US EditionSyria and Saudi Arabia sign multibillion-dollar investment deals to boost economy
Syria and Saudi Arabia signed deals including a $1 billion telecom project and a new low-cost airline, aiming to rebuild infrastructure and boost connectivity after lifted sanctions.
- On Feb. 7, 2026, Syria and Saudi Arabia signed multibillion-dollar investment agreements in Damascus, including a major telecommunications project, a low-cost joint airline, and plans for an international airport.
- Most Western sanctions were lifted after new authorities replaced Bashar al-Assad in December 2024, and the United States fully removed its remaining sanctions late last year, enabling investment flows.
- The SilkLink project will be implemented with around $1 billion to lay thousands of kilometers of cable, and Saudi Telecom Company will lead the telecom work.
- Observers said the deals matter more as a political signal than an immediate economic game changer, though Tom Barrack, U.S. envoy to Syria, applauded them for aiding reconstruction.
- Despite the scale, critics say the recent Syria-Saudi Arabia investment deals, including agreements with Chevron and Power International, are insufficient for rebuilding. The signings build on prior commitments—Riyadh pledged $6.4 billion in July 2025 and Syria signed deals exceeding $14 billion.
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60 Articles
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Syria’s long-struggling economy received a major jolt on Friday as Saudi Arabia and Syria unveiled a sweeping package of strategic investment agreements worth billions of dollars. The announcement came as Syrian oil officials held parallel talks with major American energy companies, signaling a potential broad reopening of the Syrian market to international capital after more than a decade of isolation. Saudi Arabia Launches a High-Stakes Invest…
Syria, KSA sign aviation, telecom pacts
Syria and Saudi Arabia signed deals Saturday that include a joint airline and a $1-billion project to develop telecommunications, officials said, as Syria seeks to rebuild after years of war. Saudi Arabia has been a major backer of Syria's Islamist authorities who took power after toppling longtime ruler Bashar al-Assad in December 2024. The new authorities in Damascus have worked to attract investment and have signed major agreements with sever…
The investments are the largest announced since the US lifted sanctions on the country.
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