Saudi Arabia and Syria have signed a bilateral investment promotion and protection agreement on the sidelines of a roundtable meeting in Riyadh.
Saudi Minister of Investment Khalid Al‑Falih and Syrian Minister of Economy and Industry Dr Mohammad Nidal Al‑Shaar led the discussions, joined by representatives of both countries’ private sectors.
Investment protection deal
The agreement commits both governments to provide legal protection for investors, ensure secure capital flow and promote cooperation across industry, services, infrastructure and tourism sectors.
Al‑Falih reaffirmed Saudi support for a private‑sector–backed “fund of funds” structure to channel investments into Syria and mentioned Saudi support for a feasibility study on establishing a Damascus stock exchange.
Earlier investment momentum was generated at the Syrian‑Saudi Investment Forum in Damascus in July, where more than 100 Saudi firms and 20 Saudi government entities signed 47 investment agreements valued at SAR 24 billion (approximately $6.4 billion) across sectors including real estate, infrastructure, energy, telecoms and industry.
These July agreements are expected to yield an estimated 50,000 direct jobs and up to 150,000 indirect jobs.
The investment push aligns with Saudi Arabia’s Vision 2030 objective to expand international investment and support regional economic development. It follows normalisation steps, such as reopening embassies and lifting World Bank arrears, that have eased diplomatic and financial barriers to engagement with Syria.
