Syria's High-Level Delegation, Led by President Al-Sharaa, Engages in Crucial Saudi Summits to Bolster Economic Recovery and Digital Transformation

In a significant move signaling a renewed economic outreach, the Syrian Arab Republic, represented by a high-level delegation headed by President Ahmed Al-Sharaa, is participating in the ninth edition of the Future Investment Initiative (FII9) conference in Riyadh, Saudi Arabia.

• The Syrian delegation's participation focuses on attracting investment to support reconstruction efforts.
• A core objective is advancing the digital transformation roadmap within Syria to fuel economic recovery.
• President Al-Sharaa held key meetings with Saudi telecom leaders, the Public Investment Fund, and major banking executives.
• Discussions centered on enhancing bilateral economic ties, fostering technical partnerships, and securing investment for infrastructure development.
• The Syrian delegation emphasized the strategic importance of digital transition as a cornerstone for post-conflict economic grounding.

The participation aligns with broader Arab cooperation initiatives, aiming to forge new economic bridges. Special emphasis is placed on attracting vital investments to support ongoing reconstruction processes and to promote digital transformation across Syria, positioning it as a primary driver for the Syrian economy's revival following years of conflict.

Key Consultations and Bilateral Engagements:

President Ahmed Al-Sharaa's presence constituted the central pillar of the Syrian agenda. He spearheaded a series of vital meetings designed to deepen economic relations with the Kingdom of Saudi Arabia. These high-level discussions primarily revolved around the following areas:

1. Technical and Digital Partnerships:

Reflecting the paramount priority given to digital transformation, President Ahmed Al-Sharaa met with Mr. Olayan Al-Wetaid, CEO of Saudi Telecom Company (STC), and Mr. Yazid Al-Humaid, Deputy Governor of the Public Investment Fund (PIF).

During these sessions, attended by His Excellency the Minister of Foreign Affairs and Expatriates, Asaad Hassan Al-Sheibani, and His Excellency the Minister of Communications and Information Technology, Abdul Salam Haikal, avenues for collaboration in advanced telecommunications and digital infrastructure were explored. This paves the way for potential Saudi investments in this critical Syrian sector.

2. Boosting Investment and Reconstruction Synergy:

In a related context, President Ahmed Al-Sharaa convened with His Excellency the Saudi Minister of Investment, Khalid bin Abdulaziz Al-Falih. The two sides discussed prospects for economic and investment cooperation between the two nations, focusing on enhancing partnerships in development and reconstruction to support Syria's economic recovery trajectory.

Furthermore, President Ahmed Al-Sharaa held meetings with the Chairmen of Banque Saudi Fransi (BSF), Mr. Mazen Al-Rumaih, and Alinma Bank, Mr. Abdul Malik Al-Haqeel. The meetings were attended by the Minister of Foreign Affairs and Expatriates, Asaad Al-Sheibani, the Minister of Economy and Industry, Nidal Al-Shaar, and the Minister of Finance, Mohammad Bernieh. They reviewed methods to strengthen financial and banking cooperation to support investment and development projects in Syria. Following this, President Al-Sharaa met with His Excellency the President of the Islamic Development Bank Group, Dr. Muhammad Al-Jasser.

3. Engagements with Key Business Leaders:

To broaden partnership horizons, His Excellency the President met with His Royal Highness Prince Nayef bin Sultan Al Saud, Chairman of the Board of Saudi Almarai Company, and Mr. Ahmed Shahini, Vice CEO of the Saudi company "SALIC." This underscores the keen interest of the Saudi private sector in Syrian investment opportunities.

President Al-Sharaa also engaged with several prominent international investors on the sidelines of the Future Investment Initiative conference in Riyadh. Discussions covered cooperation opportunities, investment prospects, and future projects within Syria.

A Global Platform Shaping Tomorrow:

The Future Investment Initiative conference stands as one of the world's most influential economic platforms. Under the theme "The Key to Prosperity," this year's gathering unites leaders from over 20 nations, including the Presidents of Syria, Iraq, Pakistan, Mauritania, Bangladesh, Cuba, and the King of Jordan, alongside the Chinese Vice President. Approximately 8,000 participants are attending, including 40 ministers and 600 speakers representing governments, major corporations, and global investment funds.

The significance of this platform was evident during the Syrian-Saudi "Round Table" meeting. This session included a high-level Syrian delegation comprising the Minister of Economy and Industry, Dr. Nidal Al-Shaar, the Minister of Finance, Mohammad Yosr Bernieh, the Minister of Energy, Engineer Mohammad Al-Bashir, the Minister of Communications and Information Technology, Abdul Salam Haikal, and the Director of the Syrian Investment Authority, Talal Al-Hilali. This meeting served as an institutional framework for practically discussing economic and investment cooperation prospects and reinforcing bilateral partnerships.

The Syrian Elite Gathering: A Vision for the Future:

The conference also hosted the "Syrian Elite Gathering" in Riyadh, which saw broad participation from prominent economic and investment figures.

In his address during the gathering, His Excellency the Minister of Economy and Industry, Dr. Nidal Al-Shaar, stressed the "importance of building robust economic partnerships with the Kingdom of Saudi Arabia," commending its vital role in supporting Syria's reconstruction efforts and revitalizing its productive and commercial sectors.

The meeting addressed ways to enhance economic cooperation, explore joint investment horizons across industrial, commercial, and service sectors, and review opportunities available to support economic development and reconstruction in Syria.

Digital Transformation: The Cornerstone of Recovery:

In an in-depth analysis of this strategic direction, technology expert Talal Hashem commented to the (Technical Portal) website: "Syria's participation in this global forum, and the focus of its meetings on a strategic partner like the Kingdom of Saudi Arabia, sends an important message of confidence to global markets. Investing in digital transformation is not a luxury; it is an investment in 21st-century infrastructure."

Hashem added: "For Syria, emerging from a destructive war that lasted nearly 14 years, digital transformation can leapfrog service and industrial sectors, offering a solution to chronic issues by adopting technology in administration and services. This contributes to creating quality job opportunities for youth and laying the foundation for a strong knowledge-based economy that underpins sustainable recovery. Cooperation with leading companies like STC can significantly accelerate the digital reconstruction process."

Promising Future Horizons:

The outcome of the Syrian participation at the conference indicates a serious commitment to reintegrating Syria into the Arab and international economic sphere. The Syrian delegation successfully showcased promising investment opportunities, particularly in the communications, energy, and infrastructure sectors, which are priorities during the reconstruction phase.

It is worth noting that the conference continues until October 30th, and it is anticipated that numerous agreements and Memoranda of Understanding will be signed, cementing economic cooperation between Syria and Saudi Arabia. This reflects a firm political will from both sides to open a new chapter in bilateral relations, based on mutual interests and strategic partnership that serves the peoples of both nations, contributing to achieving sustainable development and economic prosperity.