Saudi Arabia and Syria have recently signed an investment promotion and protection agreement aimed at establishing practical frameworks to strengthen joint investments and develop strategic projects in industry, services, infrastructure and tourism.
The agreement was signed during the Saudi-Syrian Roundtable Meeting, held on Monday, with the participation of Minister of Investment Khalid Al-Falih, Syria’s Minister of Economy and Industry Dr. Mohammad Nidal Al-Shaar, and representatives from the private sector and companies from both sides.
The Saudi-Syrian Roundtable Meeting took place within the framework of an official visit that reflects the two brotherly countries’ keenness to build bridges of economic cooperation and strengthen regional integration.
The roundtable addressed avenues of cooperation and opportunities for economic and investment partnerships in priority sectors, focusing on empowering the private sector in both countries, facilitating investment flows and exchanging technical and knowledge expertise to support investment development and investor empowerment.
Saudi Arabia and Syria seek stronger investment relations
Minister Al-Falih said that the agreement reflects the Kingdom’s commitment to building effective economic partnerships with brotherly countries, strengthening its role as a global investment hub and opening new horizons for investors to explore quality opportunities that contribute to creating added value.
Meanwhile, Syria’s economy and industry minister stressed that his country values Saudi Arabia’s pivotal role in supporting regional economic cooperation, noting that the agreement represents a practical step toward deepening investment relations and a qualitative shift toward projects that achieve mutual benefit and strengthen economic ties between the two brotherly peoples.
The investment promotion and protection agreement aims to expand the scope of bilateral cooperation, attract quality investments in vital sectors, and create an enabling business environment that meets the aspirations of the private sector in both Saudi Arabia and Syria.
The meeting and signing were attended by senior government officials and representatives of the private sector from both sides, reflecting the shared desire to build strategic partnerships that support economic security and stability in the region.
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Joint technical working groups to advance industrial integration
During the Syrian delegation’s visit to Riyadh, Minister of Industry and Mineral Resources Bandar Alkhorayef met with Syrian Minister of Economy and Industry Dr. Mohammad Nidal Al-Shaar at the ministry’s headquarters.
The two ministers discussed ways to enhance cooperation in the industrial sector and explored potential paths for industrial integration between Syria and Saudi Arabia. They also reviewed available opportunities for developing joint investments and exchanging expertise.
Alkhorayef highlighted the strength of Saudi-Syrian relations and the leadership’s keenness to expand cooperation across various sectors, particularly industry and mining, while encouraging mutual investment. He praised the outcomes of the Saudi-Syrian Investment Forum held last month in Damascus, where several agreements were signed in vital sectors, including industry and mining.
He also expressed optimism that the industrial sector would play a pivotal role in Syria’s economic recovery, aligning with the objectives of the Kingdom’s National Industrial Strategy and broader regional integration plans.
The minister also invited his Syrian counterpart to attend the 21st General Conference of the United Nations Industrial Development Organization (UNIDO), to be hosted by Riyadh in November.
For his part, Al-Shaar underscored the importance of building stronger industrial and investment partnerships with Saudi Arabia, noting Syria’s interest in benefiting from the Kingdom’s advanced industrial expertise. He emphasized that the country’s reconstruction phase provides significant opportunities for Saudi private sector investments, especially in industry. Both parties agreed to form joint technical working groups to advance industrial integration initiatives between the two countries.
