Syria, Saudi Arabia Seal Major Strategic Deals in Damascus to Drive Recovery and Investment
Syria and Saudi Arabia have signed a series of major strategic agreements in Damascus, covering key sectors including aviation, telecommunications, infrastructure and real estate, in a move aimed at boosting Syria’s recovery and long-term development.
According to Syria’s state news agency SANA, the agreements were signed on Saturday during a ceremony at the People’s Palace, attended by Syrian President Ahmad al-Sharaa and Saudi Investment Minister Khalid Al-Falih.
Talal al-Hilali, head of the Syrian Investment Authority, said the deals focus on vital sectors that directly affect citizens’ lives, describing them as “strategic agreements” designed to strengthen telecommunications infrastructure, enhance digital connectivity and open a new phase of partnership based on mutual trust and cooperation.
Speaking at the event, Al-Falih said Saudi Arabia stands firmly with Syria in supporting its path toward recovery, growth and stability. He announced the launch of work to establish the Elaf Fund to finance major investment projects, as well as the activation of banking transfer channels between the two countries.
He also disclosed plans to sign an agreement for the Silk Link project, one of Syria’s largest digital infrastructure initiatives, which could rank among the biggest globally. In addition, Al-Falih revealed that the two sides would sign what he described as the world’s largest water agreement under the sponsorship of Saudi firm ACWA Power, without providing further details.
Syrian Communications Minister Abdulsalam Haykal said Syria is pursuing a strategy to leverage its geographic location to become an international data transit corridor, noting that the Silk Link project would help position the country as a global connectivity hub.
Meanwhile, Syrian Civil Aviation Authority head Omar al-Husri announced two major aviation agreements: one for the development and operation of Aleppo International Airport and another to establish a new low-cost national airline, Nas Syria. He said the initiatives would restore Syria’s strong presence in the international aviation network.
The agreements follow the arrival in Damascus of a high-level Saudi economic delegation led by Al-Falih, which included Saudi Communications Minister Abdullah Al-Swaha and Civil Aviation Authority President Abdulaziz Al-Duailej, as part of broader efforts to deepen economic cooperation.
Saudi Arabia has emerged as one of the strongest regional supporters of Syria’s new administration since the ouster of the Assad regime, with both countries intensifying high-level engagements and signing multiple agreements to support Syria’s reconstruction and economic revival.
