Saudi Arabia and Syria Sign More Than $6 Billion in Investment Deals
The agreements signed at the Syrian-Saudi Investment Forum cover a wide range of sectors, including real estate, telecommunications and finance. The planned projects include housing, the reconstruction of war-damaged areas, the development of tourism, medical and entertainment sites, skyscrapers, and three new cement factories.
Syrian Minister of Information Hamza al-Mustafa said the deals are expected to create around 50,000 direct and 150,000 indirect job opportunities.
Saudi Arabia has been strongly supportive of the interim government in Syria led by President Ahmed al-Sharaa since the fall of former President Bashar Assad in a lightning opposition offensive.
The country faces major economic and social challenges. The United Nations in 2017 estimated that it would cost at least $250 billion to rebuild Syria after years of civil war. Some experts now say that number could reach at least $400 billion.
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