Syria and Saudi Arabia Ink Billions in Investment to Revive Economy Amid Sectarian Tensions

Syria and Saudi Arabia have embarked on a significant economic partnership, announcing 47 investment agreements valued at over USD 6 billion. This ambitious initiative aims to rejuvenate Syria's economy, heavily impacted by years of civil conflict.

Signed during the Syrian-Saudi Investment Forum in Damascus, these agreements span various sectors, from real estate to telecommunications and finance. Projects in the pipeline include new housing, reconstruction efforts for war-damaged areas, and development in tourism and entertainment, alongside the construction of new cement factories.

However, this economic boost comes amid a renewed wave of sectarian violence in Syria, particularly affecting the southern province of Sweida. The clashes, which began on July 13, have resulted in significant casualties and displacement, posing serious challenges to the interim Syrian government supported by Saudi Arabia.

(With inputs from agencies.)