Syria’s president says reconstruction should rely on investment, not aid

ISTANBUL

Syrian President Ahmad al-Sharaa said Wednesday that his country’s reconstruction should be driven by investment rather than foreign aid, emphasizing Syria’s strategic role in regional stability and its growing economic ties with Saudi Arabia.

Speaking at the Future Investment Initiative (FII) 2025 conference in Riyadh, Sharaa highlighted Saudi Arabia’s role in regional economic leadership and its support for Syria’s post-war recovery.

“We want to rebuild Syria through investment, not through aid and assistance,” he said. “Saudi Arabia is a major player in the region, and under Crown Prince Mohammed bin Salman’s vision, it has become a hub for economists in the Middle East.”

Sharaa noted that the economy is closely tied to regional security and that instability in Syria during the civil war has posed strategic risks, including the spread of drugs and migration crises.

“The world has experienced Syria in turmoil over the past 14 years and as a generator of crises over the last 60 years,” he said.

He emphasized that Syria has opened up to global investment, attracting $28 billion in the first six months after amending investment laws.

“Syria’s investment opportunities are rich, and major global economists recognize this,” he said, adding that the country has partnerships with Türkiye, Saudi Arabia, Qatar, the UAE, Bahrain, Jordan, and US companies.

“Saudi Arabia supports prosperity, stability, and development in Syria, and I have been following for years the vision put forward by the Saudi crown prince, which encompasses the entire region,” he added.

Sharaa stressed the government’s commitment to protecting investors under the law and integrating Syria into the regional and global economy. “We cannot live in isolation. Integration with other countries creates a fully connected future economy,” he said.

The Syrian leader concluded by underscoring that Syria will achieve balanced economic rankings regionally and internationally and “will be among major economies within several years.”

Separately, Sharaa met with bin Salman to discuss bilateral cooperation, particularly in investment and economic ties, as well as exchanging views on regional and international developments, the Syrian presidency said in a statement.

A number of ministers and senior officials from both countries attended the talks, “reflecting the depth of the fraternal relations between the Syrian Arab Republic and the Kingdom of Saudi Arabia and their shared desire to strengthen and develop them,” the statement added.

Sharaa landed in Riyadh on Tuesday to participate in the third day of the ninth edition of the Future Investment Initiative (FII) conference, hosted by Riyadh through Oct. 30. The event brings together more than 8,000 participants, including senior officials from around the world.

This is the third visit by Sharaa to the kingdom since he assumed Syria’s presidency in January 2025.

Syria has been working to revive the country’s economy by attracting investors and signing trade agreements with regional states and companies after Bashar al-Assad fled to Russia in late 2024, ending the Baath Party’s decades-long rule since 1963.