Saudi and Syrian business leaders have expressed a shared commitment to supporting the redevelopment of Syria’s energy infrastructure following a high-level meeting held in Riyadh. The discussions underscored growing momentum for regional economic cooperation, with a particular focus on both conventional and renewable energy projects.
During the meeting, participants presented proposals for joint initiatives aimed at rebuilding and modernizing Syria’s energy sector. The gathering brought together Saudi business executives and members of the Syrian expatriate community, reflecting broad interest in collaborative investment opportunities. Syrian Minister of Energy Mohammed Al-Bashir outlined recent progress made by the ministry and shared its strategic priorities, emphasizing resilience and long-term planning despite ongoing challenges, according to the Syrian Arab News Agency.
Al-Bashir highlighted the importance of economic partnerships and investor engagement in accelerating energy sector development, welcoming initiatives that contribute to infrastructure recovery and sustainable growth. The discussions align with a broader improvement in Saudi-Syrian relations, reinforced by the Syrian-Saudi Investment Forum held in Damascus in July.
That forum marked a significant step forward in bilateral economic engagement, bringing together more than 120 investors and executives from Saudi Arabia’s public and private sectors. The event resulted in the signing of 47 agreements and memoranda of understanding valued at SR24 billion ($6.4 billion), covering a wide range of industries. Energy, real estate, infrastructure, telecommunications, and finance emerged as key areas of cooperation.
The recent Riyadh meeting builds on this foundation, particularly the SR11 billion in infrastructure commitments announced during the Damascus forum. Among the most notable projects was the inauguration of the Fayhaa White Cement Factory in Adra Industrial City. Backed by a $20 million investment from Northern Region Cement Co., the facility is the first of its kind in Syria and is expected to generate more than 1,100 direct and indirect employment opportunities.
Additional agreements worth SR4 billion focused on the telecommunications sector, while collaboration opportunities in agriculture, financial services, health care, education, and information technology were also highlighted. Together, these initiatives signal a comprehensive approach to economic revitalization.
The growing economic engagement follows important diplomatic and financial developments. Saudi Arabia reopened its embassy in Damascus in 2024 after a 12-year closure, and earlier this year, the Kingdom working alongside Qatar settled Syria’s $15 million debt to the World Bank, unlocking access to multilateral funding for reconstruction.
Officials from both countries emphasized their shared historical and cultural ties, positioning the recent forums as pivotal moments in restoring long-term economic cooperation and supporting Syria’s recovery.