Riyadh and Damascus are moving toward the establishment of a joint Saudi–Syrian investment fund, designed to serve as a central platform for structured, well-governed projects that meet the development needs of both nations.
The initiative, proposed by the private sector, aims to accelerate sustainable investment growth and generate exceptional results with financing volumes capable of meeting demand.
The announcement came from Saudi Minister of Investment Khalid Al-Falih during a roundtable meeting in Riyadh on Monday, attended by Syrian Minister of Economy and Industry Mohammed Nidal Al-Shaar along with a number of Saudi and Syrian business leaders.
The meeting also witnessed the signing of a bilateral Investment Promotion and Protection Agreement.
The development followed a high-level Saudi delegation’s visit to Damascus on July 24, led by Al-Falih, which resulted in 47 agreements and memoranda of understanding worth SAR 24 billion ($6.4 billion).
Al-Falih revealed that Saudi Arabia’s stock exchange, Tadawul, has begun preparations for a feasibility study on creating and operating a Damascus stock market.
“What has been announced so far is only the beginning,” he said. “More investment waves will follow, thanks to Syria’s pragmatic policies. Our goal is to provide an attractive investment environment built on transparency, fairness, and equity.”
The Saudi and Syrian governments, Al-Falih stressed, are working to ensure a safe and sustainable climate that encourages cross-border investments and builds confidence among stakeholders in both countries.
The minister recalled that the July agreements spanned 11 sectors, forming an investment base of $6.4 billion. He described the partnership with the Syrian people as part of Saudi Arabia’s commitment to deep, sustainable cooperation that fosters growth and development opportunities in both economies.
During the roundtable, Al-Falih and Al-Shaar signed the Investment Promotion and Protection Agreement, which establishes legal and regulatory frameworks to safeguard capital flows, protect projects, and ease investment procedures. The pact targets vital sectors including industry, services, infrastructure, and tourism.
Al-Shaar hailed the agreement as a “qualitative leap” in Syrian-Saudi economic relations, opening new horizons for mutually beneficial cooperation and strengthening historic ties between the two nations. He emphasized Saudi Arabia’s role in supporting Syria’s economic recovery.
For his part, Al-Falih said the agreement fits within the Kingdom’s broader vision of strengthening economic partnerships with Arab states and creating promising investment opportunities.
“Signing this accord with Syria reflects a commitment to sustainable cooperation that supports regional stability and prosperity,” he noted.
Al-Shaar arrived in Riyadh on Sunday at the head of an official delegation to participate in the roundtable, aimed at boosting economic relations and trade exchanges as part of wider regional recovery and growth efforts.
