DAMASCUS: A high-profile Saudi investment delegation of 120 business leaders arrived in Syria on Wednesday for a major economic forum aimed at securing reconstruction deals worth 15 billion riyals ($4 billion). The visit marks a significant step in Gulf efforts to stabilise Syria after its 14-year civil war.
Saudi Investment Minister Khalid Al-Falih is leading the group, state broadcaster Al-Ekhbariya reported. The ministry stated the forum seeks to “explore cooperation opportunities and sign agreements that enhance sustainable development and serve the interests of the two brotherly peoples.”
The oil-rich kingdom has emerged as a key supporter of Syria’s post-Assad government, formed after Islamist-led rebels ousted longtime ruler Bashar al-Assad in December. Saudi Arabia and Qatar previously committed to settling Syria’s $15 million World Bank debt.
The investment push follows the US lifting most Syria sanctions in May, with President Donald Trump fully dismantling remaining restrictions this month. Trump’s move aligns with Gulf states’ strategy to reintegrate Syria into global markets.
However, Damascus faces ongoing instability. Recent clashes between Druze fighters and Sunni tribes in Sweida province escalated into Israeli airstrikes, killing over 1,300 people according to monitors. – AFP
