Summary
Syria and Saudi Arabia have signed a large investment agreement covering areas like aviation, energy, real estate, and telecommunications. These deals are part of Syria’s efforts to rebuild after a long civil war. Saudi Arabia is providing significant financial support as Syria's new leadership takes steps to improve its economy.
Key Facts
- Syria and Saudi Arabia signed investment deals in aviation, energy, real estate, and telecommunications.
- The deals include building a new airport in Aleppo and starting a Syrian-Saudi airline.
- Saudi Arabia pledged $2 billion for projects in Aleppo.
- Syria plans to receive $1 billion in telecommunications investment to improve connectivity between Asia and Europe.
- The new airline, Flynas Syria, will be mostly owned by the Syrian side and is expected to start in late 2026.
- Saudi's ACWA Power signed a water agreement with Syria’s Ministry of Energy.
- This is Saudi Arabia's biggest investment in Syria since U.S. sanctions on Syria were lifted.
- There has been criticism of the Syrian government for not turning foreign investment promises into actual contracts.
