Saudi Arabia, Syria Sign Major Agreements to Boost Key Sectors
The signing ceremony took place at the People’s Palace in Damascus and was attended by Syrian President Ahmad al-Sharaa and Saudi Investment Minister Khalid Al-Falih. Talal al-Hilali, head of the Syrian Investment Authority, said the agreements cover “strategic” areas that directly impact citizens’ lives, aiming to strengthen telecommunications infrastructure, expand digital connectivity, and establish a new phase of partnership based on mutual trust and respect.
Al-Falih stated that Saudi Arabia stands alongside Syria in supporting its path toward recovery, growth, and stability. He announced the launch of the Elaf Fund to invest in major projects and the activation of banking transfer channels between the two countries. He also highlighted the Silk Link project, calling it one of Syria’s largest digital infrastructure initiatives and potentially among the largest globally.
The Saudi minister added that a major water sector agreement would be signed under the sponsorship of ACWA Power, describing it as the world’s largest water project, though further details were not disclosed.
Syrian Communications Minister Abdulsalam Haykal said Syria is pursuing a strategy to leverage its geographic location as an international data transit corridor, noting that the Silk Link project would help “cement Syria’s position as a global connectivity hub.”
In aviation, Syrian Civil Aviation Authority head Omar al-Husri announced two major agreements: one to develop and operate Aleppo International Airport and another to establish a new low-cost national carrier named Nas Syria. He said these initiatives would reintegrate Syria “strongly” into the international aviation network.
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