Latest news with #Syrian-SaudiInvestmentForum2025
Asharq Al-Awsat
4 days ago
- Business
- Asharq Al-Awsat
Saudi Role Pivotal as Syria Hosts Investment Forum in Damascus
In a symbolic and strategic move, Syria and Saudi Arabia took a major step toward deepening economic ties this week with the launch of the Syrian-Saudi Investment Forum 2025, held at the People's Palace in Damascus. The event brought together top officials from both countries, including Syrian President Ahmad Al-Sharaa and Saudi Minister of Investment Khalid Al-Falih, along with over 120 Saudi investors and business leaders. The forum marks the most significant Saudi economic delegation to visit Syria in over a decade, and comes amid a broader push by Damascus to attract regional and international investment to rebuild the war-torn country. Speaking to Asharq Al-Awsat, Osama Qadi, Senior Advisor to Syria's Ministry of Economy and Industry, described the forum as a turning point. 'Saudi Arabia is helping to write a new chapter in Syria's economic history,' he said. 'The Kingdom is not only a political and security partner, it will be remembered as the driving force behind what could become Syria's economic miracle.' Qadi said Saudi Arabia's presence signaled deep trust in Syria's post-conflict potential. 'This initial delegation of over 120 Saudi business leaders is just the beginning,' he noted. 'Minister Al-Falih has committed to encouraging investment not only from the Kingdom but from countries across the globe.' According to Qadi, Saudi investments send a powerful signal to the international business community that Syria is stable and open for investment. 'The presence of Saudi capital builds trust,' he said. 'It shows that Syria is safe, serious about reform, and prepared to welcome global partnerships.' He emphasized that the large-scale destruction resulting from years of conflict has created opportunities in reconstruction, particularly for real estate developers, contractors, and urban planners. In this context, he said: 'The ruins can be rebuilt into a modern Syria... Before 2011, Syria already had widespread informal housing. Now, we have the opportunity to design cities with green spaces, modern infrastructure, and sustainable architecture - all while preserving local heritage.' Qadi added that the Syrian government sees this as a chance to rebuild in line with global standards. 'Together with our partners, we can build a Syria of 2025, with smart cities, environmentally friendly construction, and livable communities for the next generation,' he underlined. The timing of the forum, he noted, sends a strong political message to skeptics. 'Even as some areas of the country, like Sweida, remain unstable and US lawmakers debate the future of the Caesar Act sanctions, this forum shows that serious investors believe in Syria's future,' he remarked. Qadi expressed hope that Saudi engagement would trigger a ripple effect, saying: 'Together with the Kingdom, we can attract the largest number of investors, companies, and projects. This will create jobs and help Syria become one of the region's most attractive investment destinations.' At a press conference Wednesday night, Syrian Minister of Information Hamza Al-Mustafa officially launched the forum under the auspices of the Supreme Council for Economic Development and in partnership with the Syrian Investment Agency. Al-Mustafa praised Saudi Arabia's role as 'a key player in the Arab regional order and a very important global actor.' He also highlighted the strong historical and cultural ties between the two countries. 'Saudi Arabia holds a special place in the hearts of all Syrians. That's why President Al-Sharaa's first official visit abroad was to Riyadh. Syria received a warm welcome and a clear signal of Saudi commitment to our recovery,' the minister stated. Al-Mustafa further said the forum reflects Syria's readiness to turn the page. 'After decades of authoritarian rule and economic stagnation, Damascus is now presenting itself as a serious opportunity for investors. The soil is fertile, the environment is right, and we welcome all those who want to be part of Syria's renewal,' he affirmed.
Zawya
4 days ago
- Business
- Zawya
Syria adopts Saudi investment protection agreement to attract investors
DAMASCUS — Syria has formally adopted a Saudi-developed agreement for the protection of foreign investors, laying the foundation for future investments flowing into the country. The move marks a key milestone in Syria's efforts to rebuild its economy with support from Saudi expertise, which has driven transformative growth in multiple sectors in recent years. The announcement was made during a ministerial session of the Syrian-Saudi Investment Forum 2025, held Thursday with the participation of senior ministers and officials from both countries. Saudi Minister of Investment Eng. Khalid Al-Falih said Syria was entering a new phase with strong appetite for investment and discovery of opportunities. 'We are confident that Syrians will revive their country's economy. Transparency and investor guarantees are essential and encouraging,' he said. 'What we're witnessing today will spark a wave of projects in Damascus.' Syria's Minister of Economy, Mohammad Al-Shaar, emphasized that the country had waited decades for this moment to initiate a genuine economic partnership with Saudi Arabia. 'We were deprived of this relationship for 60 years due to personal interests on the Syrian side,' he said, praising Saudi Arabia's model of economic transformation as one to emulate. Al-Shaar explained that every investment project passes through three phases: opportunity exploration, investor consultation, and a final decision leading to execution. He confirmed that Syria would secure the investment environment through a combination of constitutional guarantees, investment laws, and the adoption of the Saudi-developed foreign investment protection framework. Tourism Minister Mazen Al-Salehani announced the preparation of new four- and five-star resorts and hotels, alongside the launch of a revamped ministry website to facilitate investor engagement. He highlighted Syria's vast archaeological and heritage sites, and the growing interest in "return tourism" — a term for Syrians abroad returning to reassess past assets and reinvest. He also emphasized community inclusion in new tourism projects: 'Every investment will involve the local population in building the future.' Saudi-Syrian Business Council Chairman Mohammed Abunayyan underscored the Kingdom's efforts to form global alliances to invest in Syria. He praised Syrian President Ahmad Al-Sharaa's comprehensive economic vision and called it a reassuring sign for strategic development. 'Saudi investors are here as long-term partners, not merchants,' he said, adding that Saudi Arabia aims to lead international investment coalitions into Syria. Director General of the Syrian Investment Authority, Talal Al-Hilali, affirmed Syria's intent to work hand-in-hand with Saudi Arabia to ensure investor confidence, saying the top priority now is to protect investors and provide business certainty. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
L'Orient-Le Jour
4 days ago
- Business
- L'Orient-Le Jour
Syria plans to rehabilitate airports to accommodate tens of millions of passengers
The president of the Syrian Civil Aviation Authority, Omar al-Houssary, said Thursday in a statement that the country needed to rehabilitate its five airports, which have deteriorated due to years of war and financial difficulties, mainly linked to sanctions targeting the regime of Bashar al-Assad, which fell on Dec. 8. Houssary, appointed Wednesday by the new government formed by the Islamist coalition leading Syria, added that the country "plans to build a new airport in Damascus that can accommodate 30 million passengers, alongside the rehabilitation of the current airport." The rehabilitation of Aleppo airport is also a priority, as is the "conversion of Mezzeh military airport into a civilian airport," also in the Damascus region, he said. The statements from the aviation authority president were made on the sidelines of the Syrian-Saudi Investment Forum 2025, launched this week in Damascus with large participation from both sides. The forum saw the signing of a cooperation agreement between the Saudi Airports Holding Company and the Syrian Civil Aviation Authority, which saw the direct entry of Saudi Arabia into development projects in the Syrian aviation sector. The Syrian capital welcomed a Saudi delegation Wednesday, including more than 100 private sector companies and 20 government entities, according to a statement from the Saudi Investment Ministry, which said that the forum marks "the start of a new era of investment between the kingdom and Syria." During this investment forum held at the 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 (about $6.4 billion)."
Saudi Gazette
4 days ago
- Business
- Saudi Gazette
Syria adopts Saudi investment protection agreement to attract investors
Saudi Gazette report DAMASCUS — Syria has formally adopted a Saudi-developed agreement for the protection of foreign investors, laying the foundation for future investments flowing into the country. The move marks a key milestone in Syria's efforts to rebuild its economy with support from Saudi expertise, which has driven transformative growth in multiple sectors in recent years. The announcement was made during a ministerial session of the Syrian-Saudi Investment Forum 2025, held Thursday with the participation of senior ministers and officials from both countries. Saudi Minister of Investment Eng. Khalid Al-Falih said Syria was entering a new phase with strong appetite for investment and discovery of opportunities. 'We are confident that Syrians will revive their country's economy. Transparency and investor guarantees are essential and encouraging,' he said. 'What we're witnessing today will spark a wave of projects in Damascus.' Syria's Minister of Economy, Mohammad Al-Shaar, emphasized that the country had waited decades for this moment to initiate a genuine economic partnership with Saudi Arabia. 'We were deprived of this relationship for 60 years due to personal interests on the Syrian side,' he said, praising Saudi Arabia's model of economic transformation as one to emulate. Al-Shaar explained that every investment project passes through three phases: opportunity exploration, investor consultation, and a final decision leading to execution. He confirmed that Syria would secure the investment environment through a combination of constitutional guarantees, investment laws, and the adoption of the Saudi-developed foreign investment protection framework. Tourism Minister Mazen Al-Salehani announced the preparation of new four- and five-star resorts and hotels, alongside the launch of a revamped ministry website to facilitate investor engagement. He highlighted Syria's vast archaeological and heritage sites, and the growing interest in "return tourism" — a term for Syrians abroad returning to reassess past assets and reinvest. He also emphasized community inclusion in new tourism projects: 'Every investment will involve the local population in building the future.' Saudi-Syrian Business Council Chairman Mohammed Abunayyan underscored the Kingdom's efforts to form global alliances to invest in Syria. He praised Syrian President Ahmad Al-Sharaa's comprehensive economic vision and called it a reassuring sign for strategic development. 'Saudi investors are here as long-term partners, not merchants,' he said, adding that Saudi Arabia aims to lead international investment coalitions into Syria. Director General of the Syrian Investment Authority, Talal Al-Hilali, affirmed Syria's intent to work hand-in-hand with Saudi Arabia to ensure investor confidence, saying the top priority now is to protect investors and provide business certainty.
Saudi Gazette
6 days ago
- Business
- Saudi Gazette
Saudi Arabia and Syria to hold investment forum in Damascus to boost cooperation
Saudi Gazette report RIYADH — Saudi Arabia is moving forward with plans to deepen its bilateral ties with Syria through the launch of the Syrian-Saudi Investment Forum 2025, the Ministry of Investment announced on Tuesday. The initiative reflects the Kingdom's continued commitment to supporting Syria and contributing to its stability and prosperity. The forum aims to build on the historic ties and shared heritage between the two nations and strengthen economic cooperation in line with Saudi Arabia's strategic vision of regional integration and mutual benefit. Acting on the directives of Crown Prince Mohammed bin Salman, the Ministry of Investment has launched efforts to activate the role of the private sector in both countries by facilitating cross-border partnerships.
