Saudi Arabia and Syria Sign Bilateral Investment Protection Agreement

Saudi Arabia and Syria convened a high-level economic roundtable in Riyadh on Monday to establish investment frameworks and enhance bilateral cooperation. The meeting, attended by Khalid bin Abdulaziz Al-Falih and a delegation of Syrian ministers, focused on priority sectors including energy, industry, agriculture, communications, and finance.

The two nations signed a bilateral investment promotion and protection agreement intended to provide legal security for investors. To facilitate trade and capital movement, the Saudi Central Bank and the Central Bank of Syria are working to implement direct bank transfers between the two institutions.

Saudi Arabia is currently developing investment funds to finance joint projects and attract regional and global capital into Syria. In response, Syria is implementing legislative facilities to attract Saudi investment and support digital transformation. Syrian Minister of Economy and Industry Mohammad Nidal al-Shaar emphasized the goal of strengthening public-private cooperation to support these initiatives.