Syria to sign 44 agreements worth nearly $6 billion with Saudi Arabia

Syrian Information Minister Hamza al-Mustafa announced on Wednesday that Syria is set to sign 44 agreements with Saudi Arabia, with a total estimated value of around $6 billion.

His remarks came during a press conference held on the sidelines of the Syrian-Saudi Investment Forum in Damascus. The event is being attended by a high-level Saudi business delegation.

Al-Mustafa said the agreements signed at the forum are expected to create 50,000 jobs.

Earlier on Wednesday, a senior Saudi delegation led by Investment Minister Khalid bin Abdulaziz al-Falih arrived in Damascus to take part in the Syrian-Saudi Investment Forum, which was launched under the direction of Crown Prince Mohammed bin Salman as part of efforts to help Syria rebuild.

According to the Syrian state news agency, the delegation includes over 130 Saudi businessmen and investors.

The forum aims to explore joint cooperation opportunities and discuss the signing of strategic agreements that support sustainable development and strengthen mutual economic interests between Saudi Arabia and Syria – a move that could mark a significant turning point in their bilateral relations.

Speaking to Al Arabiya, Saudi Investment Minister al-Falih said Riyadh sees long-term potential in Syria and is committed to investing through its capital and major companies. He described Syria’s investment climate as “very attractive” and emphasized the Kingdom’s desire to play an active role in the country’s reconstruction and development phase.

Al-Falih added that some Saudi companies have already begun building factories inside Syria, and that a large number of new investment projects will be announced on Thursday, reflecting the Kingdom’s commitment to supporting Syria’s economic recovery.

He highlighted Syria’s human capital, natural resources, and strategic location, and noted that the Syrian government is increasingly relying on the private sector to drive reconstruction, opening up major opportunities for Saudi investors.

Al-Falih also stressed that Crown Prince Mohammed bin Salman is personally invested in supporting Syria’s path to rebuilding and prosperity. This initiative, he said, is part of Saudi Arabia’s broader vision to promote regional stability through economic cooperation and shared development.