Saudi Investment in Syria: From Understandings to Funding

President Ahmad al-Sharaa's visit to Riyadh comes as economic relations between Syria and Saudi Arabia move toward a clearer partnership, according to Al-Watan newspaper, with Saudi investments entering aviation, telecommunications and infrastructure.

Investments Already Under Way

Dr. Abdulrahman Mohammad, professor of finance and banking at the Faculty of Economics at Hama University, told Al-Watan that the visit could translate political momentum into more specific financial commitments. He noted that Saudi Arabia's Elaf fund has already begun its first investment, in the development of Aleppo International Airport.

Most Attractive Sectors

Mohammad considered the following among the sectors most attractive to Saudi capital:

• Telecommunications and digital infrastructure
• Aviation
• Energy
• Water

He pointed out that the Silk Link digital infrastructure project, together with investments in aviation, energy and water, could form the core of a broader economic partnership.

Three Conditions for Growth

According to Mohammad, the recent Saudi contracts represent a potential structural turning point for the Syrian economy, and their results depend on three factors:

• Monetary stability
• Institutional efficiency
• Linking large projects to local value chains

He explained that the pace of investment inflows is tied to completing the institutional framework, and that turning projects into a growth engine requires a stable exchange rate, banking sector reform and a clear regulatory framework for foreign investment.

Measuring Success

Mohammad stressed that success is measured not by the volume of funding alone but by the ability of Saudi projects to create forward and backward links with Syria's productive base, turning capital into output, jobs and local activity.