Latest news with #travelpermits
Asharq Al-Awsat
23-07-2025
- Business
- Asharq Al-Awsat
Riyadh, Damascus Build Economic Bridge with Private Sector Boost
Saudi Arabia has begun issuing fast‑track travel permits for Saudi and Syrian businesspeople, a move officials say is designed to jump‑start private‑sector investment and help rebuild Syria's war‑scarred economy. The Saudi embassy in Damascus said on Tuesday that an online portal is now live for entrepreneurs and investors from both countries to obtain entry licenses, enabling reciprocal visits and on‑the‑ground due diligence. The step follows months of high‑level Saudi diplomacy that culminated in US president Donald Trump announcing the lifting of US sanctions on Syria during a visit to Riyadh earlier this year. According to Saudi officials, Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, pressed the case for easing restrictions. 'Riyadh's practical measures to support Syria are speeding up,' Fadl al‑Buainain, a member of Saudi Arabia's Shura Council, told Asharq al‑Awsat. 'Opening the door for business travel lets investors scout opportunities, restore long‑severed ties and push economic activity on solid, development‑focused foundations backed by the state.' Al‑Buainain said Damascus' pledge to pursue free‑market reforms, including privatizing state firms, would create openings for Saudi companies, particularly in energy, water, tourism and airport projects. Economist Ahmed al‑Jubeir said the permits 'signal Saudi facilitation for investors eager to enter the Syrian market' and could boost bilateral trade and deliver 'new, high‑quality projects.' Saudi officials frame the initiative as part of a broader strategy that weds political outreach to economic leverage. A Saudi foreign‑minister‑led delegation visited Damascus earlier this year, followed by a private mission of Saudi financiers. 'Economic recovery is the launch‑pad for comprehensive development,' al‑Buainain said, arguing that growth would shore up national unity and regional security. He urged Damascus to keep overhauling investment rules to give the private sector 'legal safety and clarity'. The embassy announcement comes days after Syrian President Ahmed al‑Sharaa received a Saudi business delegation led by Mohammed Abunayyan and Sulaiman al‑Muhaidib at the presidential palace in Damascus, where the two sides explored joint ventures across multiple sectors. Analysts say Riyadh views economic engagement as a key plank of its Vision 2030 agenda to stabilize the Middle East through development. With Gulf interest in Syria rising, al‑Jubeir said opening travel channels was 'not just procedural— it's an economic pivot that underlines how Vision 2030 links regional stability to inclusive, sustainable growth.'
Zawya
22-07-2025
- Business
- Zawya
Saudi Arabia allows special travel permits for business visits to Syria
RIYADH — The Saudi Embassy in Damascus has announced the introduction of special travel permits for businesspeople and investors from both Saudi Arabia and Syria, paving the way for renewed economic engagement and investment exploration between the two countries. The move marks a notable shift in bilateral economic relations, following Saudi Arabia's 2015 decision to ban travel to Syria due to deteriorating security and political conditions at the time. This latest development coincides with the visit of a Saudi business delegation to Syria over the past two days, where they met with Syrian President Ahmad Al-Shar' and other senior officials. The permits are expected to facilitate broader investment cooperation amid warming diplomatic ties and the ongoing normalization of official relations between Riyadh and Damascus. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Arab News
22-07-2025
- Business
- Arab News
Saudi Arabia opens business travel channel with Syria to boost investment
RIYADH: Saudi Arabia will introduce travel permits for businessmen and investors from Syria to deepen bilateral relations and facilitate mutual visits. Syrian businessmen can now apply for travel licenses directly at the embassy in Damascus, the Kingdom's embassy said in an official post on X. Meanwhile, Saudi investors seeking to visit Syria can register via the Interior Ministry's e-platform. Saudi Arabia and Syria have made significant strides in restoring diplomatic ties, with the Kingdom reopening its embassy in Damascus in 2024 after a 12-year hiatus. In April, Saudi Arabia and Qatar announced a joint initiative to settle Syria's $15 million debt to the World Bank as part of broader efforts to support the financial recovery of the war-torn nation. 'The embassy announces the availability of travel permits for interested Saudi and Syrian businessmen and investors, enabling them to exchange visits and explore investment opportunities in the two brotherly countries,' the statement said. The Kingdom's Ministry of Investment announced that it will organize a Saudi-Syria Investment Forum in Damascus to explore cooperation opportunities to promote sustainable development in the two countries. In an X post, the ministry said the forum is expected to witness significant participation from public and private sector entities on both sides. In June, Saudi Minister of Investment Khalid Al-Falih held a virtual meeting with his Syrian counterpart, Mohammad Al-Shaar, to explore investment partnerships and discuss opportunities for collaboration across public and private sectors. Al-Falih affirmed the Kingdom's commitment to helping stabilize and develop the Syrian economy, adding that stronger ties would serve the mutual interests of both countries and promote regional economic prosperity. Further aiding Syria's economic recovery, US President Donald Trump signed an executive order in June to dismantle sanctions against the country. Following the announcement, Syrian Minister of Foreign Affairs and Expatriates Asaad Hassan Al-Shaibani posted on X that the decision by the US administration would support Syria's economic revival and reintroduce the country to the global community.
