From American eagle to dove of peace: New era begins in Diriyah
The Ministry of Investment recently organized the Saudi-US Investment Forum as part of US President Donald Trump's trip to the Kingdom.
I was honored to be invited to this convergence of political and business minds in the heart of the Saudi capital Diriyah.
Since the beginning of his second term Trump has made a significant pivot in his international strategy, shifting from a policy centered on military interventions to one focused on diplomacy and peace. This strategic change is particularly evident in Trump's recent actions and engagements regarding Syria.
Trump surprised the audience during his opening speech at the forum by declaring that he would lift sanctions against the Syrian Arab Republic. He confirmed that his decision was driven by Crown Prince Mohammed bin Salman's request, which he described as essential for Syria's economic recovery and long-term prosperity.
This move marks a dramatic turning point in US-Syria relations, as the country has faced severe economic restrictions since the onset of the Syrian Civil War in 2011.
Sanctions were initially imposed to pressure the Assad regime to halt human rights violations and engage in negotiations to end the conflict. By lifting these sanctions Trump has signaled a willingness to engage with Syria directly rather than isolate it.
This decision may also reflect a broader strategy to rebuild Syria's economy and infrastructure, which could, in turn, help stabilize the region.
On the forum's second day, another surprising diplomatic development occurred: the crown prince hosted a meeting with Trump, Syrian President Ahmad Al-Sharaa, and Turkish President Recep Tayyip Erdogan, who joined via conference call.
The meeting marked a historic endorsement by the Trump administration of Syria's new leadership, with the Saudi leadership serving as mediator. For Syria, this engagement could open the door to greater international cooperation and support for reconstruction efforts.
Recently, I attended a Ministry of Investment session on investing in Syria, presided over by Investment Minister Khalid Al-Falih and attended by CEOs from leading Saudi companies such as ACWA Power, Alfanar, BMG, Albawani, Al-Muhaidib, Abudawood, and others.
The session concluded that we should postpone any investment decisions until the sanctions are lifted. On a related note, I also participated in a similar session with another government entity to explore ways to help Syria restore its devastated economy.
Trump's shift from war to peace represents a bold and transformative approach to foreign policy. By lifting sanctions on Syria, engaging directly with its leadership, and collaborating with regional allies like Saudi Arabia, Trump is attempting to chart a new course in US-Middle East relations.
While the long-term outcomes remain uncertain, the skies above Diriyah are showing the American eagle transforming into a dove of peace.
• Basil M.K. Al-Ghalayini is chairman and CEO of BMG Financial Group.
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