24 Hrs
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الاقتصادية
Saudi France strengthen Syria investments
Saudi Arabia and France announced their intention to expand their investment presence in Syria through the establishment of a tripartite Business Council aimed at developing economic relations and stimulating investments. This move comes as Damascus seeks to rebuild its economy, which has been heavily damaged by war. The announcement follows a visit by the Saudi Crown Prince to France, during which both sides emphasized the importance of having a strong institutional framework to promote economic cooperation. They highlighted the potential of Syria's geographic location in reconnecting trade routes between Europe, the Gulf, and Asia. French efforts include investments in transportation and logistics sectors, as well as a boost in financial cooperation. Meanwhile, Saudi Arabia has increased its investments, signing agreements worth over $6.4 billion. Damascus hopes to translate these understandings into concrete projects to support reconstruction, which is estimated to require approximately $216 billion. The establishment of the council represents an important step toward strengthening collaboration among the involved international powers, as Syria's recovery and rebuilding depend on improving the business environment and achieving political and security stability.
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