Syrian, Saudi Business Councils Discuss Investment

The Syrian Saudi and Saudi Syrian business councils organized a joint forum at the Seven Gates Hotel in Damascus, aimed at following up on existing agreements, identifying challenges, developing appropriate solutions, and shaping opportunities to strengthen cooperation between the two sides, alongside setting a framework for joint sectoral committees.

Investment Infrastructure

Haytham Joud, head of the Syrian Saudi Business Council, told the Syrian Arab News Agency (SANA) that the council has prepared everything needed to provide the infrastructure required for investment with the Saudi side, expressing hope that the forum's results would emerge soon, particularly in investment and support for Syrian exports to the Kingdom.

Joud noted Saudi support for the Syrian economy, explaining that the Syrian government has shown strong positivity and commitment to opening the door to investments and addressing challenges facing business development between the two countries.

Jobs and Bank Transfers

Joud said the council is currently focused on creating job opportunities for Syrians and facilitating bank transfers from the Kingdom, allowing Syrians residing there to send money to their families in Syria more easily, contributing to smoother transfers and lower costs.

Eight Economic Sectors

Nasser Abd al-Mu'in al-Shawaf, head of the executive committee of the Saudi Syrian Business Council, told SANA that the council operates across eight sectors covering most aspects of the Syrian economy, noting alignment between the two sides and a shared desire to build an effective partnership supporting Syria's economic recovery.

• Infrastructure
• Telecommunications
• Aviation
• Energy
• Water
• Housing

Al-Shawaf pointed to the activity of several Saudi companies in these sectors, in addition to initiatives in energy and water, noting that work is underway on files related to citizens' daily lives. He indicated interest in the housing file, with the announcement of some major real estate initiatives and projects in Damascus, alongside a special meeting to present Saudi experiences and models that could benefit Syria.

Background on the Council's Formation

Minister of Economy and Industry Nidal al-Shaar issued a decision on February 2 establishing the Syrian Saudi Business Council on the Syrian side, as part of efforts to strengthen economic cooperation between the two countries.