Saudi Arabia’s Minister of Investment Khalid Al-Falih has led a high-level delegation from the public and private sectors in the Kingdom, marking the signing of a series of strategic contracts between leading Saudi companies and Syrian government entities, during an official visit to Damascus.
In addition to the Minister of Investment, the Saudi Arabian delegation included Minister of Communications and Information Technology Abdullah Alswaha, President of the General Authority of Civil Aviation (GACA) Abdulaziz Al-Duailej, as well as representatives from Saudi ministries and companies.
The meeting underscored the importance of strengthening bilateral relations and enhancing economic and investment cooperation to serve mutual interests and advance sustainable development.
The visit witnessed the formal signing of several strategic contracts spanning the aviation, communications, and infrastructure sectors, marking a significant milestone in bilateral cooperation.
In addition, a series of high-level meetings were held to explore new investment opportunities, enhance collaboration, and strengthen partnerships across key industries. These engagements underscored a shared commitment to sustainable development, technological advancement, and long-term economic growth, while laying the groundwork for deeper strategic ties between the parties involved.
Saudi Arabian minister Khalid Al-Falih Al-Falih noted that the agreements mark a new phase in Saudi-Syrian economic cooperation, turning partnerships into action. The projects will enhance Syria’s infrastructure, create jobs, expand investment, and boost private-sector participation, reflecting the Kingdom’s commitment to shared stability and growth.
HE Eng. Khalid bin Abdulaziz Al-Falih Investment Minister- Saudi Arabia
“What we are witnessing today in economic relations between Saudi Arabia and Syria is the result of a long history of reciprocal visits and continuous engagement at both the governmental and private levels. These efforts have consolidated the foundations of partnership, built mutual trust, and paved the way for this pivotal moment in the history of economic relations.”
Saudi Arabia-Syria major investment deals
Aviation
One of the key agreements is the Aleppo Airport Project between the Syrian Civil Aviation Authority and a Saudi consortium led by BinDawood Holding Group. Marking the Elaf Fund’s first investment, it will develop the new Aleppo International Airport, upgrade the existing facilities, and finance an integrated navigation radar system for Syrian airspace. In aviation, another agreement was signed to launch a Saudi-Syrian airline with Flynas, covering both commercial and cargo services.
Telecommunications
A Telecommunications Infrastructure Agreement was signed between the Syrian Ministry of Communications and Information Technology and the Saudi Telecom Company (stc). The agreement aims to upgrade Syria’s infrastructure through fiber-optic expansion and data-center development, enhance internet services, and position Syria as a regional hub for data transmission and international connectivity.
Image credits: SPA | Cropped by GBN
Water
In the water sector, the Syrian Ministry of Energy signed an agreement with Saudi Arabian companies ACWA Power and Water Transmission Company. The agreement provides for conducting economic, technical, and financial studies and identifying solutions for a seawater desalination project with an estimated capacity of 1.2 million cubic meters per day, along with associated water transport facilities.
Industry
In the industry, the Syrian Sovereign Fund and Riyadh Cables Group signed an agreement to operate and develop the Syrian Modern Cables Company. The agreement focuses on modernizing factories, localizing technical expertise, and building capacity in the energy and electrical cable sectors.
Another agreement was signed to develop the a national platform for vocational, technical, and technological training and rehabilitation. The agreement was signed between the Syrian Ministry of Economy and Industry and the e-learning and training company Semanoor. It aims to strengthen training systems and enhance workforce readiness to meet labor-market needs.
Image credits: SPA | Cropped by GBN
Saudi-Syrian Business Council
A framework agreement was also signed between the charity and development committee of the Saudi-Syrian Business Council and the Syrian Development Fund. The visit began with the Saudi Arabian delegation opening the Saudi-Syrian Business Council meeting. The Syrian Ministry of Economy and Industry also announced the formation of the Syrian representation to the council, including its executive and private-sector coordination structure.
The visitconcluded with a reaffirmation of ongoing efforts to expand sectoral opportunities, improve the investment climate, and strengthen the strategic partnership between Saudi Arabia and Syria.
