion investment in Syria signals a pivotal moment in regional politics and economic diplomacy.
With US sanctions now lifted, Syria is poised to re-enter the global economic stage, and Saudi Arabia is taking a leading role in its reconstruction.
The move strengthens Saudi influence in the Levant and aligns with broader geopolitical shifts in the Middle East.
