Saudi Arabia and Syria signed $24 billion in investment deals across 12 sectors during their first joint forum in Riyadh/Image: SPA
In a significant step toward rebuilding diplomatic and economic bridges, Saudi Arabia and Syria have launched their first private-sector-led investment forum. Held in Riyadh, the Saudi-Syrian Partnership and Investment Forum brought together over 450 government officials and business leaders from both countries to explore long-term economic collaboration across a dozen key sectors. With the announcement of SAR24 billion worth of new investment agreements, this marks a turning point in bilateral relations not seen in over a decade.
Forum signals new economic chapter
Organized by the Federation of Saudi Chambers and the Saudi-Syrian Business Council, the Riyadh forum marked the first initiative of its kind between the two nations at the private sector level. The event showcased investment opportunities across 12 economic sectors, aiming to foster partnerships that go beyond transactional deals and toward a comprehensive, strategic alliance.Mohammed Abunayyan, Chairman of the Saudi-Syrian Business Council, emphasized the long-term vision behind this renewed partnership. He credited the leadership of Saudi Crown Prince Mohammed bin Salman and Syrian President Ahmed al-Sharaa for laying a solid foundation for economic collaboration.Abunayyan underscored that this initiative is not just about capital and contracts, but about sustained cooperation between Saudi and Syrian investors, positioning the partnership as a core driver of regional economic stability.
Investments, licensing, and sectoral growth
Khaled Al-Khattaf, CEO of the Saudi Investment Promotion Authority (SIPA), described the forum as a continuation of prior bilateral engagements. He announced that a new agreement focused on the protection and promotion of mutual investments has been signed, calling it a “qualitative leap” in Saudi-Syrian investment ties.Al-Khattaf also highlighted that Syria is entering a critical phase of reconstruction, presenting vast opportunities for foreign and regional investors. He shared the following key figures:
- Syrian investments in Saudi Arabia reached SAR8.4 billion in 2023, representing a 13% year-on-year increase.
- In 2024, Syrians received 3,225 active investment licenses, a 146% increase over the previous year.
- Syrian companies in the Kingdom have employed more than 61,000 people, including 14,000 Saudi nationals.
On the reverse front, Saudi investments in Syria, once limited, have surged significantly. From eight companies and 11 projects worth SAR1.7 billion between 2003 and 2015, the partnership has grown to 47 investment agreements in 2025, with a combined value of SAR24 billion.
Trade volumes and strategic outlook
Representing the General Authority of Foreign Trade (GAFT), Abdulaziz Al-Sakran, Deputy Governor for International Relations, drew attention to the deep historical and cultural ties between the two countries, framing the forum as part of a broader political and economic rapprochement.Al-Sakran confirmed that trade between Saudi Arabia and Syria surged by 80% in the first five months of 2025, reaching SAR900 million. He projected that the total trade volume will surpass SAR2 billion by the end of the year, making it the highest level of trade between the two nations in 13 years.He added that this revival in economic relations aligns with the Kingdom’s support for Syria’s reconstruction and long-term development goals. Go to Source
