Saudi Arabia Invests Billions in Post-war Syrian Revival

Saudi Arabia has pledged $6.4 billion in investments aimed at revitalizing Syria, signaling closer relations with interim President Ahmed al-Sharaa. Announced by Saudi Investment Minister Khalid Al-Falih in Damascus, these deals are essential as Syria faces ongoing challenges following its devastating 14-year civil war.

The investments include a notable $2.93 billion for real estate and infrastructure, and $1.07 billion allocated to telecommunications and IT. Major companies such as Saudi Telecom Company (STC), GO Telecom, and others are involved. Al-Falih identified this commitment as a testament to Saudi Arabia's supportive stance towards Syria.

A Saudi-Syrian Business Council will be established as 47 agreements are set to be inked. This initiative comes as Syria's government garners backing from Riyadh to rebuild and stabilize the war-torn country. Additionally, Syria has secured substantial foreign deals, including a $7-billion power agreement with Qatar.

(With inputs from agencies.)