Saudi Arabia set to sign 47 deals worth SAR 24B: Al-Falih
In his speech during the forum, Al-Falih indicated that agreements worth more than SAR 11 billion will be signed in the infrastructure and real estate development sectors, including the establishment of more than three new cement plants. Additionally, Saudi telecommunications and technology companies will sign agreements worth nearly SAR 4 billion to develop digital infrastructure and automation, enhance cybersecurity capabilities, and build advanced systems in programming, artificial intelligence, and data centers in Syria.
Moreover, Bayt Alebaa Co. will sign an agreement to build a distinguished residential and commercial project in Homs, at a cost estimated at billions of riyals. An agreement will also be signed between the Saudi Tadawul Group and the Damascus Securities Exchange to further strengthen joint cooperation in the field of Fintech, dual listings, financial data exchange, and the launch of investment and financing funds, which will have a motivating impact on investment in Syria, according to the minister.
He pointed out that the agricultural sector in Syria is vital and has promising potential, saying he is looking forward to working with the Syrian side to develop qualitative joint projects, including model farms and manufacturing industries, in addition to knowledge and technical exchange.
Al-Falih also stated that Crown Prince Mohammed bin Salman has directed the immediate establishment of a Saudi-Syrian Business Council.
He highlighted the steps taken by the Syrian government to boost the investment climate, most notably the amendment of the investment law, in addition to initiatives to urgently finalize the investment protection agreement between Saudi Arabia and Syria, which will enter into force soon and with exceptional speed.
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