Saudi Investment Minister Khalid al-Falih said today, Saturday, that the remittance channel between Saudi and Syrian banks will be activated.
Foreign Minister Falih added that during the signing of Saudi Arabia’s new investment agreements in Syria, there has been a qualitative change in cooperation with Syria through strategic projects, pointing to the conclusion of 80 agreements and memorandums of cooperation with Syria worth more than 40 billion riyals, indicating that the value of the Aleppo airport development reached 7 billion riyals through the “Eraf” fund.
He pointed out that leading Saudi companies will work on developing and operating Aleppo’s two airports, in addition to establishing a joint airline company.
Mr. Falih emphasized that the partnership with Syria is progressing at a cautious pace, with three agreements on major real estate projects targeting residential and commercial infrastructure being signed, along with the signing of an agreement to support Syria’s water and energy sectors.
The Investment Minister said the announcement in Riyadh of the lifting of sanctions against Syria was a historic moment.
He pointed out that the Saudi-Syrian Business Council will oversee strategic projects.
Saudi Investment Minister Khalid al-Falih said today, Saturday, that funds transfer channels between Saudi and Syrian banks will be activated.
During the signing of Saudi Arabia’s new investment agreement in Syria, Falih added that there is a qualitative leap forward in cooperation with Syria through strategic projects, noting that 80 agreements and memorandums of cooperation worth more than 40 billion riyals have been signed with Syria. He pointed out that the development value of Aleppo Airport reached 7 billion riyals through the “Iraaf” fund.
He pointed out that in addition to establishing a joint airline, leading Saudi companies will also work on developing and operating Aleppo Airport.
Mr. Al-Farih confirmed that the partnership with Syria is proceeding in a calculated manner, confirming that three agreements on major real estate projects targeting residential and commercial infrastructure, as well as an agreement to support Syria’s water and energy sectors, are expected to be signed.
The investment minister said the announcement in Riyadh of the lifting of sanctions against Syria was a historic moment.
He said the Saudi-Syrian Business Council would oversee strategic projects.
