Fresh investments worth $6.4 billion in Syria announced by Saudi Arabia
In a significant move towards rebuilding Syria following years of civil war, Saudi Arabia has announced an investment package worth $6.4 billion. The investments, aimed at supporting Syria's post-war reconstruction and stabilizing the region, focus primarily on the real estate, infrastructure, and telecommunications sectors.
The telecommunications and IT sector, in particular, will receive approximately $1.07 billion. This investment will involve major Saudi and regional companies, including the Saudi Telecom Company (STC), GO Telecom, digital security firm Elm, cybersecurity company Cipher, and educational technology company Classera.
During a conference held in Damascus, a total of 47 agreements were signed, with participation from over 100 companies. This broad private sector engagement underscores Saudi Arabia’s strategic commitment to Syria’s reconstruction after 14 years of civil war. The event also marked the launch of a Saudi-Syrian Business Council aimed at fostering ongoing economic cooperation.
The investments have been strongly backed by Saudi Arabia’s Crown Prince Mohammed bin Salman, reflecting Riyadh’s strategic commitment to Syria. This move paves the way for new lending from the World Bank and marks a significant financial boost for interim President Ahmed al-Sharaa.
In a related development, Saudi Arabia and Qatar announced in April that they would settle Syria's World Bank arrears. Other companies, many from Gulf states and Türkiye, have expressed interest in rebuilding Syria's power generation capacity, roads, ports, and other damaged infrastructure. Syria has also signed a $7 billion power deal with Qatar and an $800 million agreement with UAE-based port company DP World in recent months.
Notably, Saudi Arabia has used its diplomatic influence to persuade U.S. President Donald Trump to lift sanctions, which could further facilitate these investments. The investment deals, unveiled by Saudi Investment Minister Khalid Al-Falih at a Damascus forum, include $2.93 billion for real estate and infrastructure projects.
These investments span sectors critical to rebuilding Syria’s economic framework, with telecommunications and information technology playing a crucial role in modernizing infrastructure and services. The Business Council was originally scheduled for June but was delayed due to the conflict between Iran and Israel. However, with these investments now in place, it seems that the council is set to play a pivotal role in fostering ongoing economic cooperation between Saudi Arabia and Syria.
- The investment package announced by Saudi Arabia worth $6.4 billion is focused on supporting Syria's post-war reconstruction and stabilizing the region, with a significant portion going towards the technology sector.
- Major Saudi and regional companies, such as the Saudi Telecom Company (STC), GO Telecom, digital security firm Elm, cybersecurity company Cipher, and educational technology company Classera, will be involved in the telecommunications and IT sector investments.
- At a conference in Damascus, 47 agreements were signed, with participation from over 100 companies, underscoring Saudi Arabia’s strategic commitment to Syria’s reconstruction after 14 years of civil war.
- This move has been strongly backed by Saudi Arabia’s Crown Prince Mohammed bin Salman, reflecting Riyadh’s strategic commitment to Syria, and has paved the way for new lending from the World Bank.
- In addition to Saudi Arabia, Qatar has also announced it would settle Syria's World Bank arrears, and other companies have expressed interest in rebuilding Syria's damaged infrastructure, including power generation, roads, ports, and other facilities.
- The Business Council aimed at fostering ongoing economic cooperation between Saudi Arabia and Syria has been delayed due to the conflict between Iran and Israel, but with the investments now in place, it seems that the council is set to play a pivotal role in rebuilding Syria’s economic framework.
- These investments will not only help in modernizing Syria's infrastructure and services but will also have a broader impact on the world, particularly in areas of finance, cybersecurity, policy-and-legislation, politics, general-news, data-and-cloud-computing, and real-estate industries.
