Saudi, Syrian ministers discuss expanding investment cooperation
Saudi Gazette report
RIYADH — Saudi Minister of Investment Eng. Khalid Al-Falih held a virtual meeting on Wednesday with Syrian Minister of Economy and Industry Dr. Mohammad Nidal Al-Shaar to discuss prospects for investment cooperation between the two countries and explore promising opportunities in the Syrian market.
The meeting addressed potential public-private partnerships and ways to boost strategic investments across key productive and service sectors, with the aim of supporting economic development and fostering new avenues of regional integration.
Minister Al-Falih stressed the importance of creating an enabling environment for expanding regional investment partnerships, reaffirming Saudi Arabia's commitment to supporting Syria's economic stability and growth in a manner that serves mutual interests and promotes broader regional prosperity.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Asharq Al-Awsat
2 hours ago
- Asharq Al-Awsat
IMF Sees 'Some Progress' on Lebanon Reforms, But Says External Support Needed
Lebanon has made progress on reforms needed to revive its economy but still has key steps to take and will need external funding on concessional terms, the International Monetary Fund (IMF) said on Thursday after a week of meetings in Beirut. Lebanon's economy went into a tailspin in late 2019, prompted by decades of profligate spending by the country's ruling elite. Reforms required to access IMF funding were repeatedly derailed by political and private interests, according to Reuters. Lebanon's President Joseph Aoun and Prime Minister Nawaf Salam, both of whom took office in early 2025, pledged to prioritize reforms and secure an IMF financing agreement - but the country now faces additional needs with the widespread destruction and displacement caused by Israel's military campaign last year. 'The authorities have made some progress recently, including the amendment of the Bank Secrecy Law and submission of a new bank resolution law to Parliament,' the IMF's Lebanon mission chief Ramirez Rigo said in a written statement. Rigo added that his mission held 'productive discussions' with Lebanese officials, including on restoring the viability of the banking sector, fiscal and debt sustainability and enhancing anti-money laundering and terrorism financing measures. He said Lebanon's medium-term fiscal framework should support the restructuring of Eurobond debts, which Lebanon defaulted on in 2020, leading to a sovereign default on its $31 billion of outstanding international bonds. 'Given Lebanon's substantial reconstruction needs, limited fiscal space and lack of capacity to borrow, the country will require significant support from external partners on highly concessional terms,' the IMF statement said. The World Bank estimated Lebanon's recovery and reconstruction needs following Israel's military campaign at $11 billion. But the US has said it opposes any reconstruction funds to Lebanon until Hezbollah - the Iran-backed Lebanese armed group that fought Israel last year - is disarmed.
Leaders
5 hours ago
- Leaders
Pakistan PM Visits Saudi Arabia: Eid Celebrations & Strategic Talks
Pakistani Prime Minister Shehbaz Sharif arrived in Saudi Arabia on Thursday for a crucial two-day official visit. He accepted Crown Prince Mohammed bin Salman's invitation to strengthen vital bilateral relations between the longstanding allies. The Prime Minister's Office confirmed his arrival and the visit's objectives earlier today. During his stay, PM Sharif will celebrate Eid Al-Adha within the Kingdom. He will hold substantive bilateral talks with Crown Prince Mohammed bin Salman. Discussions will prioritize boosting mutual cooperation in vital trade and investment sectors. Regional security matters will also feature prominently on their shared agenda. The two leaders will explore avenues to further strengthen multifaceted bilateral ties. Enhancing economic partnerships and investment flows remains a top priority. They will also address Muslim Ummah welfare and regional peace initiatives. Acknowledging Mediation & Boosting Economic Partnership PM Sharif will express Pakistan's sincere gratitude for Saudi Arabia's recent diplomatic intervention. The Kingdom played a pivotal role in de-escalating tensions between Pakistan and India. Gulf partners supported this crucial mediation effort between the nuclear neighbors last month. This high-level visit underscores rapidly expanding Saudi-Pakistan economic links. Both nations signed multiple significant trade and investment agreements recently. Saudi Arabia committed a substantial $5 billion investment package supporting Pakistan's economy. Saudi and Pakistani businesses signed 34 MoUs worth $2.8 billion last year. These agreements cover industry, technology, and agriculture sectors importantly. Manara Minerals is also negotiating to acquire a stake in Pakistan's massive Reko Diq project. Enduring Bonds: Defense & Vital Diaspora Links Defense collaboration remains a cornerstone of the robust Saudi-Pakistan relationship. The nations share a deep history of military cooperation and mutual support. Pakistan also provides valuable training assistance to Saudi forces. Approximately 2.7 million Pakistanis form a crucial diaspora within Saudi Arabia. Their remittances provide the highest foreign exchange inflow for Pakistan. This financial support constitutes an essential economic lifeline for their homeland. Short link : Post Views: 11
Leaders
14 hours ago
- Leaders
Saudi Crown Prince Arrives in Mina to Oversee Hajj Services
On behalf of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister Mohammed bin Salman arrived in Mina on Thursday to supervise the comfort and services provided to pilgrims during Hajj. He also ensures the pilgrims perform their rituals with ease, safety, and security. Pilgrims from around the world gathered at Mount Arafat on Thursday to perform the pivotal ritual of standing at Arafat, known as the pinnacle of the Hajj pilgrimage. Saudi Arabia announced that over 1.5 million pilgrims from outside the Kingdom have arrived to perform Hajj this year. Ghassan Al-Naqmi, spokesperson for the Ministry of Hajj and Umrah, shared the approximate number of foreign pilgrims, without disclosing the number of domestic pilgrims. Meanwhile, Prince Abdulaziz bin Saud bin Naif bin Abdulaziz, Minister of Interior and Chairman of the Supreme Hajj Committee, reviewed the readiness of the Special Emergency Forces participating in this year's Hajj security operations. According to the Saudi Press Agency (SPA), he received a briefing from Lt. Gen. Mohammed bin Maqbool Al-Omari, commander of the Special Emergency Forces, who detailed the force's role in crowd control and the organized stoning ritual at the Jamarat site, as well as their broader mission in maintaining order and ensuring the safety of pilgrims. The Crown prince also reviewed the operational plan for the Special Emergency Forces at the Jamarat facility. Short link : Post Views: 151
