RIYADH: A high-level Saudi-Syrian roundtable meeting was held today in Riyadh, attended by Minister of Investment Khalid Al-Falih and Syrian Minister of Economy and Industry Mohammad Al-Shaar, Syrian Minister of Finance Mohammed Yisr Barnieh, Syrian Minister of Energy Mohammed Al-Bashir, Syrian Minister of Communications and Information Technology Abdulsalam Haykal, and Director General of the Syrian Investment Authority Talal Al-Hilali, along with representatives from both nations’ public and private sectors.
The meeting aimed to discuss challenges, develop practical solutions for the rapid activation of investment projects, and explore new opportunities in priority sectors, with a key focus on establishing appropriate investment agreement frameworks for the next phase of cooperation.
Al-Falih affirmed the Kingdom’s keenness to be an active partner in Syria’s economic and developmental future. He highlighted the historic step of signing an agreement to encourage and protect mutual investments, which provides a comprehensive legal framework guaranteeing protection and fair treatment for investors.
The minister of investment highlighted the significant progress made in key areas of cooperation, adding that collaborative efforts among the Ministry of Investment, the Saudi Central Bank, and the Central Bank of Syria have advanced the initiative to implement direct bank transfers between the two countries. This development will facilitate the movement of capital, support trade and investment activities, and enhance confidence in the Syrian financial system.
He asserted that the Ministry of Investment is working to support investment financing by enabling the establishment of several investment funds across various sectors. These funds will serve as effective platforms for financing joint, high-quality projects and will position Saudi investment funds as reliable channels for directing regional and global investments into Syria.
The meeting included dialogue sessions focused on improving the investment climate and parallel sectoral meetings in energy, industry, communications, agriculture, and finance to confirm investment commitments. This roundtable is an extension of the growing investment cooperation between the two countries in recent months. –Agencies
