Saudi announces $5 billion in Syria investments - Region
Saudi Arabia has been a major backer of the new Syrian government, which seized power after Islamist-led rebels toppled longtime ruler Bashar al-Assad in December following 14 years of civil war.
The delegation of some 150 investors and representatives of the Saudi public and private sectors, led by Investment Minister Khalid Al-Falih, attended a forum in Damascus.
"The announced investments, valued at 19 billion Saudi riyals (about $5 billion), span vital and strategic sectors, including real estate, infrastructure, communications and IT, transportation and logistics, industry, tourism, energy, trade," and more, a statement from the investment ministry said.
On Tuesday, the ministry had said the Damascus forum aimed to "explore cooperation opportunities and sign agreements that enhance sustainable development and serve the interests of the two brotherly peoples".
Earlier this month, President Donald Trump formalised the dismantling of US sanctions on Syria, hoping to reintegrate the country into the global economy.
He had already lifted most of the measures in May, responding to appeals from Saudi Arabia and Turkey.
The US president met Syria's interim leader, Ahmed al-Sharaa, during a visit to Saudi Arabia the same month.
Sharaa, a former jihadist, had also paid a visit to Riyadh in February in his first trip abroad since Assad's ouster.
Earlier this year, Saudi Arabia and Qatar pledged to settle Syria's debt to the World Bank, totalling about $15 million.
Despite vows to unify the country, the new government in Damascus has struggled to maintain order, with deadly clashes involving minority groups raising questions about Syria's stability.
Bloody violence in Sweida province earlier this month started with clashes between Druze fighters and Sunni Bedouin tribes, but soon escalated, with Israel later intervening with air strikes targeting government installations.
More than 1,300 people, mostly Druze, were estimated to have been killed during the fighting, according to the Syrian Observatory for Human Rights monitor.
Follow us on:
Short link:
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al-Ahram Weekly
39 minutes ago
- Al-Ahram Weekly
First group of Syrian refugees returns home from Lebanon under new UN plan - Region
The first group of Syrian refugees returned home from Lebanon on Tuesday under a new plan the United Nations developed with the Lebanese government following the downfall of Bashar Assad's rule in December. Syria's uprising-turned-conflict displaced half of the country's pre-war population of 23 million over the last 14 years. Lebanon hosted an estimated 1.5 million refugees, at one point making up roughly a quarter of its six million people, with many having been smuggled across the border and unregistered with the UN. The new plan has the UN refugee agency offering $100 in cash to each repatriated Syrian refugee and the Lebanese authorities waiving any fees or fines they owe. The UNHCR and the International Organisation for Migration will provide them with buses for their return journey. The UNHCR also says it will help returning Syrians with "cash grants, legal assistance for civil documents, psychosocial support, livelihood opportunities, and other protection services.' The strain on Lebanon as poverty spreads Lebanese authorities have repeatedly requested the repatriation of Syrian refugees over the years, a call that grew louder with the widespread poverty in the Mediterranean country and shrinking funding for aid agencies. But Syria under Assad was not yet safe for their return, according to major rights organizations. Many Syrians had also previously said the war, forced conscription under Syria's former government, and unpaid residency fines in Lebanon have held them back from returning. But Syria now has a new government under President Ahmed al-Sharaa, who led the surprise offensive that ousted Assad, and the Lebanese Prime Minister Nawaf Salam's government hopes Syrians will sign up for the joint repatriation plan. The UNHCR estimates that over 205,000 Syrians have crossed back into the country from Lebanon since December, of which at least 126,000 were confirmed to be full returns, said Abou Khaled. Thousands of Syrian refugees ready to return home UNHCR Lebanon spokesperson Lisa Abou Khaled says about 17,000 Syrian refugees in Lebanon have already signed up to go back to their home country, though the vast majority have opted not to take the buses. Tuesday's repatriation was a 'test run,' she said, with only 72 people, mostly going to Syria's third-largest city of Homs and rural Damascus. Syrian border authorities greeted the returning refugees with roses and water bottles, as they filled out forms after exiting the bus. Some took pictures in front of Syria's new green flag. Among them was Rasha, who told The Associated Press she was elated to return for the first time in 14 years. 'We're going home with nothing, but it's easier than having to keep paying rent,' she said, using only her first name. She and her husband are heading to Homs. Before, she wouldn't leave because her sons were at the age of conscription, which she described as 'sending your son to his death." They also couldn't afford to pay all the fines for overstaying in Lebanon for 14 years. Raghad fled to Lebanon when she was 10 years old after her father was killed in Homs, and is returning for the first time to her family home with her siblings and their children. 'We're hoping to fix it so we can live there for a bit," she said. 'I can't imagine myself living there without Dad." A humanitarian crisis still exists in Syria Despite Washington lifting decades-long sanctions, Syria is still reeling from an economic crisis that has pulled the vast majority of its population into poverty. It's still also trying to rebuild hundreds of billions of dollars in battered infrastructure after the conflict. Abou Khaled, the UNHCR Lebanon spokesperson, warns that this might hinder long-term returns if not resolved soon. 'We must acknowledge that there is a real humanitarian crisis in Syria that remains very significant,' she explained. 'Millions of people will need urgent help to be able to return in a sustainable way.' Follow us on: Facebook Instagram Whatsapp Short link:
Al-Ahram Weekly
an hour ago
- Al-Ahram Weekly
Lebanon, and Fairuz, bid iconic composer Ziad Rahbani farewell
Hundreds of people in Lebanon paid tribute Monday to iconic composer, pianist and playwright Ziad Rahbani, who died over the weekend. His mother, Fairuz, one of the Arab world's most esteemed singers, made a rare public appearance. Rahbani, also known as a political provocateur, died Saturday at age 69. The cause of death was not immediately known. His passing shocked much of the Arab world, which appreciated his satire, unapologetic political critique and avante-garde, jazz-inspired compositions that mirrored the chaos and contradictions of Lebanon throughout its civil war from 1975 until 1990. He also composed some of his mother's most famous songs. فيروز في وداع ابنها زياد Fayrouz bids farewell to her son Ziad — Annahar النهار (@Annahar) July 28, 2025 The Rahbani family was a cornerstone in Lebanon's golden era of music theater that today is steeped in idealism and nostalgia in a troubled country. Top Lebanese political officials and artists paid tribute after the death was announced. Rahbani, a leftist Greek Orthodox, often mocked Lebanon's sectarian divisions in his work. Hundreds of people holding roses and photos gathered by Khoury Hospital near Beirut's busy Hamra district, solemnly singing some of his most famous songs and applauding as a vehicle carrying his body left its garage. Reem Haidar, who grew up during the civil war, said Rahbani's songs and their messages were what she and others associated with at a time when there was 'no nation to belong to.' The vehicle made its way to a church in the mountainous town of Bikfaya before burial in the family cemetery. Fairuz, 90, had spent many years away from the public eye. Wearing black sunglasses and a black veil, she greeted visitors who came to pay respects. She had not been seen publicly since photos surfaced of her meeting with French President Emmanuel Macron, who visited her residence in 2020 to award her France's highest medal of honor. In recent years, Rahbani also appeared less in the public eye, yet his influence never waned. Younger generations rediscovered his plays online and sampled his music in protest movements. He continued to compose and write, speaking often of his frustration with Lebanon's political stagnation and decaying public life. Rahbani is survived by his mother and his sister Reema and brother Hali. Follow us on: Facebook Instagram Whatsapp Short link:
Al-Ahram Weekly
3 hours ago
- Al-Ahram Weekly
Lebanon bids iconic composer Ziad Rahbani farewell
Hundreds of people in Lebanon paid tribute Monday to iconic composer, pianist and playwright Ziad Rahbani, who died over the weekend. His mother, Fairuz, one of the Arab world's most esteemed singers, made a rare public appearance. Rahbani, also known as a political provocateur, died Saturday at age 69. The cause of death was not immediately known. His passing shocked much of the Arab world, which appreciated his satire, unapologetic political critique and avante-garde, jazz-inspired compositions that mirrored the chaos and contradictions of Lebanon throughout its civil war from 1975 until 1990. He also composed some of his mother's most famous songs. The Rahbani family was a cornerstone in Lebanon's golden era of music theater that today is steeped in idealism and nostalgia in a troubled country. Top Lebanese political officials and artists paid tribute after the death was announced. Rahbani, a leftist Greek Orthodox, often mocked Lebanon's sectarian divisions in his work. Hundreds of people holding roses and photos gathered by Khoury Hospital near Beirut's busy Hamra district, solemnly singing some of his most famous songs and applauding as a vehicle carrying his body left its garage. Reem Haidar, who grew up during the civil war, said Rahbani's songs and their messages were what she and others associated with at a time when there was 'no nation to belong to.' The vehicle made its way to a church in the mountainous town of Bikfaya before burial in the family cemetery. Fairuz, 90, had spent many years away from the public eye. Wearing black sunglasses and a black veil, she greeted visitors who came to pay respects. She had not been seen publicly since photos surfaced of her meeting with French President Emmanuel Macron, who visited her residence in 2020 to award her France's highest medal of honor. In recent years, Rahbani also appeared less in the public eye, yet his influence never waned. Younger generations rediscovered his plays online and sampled his music in protest movements. He continued to compose and write, speaking often of his frustration with Lebanon's political stagnation and decaying public life. Rahbani is survived by his mother and his sister Reema and brother Hali. Follow us on: Facebook Instagram Whatsapp Short link:
