In the presence of President Ahmad al-Sharaa, Syria and Saudi Arabia signed a series of strategic agreements on Saturday covering aviation, telecommunications, infrastructure, and real estate development aimed at boosting Syria’s recovery. The signing ceremony, held at the People’s Palace in Damascus, included five major projects.
Saudi Investment Support
Saudi Investment Minister Khalid al-Falih emphasized the Kingdom’s commitment to supporting Syria’s growth and stability. “Our presence in Damascus reflects a shared vision to build a common future between our two countries,” he said. Al-Falih also announced the launch of the Elaf Investment Fund, which will finance major projects in Syria, and noted that bank transfer channels between the two nations have been reactivated following the lifting of economic sanctions.
Key Sector Investments
Chairman of the Syrian Investment Authority, Talal al-Hilali, said the agreements cover vital sectors that directly affect citizens’ lives. They aim to enhance telecommunications infrastructure, develop digital connectivity systems, establish a Syrian-Saudi airline, and operate the Modern Syrian Cables Company.
Al-Hilali described the agreements as the start of a new phase of partnership “based on mutual trust and respect.”
A strategic project to modernize Syria’s telecommunications infrastructure, including the extension of fiber optic cables and the establishment of data centers, was also signed.
Syria and Saudi Arabia sign strategic economic agreements in Damascus to boost recovery
Syrian Minister of Telecommunications and Information Technology Abdulsalam Haykal highlighted the Silk Link project, which is expected to position Syria as a global connectivity hub. After a competitive process involving 18 companies, the Saudi telecom giant STC was selected as a partner, he said.
Seawater Desalination
In the energy sector, Syrian Minister Mohammed al-Bashir called the agreements a “pivotal step” in expanding bilateral cooperation. A memorandum of understanding and a joint development agreement were signed with ACWA Power and the Saudi Water Transmission Company, creating a roadmap for collaboration in the water sector.
Plans are underway to build a seawater desalination plant to supply fresh water from the Syrian coast to the country’s southern regions. Al-Bashir emphasized that the agreements leverage global expertise to ensure sustainable water infrastructure development.
Reviving Aviation investment
A project was signed to develop and operate Aleppo International Airport and establish a national low-cost carrier, Nas Syria Airlines, to handle commercial and cargo flights. Syrian Civil Aviation Chairman Omar al-Hosari said the agreements mark a milestone in rebuilding Syria’s aviation sector and will reintegrate the country into regional and international networks.
Saudi Civil Aviation Chairman Abdulaziz Al-Duailej highlighted Syria’s accession to the Middle East Cooperative Aviation Security Program, based in Saudi Arabia, and reaffirmed the Kingdom’s commitment to supporting Syria’s civil aviation capabilities.
A framework cooperation agreement was also signed to launch 45 development initiatives between the Syrian Development Fund and the Saudi Development Committee.
The agreements, covering multiple sectors, are seen as a major step toward reviving Syria’s economy, enhancing regional connectivity, and attracting foreign investment after years of war.
SANA
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