Syria has recently signed several large investment agreements with regional and international partners.
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Web Desk
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Syria and Saudi Arabia signed several agreements covering aviation, telecommunications, and development projects as Syria continues efforts to rebuild after years of conflict.
Officials said the agreements include plans to launch a joint low-cost Syrian-Saudi airline aimed at improving regional and international air connections. The deals also involve building a new international airport in Aleppo and redeveloping the existing airport facilities in the city.
Syrian Investment Authority chief Talal al-Hilali said the agreements also include a project called SilkLink, which focuses on improving Syria’s telecommunications infrastructure and digital connectivity.
Syrian Telecommunications Minister Abdulsalam Haykal stated that the project would be carried out with an investment of around one billion dollars.
Syria had struggled to attract major foreign investment for decades due to sanctions imposed during the rule of former president Bashar al-Assad, but the removal of remaining US sanctions late last year opened the door for renewed international investment.
Both countries also signed agreements related to water desalination and broader development cooperation. Saudi Investment Minister Khalid Al-Falih announced the creation of an investment fund for major projects in Syria with participation from the Saudi private sector, describing the agreements as part of building a strategic partnership between the two nations.
Syrian officials said the deals focus on key sectors that directly affect people’s lives and are essential for rebuilding the country’s economy. Syria has recently signed several large investment agreements with regional and international partners as part of its wider reconstruction efforts.
