Saudi Delegation Pays Visit to Syria
(MENAFN) A high-level Saudi group, headed by Investment Minister Khalid Al-Falih, arrived in Syria on Wednesday to finalize a series of economic accords designed to boost collaborative efforts between the two nations, according to a Syrian official news outlet.
The visiting party comprises over 130 prominent Saudi entrepreneurs and financiers. However, the exact length of the delegation’s stay was not revealed.
As per the news outlet, the primary objective of the visit is to identify shared investment prospects and formalize arrangements that will foster long-term development and shared financial goals between Riyadh and Damascus.
Among the planned activities is a Saudi-Syrian investment conference and the inauguration of the Fayhaa White Cement Plant located in Adra Industrial City, situated in the rural outskirts of Damascus.
According to a Saudi government-affiliated channel, this mission marks the beginning of a “new era of investment” between the Kingdom and Syria.
The planned agreements are estimated to be valued at $4 billion.
Just a few days earlier, on Saturday, Syrian President Ahmad al-Sharaa convened with a number of Saudi entrepreneurs in Damascus to deliberate on economic partnerships and to consider strategies for broadening joint initiatives across various sectors.
In a previous development on July 11, a Saudi delegation inspected Damascus International Airport to evaluate potential investment opportunities in the aviation industry and held “intensive meetings” with Syrian authorities, the outlet reported.
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