Syrian Arab News Agency S A N A
Damascus, SANA-Minister of Information Dr. Hamza al-Mustafa affirmed that the Syrian-Saudi Investment Forum, the first of its kind between the two countries, aims to build strategic and developmental partnerships that support cooperation and economic openness.
Minister al-Mustafa announced at a press conference in Damascus the launching of the Syrian-Saudi Investment Forum, under the sponsorship of the Supreme Council for Economic Development and with the participation of the Syrian Investment Authority, as part of efforts to strengthen economic relations between the two brotherly nations.
Al-Mustafa stated that the forum will witness the signing of 44 agreements and memoranda of understanding worth nearly $6 billion, with expectations of additional agreements being signed over the next week across various sectors. This reflects mutual trust and opens new horizons for economic cooperation between Damascus and Riyadh.
The Minister of Information stated that these agreements are expected to create around 50,000 direct and 150,000 indirect job opportunities. They encompass all sectors, especially finance, banking, real estate, construction, and cybersecurity, in addition to telecommunications, tourism, energy, and others. This confirms that the Syrian market is a promising one, full of opportunities, rich in resources, and enjoying unique competitive advantages, opening its arms to every Arab or international investor.
Minister al-Mustafa pointed out that the forum is the culmination of the efforts of the Kingdom of Saudi Arabia, its leadership and people, in supporting of cooperation and openness with Syria. He stressed that President Ahmad al-Sharaa’s visit to Riyadh marked the beginning of a new phase in bilateral relations and paves the way for Syria’s return to its rightful place both in the Arab world and internationally.
Al-Mustafa underlined that the Syrian government is working on updating the legislative environment to align with investment requirements through the establishment of the Supreme Council for Economic Development and the Sovereign Fund, as well as by providing legal and legislative guarantees to protect investors and create an attractive and safe investment environment.
The Minister also revealed the Supreme Council for Economic Development’s intention to organize similar investment forums with Arab and European countries in the upcoming phase. This is part of Syria’s new vision to present itself as a promising market and fertile ground for long-term investments. He added, “The new Syria offers vast investment opportunities after decades of tyranny and corruption. The Syrian government wants to prove to the world that Syria is a safe and attractive zone for all investments and investors.”
Al-Mustafa added that the meetings held on the sidelines of the forum brought together businessmen from both the public and private sectors in the two countries, enhancing prospects for future bilateral cooperation. He affirmed that the upcoming Saudi investments will cover various Syrian provinces, including affected areas.
The Minister explained that lifting sanctions on Syria was achieved through significant efforts by various countries, led by the Kingdom of Saudi Arabia and its Crown Prince, Mohammed bin Salman, who played a vital and proactive role. He pointed to the pivotal role of the media in highlighting the positive impact of investments with Saudi Arabia.
Minister of Information stressed that Syria has a good and historic relationship with Saudi Arabia, which holds a respected and beloved place in the hearts of Syrians. These relations will see tangible progress in various fields in the upcoming period.
MHD Ibrahim
