World

Saudi Arabia, Syria sign major investment deals

Published: 06:07 PM,Jul 24,2025 | EDITED : 10:07 PM,Jul 24,2025

Saudi Crown Prince Mohammed bin Salman with Hazem al Sharaa, the brother of Syrian President Ahmed al Sharaa, in Riyadh. — Reuters
 
Saudi Crown Prince Mohammed bin Salman with Hazem al Sharaa, the brother of Syrian President Ahmed al Sharaa, in Riyadh. — Reuters

DAMASCUS: Saudi Arabia on Thursday signed major investment and partnership deals with Syria, valued at $6.4 billion, to help rebuild the war-ravaged country’s infrastructure, telecommunications and other major sectors.
Saudi Arabia has been a major backer of the new Syrian government, which seized power after an offensive toppled longtime Syrian ruler Bashar al Assad in December.
Speaking at the Syrian-Saudi Investment Forum in the Damascus presidential palace, Saudi Investment Minister Khalid Al Falih announced “the signing of 47 agreements and memoranda of understanding... with a total value of nearly 24 billion Saudi riyals (around $6.4 billion)”.
With interim President Ahmed al Sharaa and other officials in attendance, Syrian Economy Minister Mohammed al Shaar called the forum “a historic milestone in the history of relations between our two brotherly countries”. — AFP