High Saudi delegation arrives in Damascus to sign various economic agreements
A high-level Saudi delegation, headed by Minister of Investment Khalid bin Abdulaziz al Falih, arrived in the Syrian capital Damascus this morning, at the beginning of an official visit aimed at enhancing economic and investment cooperation between the Kingdom and Syria, and pushing bilateral partnerships towards the practical implementation of the projects and agreements signed by the two countries.
According to a statement issued by the Saudi Ministry of Investment, this visit comes within the framework of supporting the strategic partnership between the two brotherly countries, enhancing the role of the private sector in supporting development projects, and creating a sustainable path for economic integration, in order to serve common interests and development needs for the next phase.
The visit is scheduled to witness the announcement of the signing of a set of strategic contracts between leading Saudi companies and Syrian government entities, including the aviation, telecommunications, infrastructure, and development initiatives.
The delegation’s visit also includes holding a series of high-level official meetings with a number of officials and relevant authorities in Syria, to discuss the prospects of investment cooperation and discuss the implementation of joint projects.
Last July, Saudi Arabia and Syria signed 47 agreements and memorandums of understanding worth 24 billion riyals during the Saudi-Syrian Investment Forum, which was held at the People’s Palace in the Syrian capital, Damascus.
The two sides also signed an agreement last August to encourage and protect investment between the two countries, during a roundtable meeting held in the Saudi capital, Riyadh.
Also, last December, Syria signed 4 agreements with Saudi companies with the aim of developing oil and gas fields and providing technical support, as part of the two countries’ efforts to strengthen partnership in the energy sector and various economic fields.
