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

The Federation of Saudi Chambers, through the Saudi-Syrian Business Council, hosted a groundbreaking forum in Riyadh on Sunday. This event, the first of its kind at the private sector level, saw participation from 450 government officials and investors from both Saudi Arabia and Syria. The forum highlighted investment opportunities across 12 economic sectors and proposed initiatives to enhance economic ties between the two nations.

Saudi-Syrian Business Council Chairman Mohammed Abunayyan emphasized that the relationship between Saudi Arabia and Syria is built on a solid foundation laid by Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud and Syrian President Ahmed al-Sharaa. He stated that this partnership is not merely about transactions but aims for comprehensive cooperation between investors from both countries.

Khaled Al-Khattaf, CEO of the Saudi Investment Promotion Authority (SIPA), remarked that this forum builds on previous meetings and is crucial for strengthening economic ties. He highlighted that signing an agreement for mutual investment protection marks a significant advancement in joint investment relations. Al-Khattaf also noted Syria's readiness for reconstruction, offering vast opportunities for investors.

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

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

Al-Sakran highlighted significant growth in trade volume between the two countries. In the first five months of this year alone, trade reached around SAR900 million—an 80% increase compared to the same period in 2024—and is expected to surpass SAR2 billion by year-end. This would mark the highest trade level between them in 13 years.

Historical Investment Trends

Data shows substantial growth in bilateral investments over recent years. From 2003 to 2015, Saudi investments in Syria included eight companies and 11 projects valued at SAR1.7 billion. By 2025, investment agreements rose to 47 with an estimated value of SAR24 billion.

Conversely, Syrian investments in Saudi Arabia were valued at SAR367 million in 2015 but surged to SAR8.4 billion by 2024. These figures underscore a robust increase in economic collaboration between the two nations.

This forum represents a pivotal step towards enhancing economic cooperation between Saudi Arabia and Syria. With promising opportunities across various sectors, both countries are poised for strengthened partnerships that will benefit their economies significantly.

With inputs from SPA