Saudi-Syrian Partnership Forum Unveils Investment Opportunities Across Twelve Economic Sectors

The Federation of Saudi Chambers, through the Saudi-Syrian Business Council, hosted the inaugural Saudi-Syrian Partnership and Investment Forum in Riyadh. This event, held on Sunday, brought together 450 government officials and investors from both nations. The forum explored investment opportunities across 12 economic sectors between Saudi Arabia and Syria. It also proposed recommendations and initiatives to enhance economic ties between the two countries.

Saudi-Syrian Business Council Chairman Mohammed Abunayyan highlighted the groundwork laid by Crown Prince Mohammed bin Salman and Syrian President Ahmed al-Sharaa for a robust economic partnership. He stressed that this collaboration is not just about transactions but aims for a comprehensive partnership through cooperation between investors from both countries.

Khaled Al-Khattaf, CEO of the Saudi Investment Promotion Authority (SIPA), emphasized that the forum builds on previous meetings to strengthen economic cooperation. He noted that signing an agreement for mutual investment protection marks a significant advancement in joint investment relations. Syria's reconstruction phase presents vast opportunities for investors across various sectors.

Al-Khattaf reported that Syrian investments in Saudi Arabia reached SAR8.4 billion in 2023, marking a 13% increase from the previous year. Additionally, 3,225 investment licenses were granted to Syrians in 2024, a 146% rise compared to 2023. Syrian companies in Saudi Arabia have employed over 61,000 people, including 14,000 Saudis.

Abdulaziz Al-Sakran, Deputy Governor of the General Authority of Foreign Trade (GAFT) for International Relations, highlighted the historical ties between Saudi Arabia and Syria. He stated that the forum aims to bolster trade and investment partnerships, aiding Syria's reconstruction and promoting its economic development.

The trade volume between the two countries saw significant growth in early 2025, reaching approximately SAR900 million in the first five months—an 80% increase compared to the same period in 2024. It is projected to surpass SAR2 billion by year-end, marking the highest trade level between them in 13 years.

Historical Investment Trends

Between 2003 and 2015, Saudi Arabia's presence in Syria included eight companies and investments worth SAR1.7 billion across 11 projects. By 2025, investment agreements increased to 47 with an estimated value of SAR24 billion. Meanwhile, Syrian investments in Saudi Arabia grew from SAR367 million in 2015 to SAR8.4 billion by 2024.

This forum represents a pivotal moment for both nations as they seek to deepen their economic ties through strategic partnerships and investments.

With inputs from SPA