Saudi Arabia and Syria agreed to a number of strategic contracts on Saturday.
The deals come after Syria hosted the signing of a memorandum of understanding between Hebron and a Qatar-based company to pursue offshore oil and gas exploration and follow other investments Saudi Arabia announced after meeting Turkey’s President Recep Tayyip Erdogan.
Syrian state media SANA noted that “under the patronage of President Ahmed al-Sharaa, the ceremony to announce the signing of ‘strategic contracts’ between Syria and Saudi Arabia started Saturday at the People’s Palace in Damascus.”
The report said that “the agreements cover the aviation, communications, infrastructure, and real estate development sectors.”
Saudi Arabia sent a large economic delegation to Syria to sign the contracts.
“The contracts, expected to be signed between the Syrian and Saudi sides, will cover the aviation, telecommunications, infrastructure services, and real estate development sectors,” SANA added.
“The Saudi economic delegation is headed by Saudi Investment Minister Khalid al-Falih.”
In addition, US Envoy to Syria Tom Barrack wrote that “we commend the Saudi-Syrian investment agreements announced this week. Strategic partnerships in aviation, infrastructure, and telecommunications will contribute meaningfully to Syria’s reconstruction efforts.
“As [President Donald Trump] has emphasized, regional stability is best achieved when nations of the region take responsibility for their own future – and this partnership delivers on that principle.”
Barrack is also the US Ambassador to Turkey.
Levant24, a local outlet in Syria, noted that the deals include a partnership with the “Syrian Civil Aviation Authority to develop the new Aleppo International Airport, upgrade the current airport, and establish a Syrian commercial and cargo airline.”
There are also projects focusing on transport and seawater desalination.
In addition, Saudi Arabia will invest in upgrading Syria’s communications infrastructure.
This will include new fiber optic networks and data centers. Deals also covered the Modern Syrian Cable Company and the Syrian Development Fund.
Syria seeking investment to recover from years of war
These deals matter because Syria needs massive investment to recover from more than a decade of war. Syria’s government recently deployed forces in eastern Syria as part of an agreement with the Kurdish-led Syrian Democratic Forces.
The country’s only area now outside government control is the Druze area of Sweida. Syria is looking to rebuild its infrastructure and move toward a future of economic investment and prosperity. Its government is seeking to end years of conflict.
Barrack’s comments illustrate how the White House is focused on economic investment in Syria. The White House moved to end sanctions on Syria in order to advance this goal.