Kuwait city: Saudi Minister of Investment Khalid Al-Falih announced that the Kingdom aims to be an active partner in Syria's economic and developmental future. Al-Falih made this declaration during a high-level Saudi-Syrian roundtable meeting held in Riyadh, attended by Syria's Minister of Economy and Industry Mohammad Al-Shaar, Minister of Finance Mohammad Barnieh, Minister of Energy Mohammad Al-Bashir, Minister of Communications and Information Technology Abdulsalam Haykal, and Director General of the Syrian Investment Authority Talal Al-Hilali, along with representatives from both sides' public and private sectors.
According to Kuwait News Agency, Al-Falih praised the signing of an agreement aimed at encouraging and protecting mutual investments between the two nations. This agreement is viewed as a significant move towards establishing a comprehensive legal framework that ensures protection and equitable treatment for investors from both countries.
Al-Falih also highlighted the progress achieved in key areas of cooperation. He noted that the collaborative efforts of the Ministry of Investment, the Saudi Central Bank, and the Central Bank of Syria have facilitated the initiative to implement direct bank transfers between Saudi Arabia and Syria. This advancement is seen as a crucial step in strengthening economic ties.
Additionally, the Saudi minister mentioned that the Ministry of Investment is working to promote investment financing by enabling the creation of several investment funds across multiple sectors. This initiative aims to bolster the economic relationship between the two nations and expand opportunities for mutual growth.