Saudi Arabia is expected to sign trade deals worth more than SAR15 billion ($4 billion) at the Syrian-Saudi Investment Forum 2025 taking place on Wednesday in Damascus, according to Saudi state-run television Al Ekhbariya.
A Saudi delegation of more than 130 businessmen and investors, led by Saudi Investment Minister Khalid Al-Falih, arrived at Damascus International Airport earlier today to discuss opportunities for joint cooperation and sign agreements that contribute to promoting sustainable development and economic interests between Syria and Saudi Arabia, Syrian news agency SANA reported.
The visit will also include the launch of the Fayhaa White Cement Factory project in the Adra Industrial City in the Damascus countryside, which will support the cement sector and expand the production base to support the upcoming reconstruction phase in the country, the news agency said.
Supporting Syria’s recovery
Saudi Arabia’s visit to Syria is expected to conclude with the announcement of several deals and joint projects, in addition to the signing of memoranda of understanding between the two sides in various fields. On Tuesday, the Saudi Ministry of Investment announced that it was arranging a working visit to Syria, in coordination with the Federation of Saudi Chambers, with the participation of a large delegation of representatives from the public and private sectors.
The visit aims to facilitate the exploration of investment opportunities and remove obstacles facing businesspeople and investors, serving the shared interests of the two brotherly countries.
Saudi Arabia and Syria have recently been working in enhancing diplomatic and economic ties. Notably, Saudi Arabia reopened its embassy in Damascus last year following a 12-year closure. Further supporting the Arab nation’s reconstruction and recovery, the Kingdom and Qatar announced in April that they will settle Syria’s $15 million debt to the World Bank.
Saudi Arabia has also started issuing travel permits for Saudi and Syrian businesspeople with the goal of ramping up private‑sector investment and helping rebuild Syria’s economy. The Saudi embassy in Damascus said on Tuesday that an online portal is now live for investors from both countries to obtain entry licenses.
For its part, Syria announced this month that it has amended its investment law to support the flow of investments to the country.
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GCC nations raise investments in Syria
In addition to Saudi Arabia’s major initiatives in supporting Syria, several GCC nations have announced major investments to help rebuild the nation’s vital sectors. In late May, a $7 billion investment was announced to shape a new future for the energy sector in Syria, led by Qatar’s UCC Holding as part of an international consortium that brings together top-tier global players and pioneers in the energy sector.
UCC said in a statement that the project includes four natural gas power plants and one solar power plant, with a total capacity of up to 5,000 megawatts. It aims to address the electricity deficit, supply energy to vital sectors and create thousands of jobs across various sectors.
The four combined-cycle gas turbine power plants will have a total capacity of 4,000 megawatts, while the solar power plant in southern Syria will have an initial capacity of 1,000 megawatts.
In addition, the UAE’s DP World has signed a 30-year concession agreement with Syria’s General Authority for Land and Sea Ports to develop and operate the Port of Tartus. As part of this agreement, DP World will invest $800 million over the duration of the concession to enhance the port’s infrastructure and establish it as a vital regional trade hub connecting Southern Europe, the Middle East, and North Africa.
