Riyadh: The Federation of Saudi Chambers, represented by the Saudi-Syrian Business Council, held the inaugural Saudi-Syrian Partnership and Investment Forum in Riyadh, with participation from 450 government officials and investors from both countries. The forum aimed to outline investment opportunities across 12 economic sectors and foster economic relations between Saudi Arabia and Syria.
According to Saudi Press Agency, the forum unveiled several initiatives to strengthen the bilateral economic partnership. In his address, Mohammed Abunayyan, Chairman of the Saudi-Syrian Business Council, emphasized the strategic foundation laid by Crown Prince Mohammed bin Salman and Syrian President Ahmed al-Sharaa for a comprehensive partnership beyond mere business deals.
Khaled Al-Khattaf, CEO of the Saudi Investment Promotion Authority (SIPA), highlighted that the forum builds on previous engagements and marks a significant step in enhancing economic cooperation. He noted the signing of a mutual investment protection agreement as a pivotal development and pointed out Syria's readiness for reconstruction, presenting vast opportunities for investors.
Al-Khattaf reported a 13% increase in Syrian investments in the Kingdom, reaching SAR8.4 billion in 2023, with a notable rise in investment licenses granted to Syrians. Syrian companies in Saudi Arabia have created over 61,000 jobs, including 14,000 for Saudis.
Abdulaziz Al-Sakran, Deputy Governor of the General Authority of Foreign Trade (GAFT), highlighted the historical ties between the two nations and the forum's role in fostering trade partnerships. He noted significant growth in trade volume, which reached SAR900 million in the first five months of the year, with expectations to surpass SAR2 billion by year-end.
Data indicates substantial growth in bilateral investments over the years, with Saudi investments in Syria increasing from SAR1.7 billion between 2003 and 2015 to SAR24 billion in 2025. Similarly, Syrian investments in Saudi Arabia grew from SAR367 million in 2015 to SAR8.4 billion in 2024.