Syrian-Saudi Investment Forum kicks off in Damascus
A senior Saudi delegation led by Saudi Investment Minister Khalid al-Falih arrived in Damascus on Wednesday to take part in the forum, which was launched under the direction of Crown Prince Mohammed bin Salman as part of efforts to help Syria rebuild.
The delegation's visit to Damascus reflects Saudi Arabia's support for Syria, Saudi Investment Minister Khalid al-Falih said at the opening of the forum in the attendance of Syrian President Ahmed al-Sharaa.
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Arab News
2 hours ago
- Arab News
Saudi Arabia's Syria investment a strategic bet on stability
When Saudi Investment Minister Khalid Al-Falih led a delegation of more than 130 businessmen and investors into Damascus on July 23, the timing could hardly have been more precarious. The visit, authorized by Crown Prince Mohammed bin Salman, came as sectarian violence raged in Sweida province, claiming innocent civilian lives, and Israeli strikes targeted Syria's Defense Ministry and security forces stationed in Sweida. Yet this $6 billion investment push represents something far more than a fleeting diplomatic or economic gesture. It embodies the Kingdom's enduring political doctrine, grounded in understanding and cooperation rather than confrontation and estrangement. Despite daunting security and economic obstacles, Saudi Arabia's unwavering political commitment signals a potential turning point for Syrian stability and reconstruction. The Kingdom views Damascus not as a distant investment opportunity but as a critical buffer against regional chaos. Riyadh's strategic imperative is clear: prevent Syria's fragmentation into warring fiefdoms or its evolution into a sanctuary for extremist groups that could destabilize the entire neighborhood. Through active diplomacy, Saudi Arabia has convinced the American administration to lift economic sanctions on Syria and pushed for the new Damascus regime's integration within its Arab sphere. This positions Riyadh ideally to lead this gradual transformation in Damascus — not only for Syria's benefit but also to reshape the entire regional order on solid foundations: security, development and sovereignty. Saudi Arabia's foreign policy strategy seeks to shield Syria from becoming a battleground for broader regional rivalries while working to reestablish stability. This approach aligns with the Kingdom's broader vision of promoting security and development across the region. One of the primary avenues for reducing conflict in Syria involves improving citizens' living conditions and establishing infrastructure that provides access to essential daily services: healthcare, education, transport, communication and others. Additionally, the government must be capable of curbing inflation, high prices and unemployment, while maintaining the ability to pay state employees' salaries. The investment package, encompassing 47 agreements and memorandums of understanding with a total value of between $6 billion and $6.4 billion, dwarfs the $2.8 billion in Saudi investments Syria attracted before 2011. Infrastructure and real estate projects account for $2.93 billion of this amount, while the telecommunications and information technology sectors represent approximately $1.07 billion in commitments. The signed agreements encompass housing, tourism, healthcare, recreation and basic facility projects, including the construction of three new cement factories and the launch of the country's first white cement factory with an investment of about $20 million. The agreements also include a massive real estate project in Damascus, known as Al-Jawhara Tower and valued at $100 million. The implementation of these projects will follow a designated timeline and is expected to generate about 50,000 direct employment opportunities and 150,000 indirect jobs within Syria's economy. The initiatives are also anticipated to attract investment from other nations into the Syrian market, as Saudi Arabia's involvement is expected to catalyze additional future investment efforts rather than remain an isolated action. Saudi Arabia's Syria strategy exemplifies what analysts call 'positive containment' — ensuring Syria is not left exposed to security and political instability, while preventing regional imbalances that might drive regional powers into destructive roles, similar to Israel's current military interference in Syria's internal affairs. This approach requires a delicate balancing act. Riyadh must work with Syria's new leadership without alienating Iran and Russia, Bashar Assad's former backers, while avoiding confrontation with Turkiye and Israel, both of which maintain significant interests in Syrian territory. This approach also aligns with Saudi Arabia's new foreign policy, which is based on stability, partnership and de-escalation. Syria's reconstruction stands as the primary objective for the upcoming period. Establishing a politically and security-stable environment under equitable legal governance, where the state maintains exclusive control over weapons and the government operates without sectarian or ethnic quota systems, will build investor confidence in the Syrian market and motivate their participation. This represents the direction Saudi Arabia is currently pursuing in its approach toward Syria. Nevertheless, the Syrian government holds primary responsibility for dismantling armed militias, resolving sectarian and ethnic tensions, establishing modern state institutions and pursuing transparent, constructive dialogue that fosters a unified national identity in which all Syrians feel included and represented. The Kingdom views Damascus not as a distant investment opportunity but as a critical buffer against regional chaos. Hassan Al-Mustafa Despite the optimistic projections, significant obstacles remain. Syria's security situation remains fragile, particularly in the south and areas populated by Druze, Kurds and Alawites. Furthermore, the new political landscape poses challenges, as the current government is perceived as catering to transitional interests and may encounter claims that it reinforces particular sectarian influence or religious-based economic policies, stemming from distrust among Syria's diverse population and recent transgressions by various armed groups. Institutional weakness poses another challenge. Years of conflict have decimated Syria's legal and regulatory framework. Building a strong judicial and legal system will encourage companies and investors to enter Syria with greater momentum. Saudi Arabia has maintained and continues to fulfill important constructive roles supporting Syria, its security, stability and the success of its new transitional period. The ultimate success of Saudi investment in Syria depends on factors beyond Riyadh's control. The Syrian government must demonstrate genuine commitment to establishing internal stability, ensuring a transparent operational environment and incorporating Syrian civil society into oversight and implementation processes, so that local investors and citizens can participate in the reform initiative and civil state development.
Arab News
7 hours ago
- Arab News
Dubai International Airport sets H1 passenger record with 46m travelers
RIYADH: Dubai International Airport handled 46 million passengers in the first half of 2025, marking its busiest six-month period on record despite regional airspace disruptions and global headwinds. In a press release, operator Dubai Airports said the 2.3 percent year-on-year increase underscores the continued strength of the emirate's aviation sector and the terminal's operational resilience. The growth came despite temporary airspace restrictions in May and June, which forced several Gulf carriers to reroute flights and adjust schedules due to heightened military activity and no-fly zone declarations in parts of the Middle East. Paul Griffiths, CEO of Dubai Airports, said: 'DXB's continued growth through a period of regional challenges highlights the strength of Dubai and the UAE, the agility of our operations, and the commitment of our airport community.' In the second quarter alone, the airport handled 22.5 million passengers, a 3.1 percent increase over the same period last year. April was the busiest month of the quarter and the most active April on record, with 8 million travelers. Average monthly traffic during the first half stood at 7.7 million passengers, with daily volumes averaging 254,000. January was the busiest month, setting a new monthly record with 8.5 million passengers. In the second quarter alone, DXB served 22.5 million guests, an increase of 3.1% over the same period last year. April emerged as the busiest month of the quarter and the most active April on record, with 8 million guests passing through the terminals. — Dubai Media Office (@DXBMediaOffice) July 29, 2025 DXB also handled 222,000 flights and processed 41.8 million bags in the first half, with 91 percent delivered within 45 minutes of arrival. The mishandled baggage rate stood at 2 bags per 1,000 passengers, well below the industry average of 6.3, the release added. 'As we enter the second half of the year, travel activity is expected to accelerate, beginning with the late-summer peak and leading into a winter season filled with high-profile events across entertainment, sport, and business,' said Griffiths. He said the Dubai Airshow 2025 will be a standout event, poised to break previous records and highlight the bold vision driving the future of aviation and aerospace. 'Based on our performance to date and a positive outlook, we expect the annual traffic to reach 96 million this year, bringing us closer to the symbolic 100 million milestone,' added Griffiths. India remained DXB's top market in the first half of the year, with 5.9 million passengers, followed by Saudi Arabia with 3.6 million. The UK accounted for 3 million passengers, while Pakistan and the US recorded 2.1 million and 1.6 million, respectively. London was the busiest city destination with 1.8 million passengers, followed by Riyadh, Mumbai, Jeddah, New Delhi, and Istanbul. DXB also processed more than 1 million tonnes of cargo during the first half of 2025, a 0.1 percent increase compared with the same period last year. The airport is connected to more than 269 destinations in over 107 countries and is served by 92 international carriers.
Al Arabiya
7 hours ago
- Al Arabiya
France to air-drop aid into Gaza: Diplomatic source
France will air-drop aid into Gaza 'in coming days,' a diplomatic source said on Tuesday, as UN-backed experts warned the Israeli-blockaded Palestinian territory was slipping into famine. 'France will carry out air drops in the coming days to meet the most essential and urgent needs of the civilian population in Gaza,' the source said, also urging 'an immediate opening by Israel of the land crossing points.'
