Major Saudi companies plan to invest billions of dollars in Syria as part of Riyadh’s business-driven approach to the country’s recovery. However, U.S. sanctions and the fragmentation of Syrian state institutions remain significant obstacles.
اضافة اعلان
According to Reuters, Saudi and Syrian businessmen indicated that Saudi funds could soon flow into civil aviation, education, and healthcare sectors, while Riyadh is also negotiating with Damascus to establish a railway line through Jordan.
Abdullah Mando, CEO of the Saudi-Syrian Business Council, noted that companies eyeing the Syrian market include ACWA Power, a renewable energy giant, and Saudi Telecom Company (STC). The plan aims to rebuild Syria’s war-torn economic foundations by restoring energy infrastructure and the financial and telecommunications sectors.
Mando told Reuters during the Future Investment Initiative conference in Riyadh that the goal is to attract billions of dollars in real capital to Syria over the next five years.
U.S. Sanctions Remain Strict
In May, Saudi Arabia hosted a historic meeting between U.S. President Donald Trump and Syria’s new President Ahmad Al-Shar’, where Trump announced the lifting of all U.S. sanctions on Syria.
Despite broad exemptions, the Caesar Act sanctions still require Congressional action for full repeal, with lawmakers divided on the issue, though a decision is expected before year-end. Mando described the Caesar Act as “the last constraint choking Syria’s economy,” noting that while large investments are possible, moving capital remains difficult.
A U.S. State Department spokesperson said that the Trump administration supports repealing Caesar Act sanctions through the National Defense Authorization Act, which is currently under Congressional review, and emphasized ongoing U.S. engagement with regional partners to support investment that benefits all Syrians.
Billion-Dollar Deals
The World Bank estimates Syria’s reconstruction costs at around $216 billion after nearly 14 years of civil war and widespread destruction.
Saudi Arabia announced over $6 billion in investments in Syria in July, including $2.93 billion for real estate and infrastructure and $1.07 billion for ICT and telecommunications.
Saudi developer Diriyah Company, focused on historic sites in Riyadh, discussed with Syrian officials potential involvement in rebuilding historical sites in Syria.
Syria has also signed memoranda of understanding with Qatari and Emirati companies for projects in energy and infrastructure, but officials say actual funds received are limited due to sanctions and financial sector issues.
Saudi and Syrian officials remain confident that the Caesar Act sanctions will be lifted and are preparing accordingly. Mando, one of 60 Saudi businessmen in the council (many of Syrian origin), stated, “There is significant capital available; I believe spending levels are currently minimal.”
Vision 2030
Analysts note that Riyadh’s bets on Syria align with geopolitical considerations and Crown Prince Mohammed bin Salman’s Vision 2030, aiming to diversify the Saudi economy beyond oil.
Adel Hamayezia, CEO of Hybrid Advisory, said, “This approach aligns perfectly with Vision 2030, which seeks not only local transformation but also to position Saudi Arabia as a regional and global hub.” He added that Saudi prosperity and economic diversification are linked to the stability and reintegration of neighboring countries.
During the conference, Prince Al-Shar’, born in Riyadh, addressed global investors and emphasized that Syria chooses reconstruction through investment rather than aid.
