المملكة: At 24 billion riyals .. The Saudi investment delegation signs 47 agreements in Syria

Today, the Saudi investment delegation concluded its visit to Syria headed by the Minister of Investment Khaled Al -Falih, after a series of meetings and meetings with Syrian officials to open the prospects for cooperation in multiple investment areas to achieve growth, economic prosperity and sustainable comprehensive development in Syria.
The visit program included the establishment of the Saudi -Syrian Investment Forum, which was sponsored by the President of the Syrian Arab Republic, Ahmed Al -Shara, in the presence of a number of ministers and officials in the two brotherly countries.

Saudi -Syrian Investment Forum

The forum witnessed the signing of (47) Saudi -Syrian investment agreements with a total value of approximately (24) billion riyals, including the real estate fields, infrastructure, finance, communications and information technology, energy, industry, tourism, trade and investment, health, and others.

A ministerial session was held on the sidelines of the forum, in which the Minister of Investment Khaled Al -Falih, the Syrian Minister of Economy and Industry, Muhammad Dishal Al -Shaar, and the Syrian Tourism Minister Mazen Al -Salhani, and the Chairman of the Syrian Saudi Business Council and Chairman of the Board of Directors of Aqua Power Muhammad Abu Nayan, spoke about the growing historical economic relations between the Kingdom and Syria and the sincere brotherhood of the Kingdom of Saudi Arabia led by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud His faithful era – may God protect them – and their constant directives to provide all services and facilities that contribute to the development and prosperity of Syria.

Building Syria

The session touched on the role of the leading Saudi businessmen and companies to contribute to building Syria, and the return of its economy to the best than it was, by holding partnerships and providing consultations, and effective and urgent work to develop the promising economic sectors in Syria.

During the forum, Al -Badia Cement Company announced the launch of investments of more than 200 million dollars to expand grinding and packing lines, the electric power plant, raise production capacity by more than five million tons of cement annually, and activate participatory opportunities with the Syrian government, to raise the efficiency of operating government cement factories and support the stability of the cement market in Syria.

Saudi investment projects

Within the framework of the visit, Eng. Al -Falih held a ministerial meeting that brought together a number of ministers in the Syrian government, during which he discussed a set of issues related to the development and enhancing of cooperation to support the comprehensive development process between the two brotherly countries.

Within the work of the visit, the Minister of Investment made a field tour of a number of Saudi investment projects in Syria, which included laying the foundation stone for the Al -Fayhaa Cement Factory project estimated at its investment cost in the amount of (100) million riyals, and a production capacity of (150) thousand tons annually; With the aim of supporting the Syrian local content, enhancing the transfer of experiences, and laying the foundation stone for the Al -Jawhara Tower project in the capital, Damascus, which is a Saudi -Syrian project with a building area of (25) thousand square meters, and its investments are estimated at an amount of more than (375) million Saudi riyals, which is administrative offices, commercial stores and hotel units.