Saudi Arabia Signs $6 Billion of Reconstruction Deals in Syria

Saudi Investment Minister Khalid bin Abdulaziz Al-Falih led a delegation of about 130 Saudi executives to Damascus on Wednesday for a Syrian-Saudi Investment Forum. Officials from both countries said the visit yielded 44 agreements valued at roughly $6 billion, targeting projects in energy, infrastructure, hospitality and airports as Syria seeks to rebuild after 14 years of war. Syrian Information Minister Hamza al-Mustafa told reporters the package could generate 50,000 direct jobs and signalled that Damascus is revising investment legislation to draw additional foreign capital. The deals represent the largest infusion of external financing since interim President Ahmed al-Sharaa replaced Bashar al-Assad in December. The accord deepens Riyadh’s economic and political support for the new Syrian government, following the lifting of U.S. sanctions earlier this year and the Gulf states’ move to settle Syria’s World Bank arrears. While investors eye reconstruction opportunities, recent sectarian clashes in Sweida underscore the security risks that still shadow the country’s recovery.