From the Liveblog of
Thursday, July 24, 2025
Saudi Arabia announces $6.4 billion in Syria investments as war-torn country looks to rebuild
Add ToI as a Preferred Source on GoogleSaudi Arabia announces $6.4 billion of investments in Syria, reflecting the kingdom’s deepening ties with interim President Ahmed al-Sharaa’s government as it seeks to rebuild Syria after a 14-year civil war.
The deals, unveiled by Saudi Investment Minister Khalid Al-Falih at a Damascus forum, are a major financial boost for Sharaa as he struggles to establish control over Syria, which was rocked this month by sectarian violence in the southwest.
Al-Falih says his visit to Syria was ordered by Saudi Arabia’s Crown Prince and de-facto ruler Mohammed bin Salman, calling the trip “confirmation of the kingdom’s firm and supportive stance towards sisterly Syria.”
The investment deals included $2.93 billion for real estate and infrastructure projects and about $1.07 billion for the telecommunications and information technology sector, Al-Falih says.
He says 47 agreements will be signed over the course of the conference, with more than 100 companies participating.
Al-Falih also announces the establishment of a Saudi-Syrian Business Council at the event, which had been scheduled for June but was delayed due to the conflict between Iran and Israel.
Riyadh has been a key ally of Sharaa’s government, which came to power after longtime ruler Bashar al-Assad was toppled in December, using its diplomatic influence to persuade US President Donald Trump to lift sanctions.
Companies, many from Gulf states and Turkey, have expressed interest in rebuilding Syria’s power generation capacity, roads, ports and other damaged infrastructure.
The Times of Israel Community.