ISTANBUL

A Saudi delegation led by Investment Minister Khalid Al-Falih arrived in Syria on Wednesday to sign economic agreements aimed at strengthening bilateral cooperation, Syria’s state-run SANA news agency reported.

The delegation includes more than 130 Saudi business leaders and investors, while the duration of the visit was not disclosed.

The visit will focus on exploring joint investment opportunities and signing deals to promote sustainable development and mutual economic interests between Riyadh and Damascus, SANA reported.

The agenda includes a Saudi-Syrian investment forum and the launch of the Fayhaa White Cement Plant in the Adra Industrial City in rural Damascus.

The Saudi state-run Al Ekhbariya channel reported that the visit aims to inaugurate a new era of investment between the kingdom and Syria, with Riyadh expected to sign agreements worth $4 billion.

On Saturday, Syrian President Ahmad al-Sharaa met with a group of Saudi businessmen in Damascus to discuss economic and investment cooperation and ways to expand joint ventures across multiple sectors.

On July 11, a Saudi team visited Damascus International Airport to assess investment opportunities in the civil aviation sector and held “intensive meetings” with Syrian officials, SANA reported.

Saudi Foreign Minister Prince Faisal bin Farhan visited the Syrian capital in May for official talks with Sharaa to discuss ways to support Syria’s economy.

Since the ouster of Bashar al-Assad’s regime in late 2024, Syria’s new administration has launched economic and political reforms and intensified efforts to build partnerships with regional and international players.

Assad, Syria’s leader for nearly 25 years, fled to Russia in December, ending the Baath Party regime, which had been in power since 1963. A new transitional administration led by Sharaa was formed in January.