Saudi, Syrian Deals Strengthen Ties
These accords were finalized in Damascus within a wider initiative designed to stimulate investment flows and reinforce economic collaboration between the two nations.
The signing event took place at the People’s Palace, with Syrian President Ahmad al-Sharaa and Saudi Investment Minister Khalid Al-Falih in attendance, underscoring the political weight of the occasion.
Talal al-Hilali, who leads the Syrian Investment Authority, stated that officials convened to formalize several “strategic agreements” across essential sectors that have a direct impact on everyday life for citizens.
He explained that the arrangements are intended to upgrade telecommunications networks, advance digital connectivity frameworks, and usher in a renewed stage of cooperation grounded in reciprocal confidence and mutual respect.
Al-Falih emphasized that Saudi Arabia remains firmly supportive of Syria, backing its journey toward recovery, development, and long-term stability. He revealed the start of efforts to create the Elaf Fund to finance large-scale ventures, along with the reactivation of banking transfer mechanisms linking the two countries.
He also announced that an agreement would be signed for the Silk Link project, calling it one of Syria’s most significant digital infrastructure initiatives and potentially among the largest of its kind worldwide.
Additionally, Al-Falih noted that the sides would endorse what he characterized as the world’s largest water agreement, to be carried out under the sponsorship of Saudi company ACWA Power, though he did not disclose further specifics.
Syrian Communications Minister Abdulsalam Haykal said Syria has embraced a strategy that capitalizes on its geographic position to serve as a global data transit passage. He added that the Silk Link project would help “cement Syria’s position as a global connectivity hub.”
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