A Syrian delegation visits Riyadh to boost economic ties after a $6.4 billion investment pledge, as Damascus quietly restructures its economy amid political and sanction challenges.
A Syrian delegation led by Minister of Economy and Industry Mohammad Nidal al-Shaar will travel to Riyadh on Monday to strengthen economic relations with Saudi Arabia.
Saudi Arabia has previously announced plans to invest $6.4 billion in Syria, a move seen as part of a broader push to expand regional integration.
The visit follows last month’s Saudi-Syrian Investment Forum, held under the sponsorship of Syria’s interim president Ahmad Sharaa, where 47 investment agreements were signed across key sectors.
Those agreements, worth a combined $6.4 billion, covered infrastructure, energy, manufacturing, and agriculture, marking one of the largest pledges of foreign investment in Syria in recent years.
According to a Reuters investigation, the new Syrian government has been quietly restructuring the country’s economy following the fall of Bashar al-Assad, working through a committee tasked with overseeing economic reforms.
The restructuring is reportedly led by Ibrahim Soukariyeh, an Australian of Lebanese descent previously sanctioned for alleged terror financing, raising questions about transparency and oversight in Syria’s economic revival.
Analysts note that while Saudi investment may provide much-needed capital for reconstruction, the political risks and the shadow of international sanctions could complicate Syria’s path toward sustainable recovery.
