The Federation of Saudi Chambers, represented by the Saudi-Syrian Business Council, organized on Sunday in Riyadh the first Saudi-Syrian Partnership and Investment Forum of its kind at the private sector level, with the participation of 450 government officials and Saudi and Syrian investors.
The forum outlined the features and investment opportunities between the Kingdom and Syria across 12 promising economic sectors. It announced several recommendations and practical initiatives to develop economic relations between the two countries, the Saudi Press Agency reported Monday.
In his speech, Saudi-Syrian Business Council Chairman Mohammed Abunayyan said that Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, and Syrian President Ahmed al-Sharaa have laid a solid foundation for economic partnership between the two countries. He emphasized that the relationship will not be about deals or seizing opportunities, but a comprehensive partnership through cooperation between Saudi and Syrian investors.
In his speech, CEO of the Saudi Investment Promotion Authority (SIPA) Khaled Al-Khattaf stressed that the Saudi-Syrian Partnership and Investment Forum builds on previous meetings between the two sides and represents an important step to strengthen economic and investment cooperation between the Kingdom and Syria.
He indicated that signing the agreement on the protection and promotion of mutual investments marks a qualitative leap in the trajectory of joint investment relations. Al-Khattaf also noted that Syria is preparing for a new phase of reconstruction, opening vast opportunities for investors across various sectors.
He pointed out that Syrian investments in the Kingdom reached SAR8.4 billion in 2023, up 13% from the previous year, while the number of investment licenses granted to Syrians in 2024 reached about 3,225 active licenses, an increase of 146% compared to 2023.
Syrian companies operating in the Saudi market have employed over 61,000 people, including 14,000 Saudis, Al-Khattaf said.
Meanwhile, Deputy Governor of the General Authority of Foreign Trade (GAFT) for International Relations Abdulaziz Alsakran highlighted that the Kingdom and Syria share close historical and fraternal ties.
He noted that the forum aims to strengthen trade and investment partnerships between the two countries, contributing to advancing bilateral relations, supporting Syria's reconstruction, and promoting its economic development.
Moreover, he noted that trade volume between the Kingdom and Syria grew significantly in the first half of this year, reaching around SAR900 million during the first five months, an 80% increase compared to the same period in 2024. It is expected to exceed SAR2 billion by year-end, marking the highest trade level between the two countries in 13 years, Alsakran said.
Figures indicate notable growth in bilateral investments. Between 2003 and 2015, Saudi presence in Syria included eight companies, 11 projects, and investments worth SAR1.7 billion.
In 2025, the number of investment agreements has risen to 47, with an estimated value of SAR24 billion. On the other hand, Syrian investments in the Kingdom stood at SAR367 million in 2015, increasing to SAR8.4 billion in 2024.
