Syria, Saudi Arabia sign 6-bln-USD investment deals

Alsharq Tribune-AFP 

Syria and Saudi Arabia signed 46 agreements and memoranda of understanding worth 6 billion U.S. dollars here on Thursday during a high-level investment forum, according to Syria's state-run SANA news agency.

The forum was held in the presence of Syrian leader Ahmad al-Sharaa, with participation from ministers, senior officials, and over 100 Saudi business leaders. The Saudi delegation was led by Investment Minister Khalid Al-Falih.

Syrian economy and industry authorities chief Mohammad Nidal al-Shaar described the forum as a "turning point" in bilateral ties, signaling a new era of strategic partnerships. He emphasized Syria's commitment to creating a favorable investment climate and facilitating investor access across key sectors.

Al-Falih said the Saudi delegation included over 20 government bodies and major private sector firms, expressing optimism about cooperation in energy, infrastructure, real estate, healthcare, agriculture, and technology.

He announced plans for a Saudi-Syrian business council and revealed new projects, including the construction of three cement factories and a major real estate investment in Homs.