04-06-2025
Saudi Arabia, Syria Explore Investment Cooperation
Saudi Arabia and Syria have explored avenues for investment cooperation in both countries, reported the Saudi Press Agency (SPA).
On Wednesday, the Saudi Minister of Investment, Khalid Al-Falih, held a virtual meeting with the Syrian Minister of Economy and Industry, Mohammad Nidal al-Shaar, to discuss avenues for joint investment cooperation and explore the promising economic opportunities in the Syrian market.
During the meeting, the two ministers discussed potential areas for public-private partnership and ways to strengthen targeted investments in the productive and service sectors, with the aim of supporting economic development and opening new channels for integration between Saudi Arabia and Syria.
On his part, Al-Falih emphasized the importance of fostering an enabling environment for expanding regional investment partnerships.
He also reaffirmed Saudi Arabia's commitment to supporting the stability and growth of Syria's economy in a way that benefits the mutual interests of both countries and promotes regional economic prosperity.
Most recently, the Saudi Foreign Minister, Prince Faisal bin Farhan, headed a high-level economic delegation to Syria, where he met with the Syrian Transitional President, Ahmed Al-Sharaa, in Damascus.
They discussed avenues for joint cooperation aimed at supporting Syria's economy, enhancing the development of its governmental institutions, and fulfilling the aspirations of the Syrian people.
The discussions yielded in the announcement of a Saudi-Qatari joint financial support package for Syrian public sector employees for three months.
'This support aims to contribute to economic and social stability, improve living conditions, and reinforce development efforts in Syria,' Saudi Arabia and Qatar said in a joint statement.
In April 2025, Saudi Arabia and Qatar had committed to settling Syria's outstanding arrears to the World Bank Group, which is around $15 million, in order to support and accelerate the recovery of Syria's economy.
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