Azernews.Az

By Alimat Aliyeva

The Syrian-Saudi Investment Forum officially opened in Damascus on Thursday, July 24, with expectations that billions of dollars in contracts will be signed throughout the event, Azernews reports.

A high-ranking Saudi delegation, led by Minister of Investment Khalid al-Falih, arrived in Damascus on Wednesday to take part in the forum. The event is part of a broader effort to support Syria's reconstruction under the leadership of Saudi Crown Prince Mohammed bin Salman.

In an interview with reporters, al-Falih revealed that 47 agreements and memoranda of understanding, totaling more than $6 billion, are set to be signed with Syrian officials during the forum.

At the opening ceremony, which was attended by Acting Syrian President Ahmed al-Sharaa, al-Falih emphasized that the visit reflects Saudi Arabia’s continued support for Syria. He added that the agreements are a significant step toward strengthening bilateral ties and facilitating long-term investments in the rebuilding of the war-torn country.

The forum also highlights the growing cooperation between the two nations, which had been strained in the past due to political differences. Now, with an eye on economic recovery and development, the event signals a new chapter in Syrian-Saudi relations, with major infrastructure, energy, and construction projects expected to be key areas of focus.

Additionally, experts suggest that this partnership could pave the way for greater regional integration, as Saudi Arabia seeks to increase its presence in Syria’s post-conflict economy and secure strategic investments in the Middle East.