Syria, Saudi Arabia Sign Strategic Deals, Launch Joint Airline

The agreements were announced on Saturday at the People’s Palace in Damascus, under the patronage of Syria’s interim leader Ahmed al-Sharaa. Officials from both countries unveiled what they described as “strategic contracts” covering aviation, telecommunications, infrastructure, water management and real estate development.

Syrian Investment Authority chief Talal al-Hilali said the deals aim to deepen bilateral economic ties and attract long-term investment.

Joint Airline and Digital Projects

Al-Hilali confirmed that the agreements include the establishment of a Syrian-Saudi joint airline to enhance air connectivity between the two countries. The package also features projects to modernize Syria’s digital infrastructure and expand telecommunications networks.

Saudi Investment Minister Khalid al-Falih said the initiatives reflect Riyadh’s support for Syria’s recovery, economic growth and stability.

Saudi Investment Fund and Banking Channels

Al-Falih announced the launch of the Elaaf Investment Fund, designed to support large-scale development projects in Syria. He also confirmed the reactivation of banking transfer channels between the two countries, a key step toward facilitating cross-border investment.

Among the agreements signed was an aviation deal led by Saudi carrier Flynas, which selected Syria as its first overseas investment destination.

Energy, Water and Infrastructure Focus

Other major projects include the Silk Link digital infrastructure project, a significant water agreement backed by ACWA Power, and the finalization of a deal to operate and develop the Syrian Modern Cables Company.

Syrian Energy Authority chief Mohammed al-Bashir said the agreements demonstrate Syria’s commitment to advancing strategic projects, particularly in the energy and water sectors.

He described the meeting as a “pivotal step” in strengthening the Syrian-Saudi partnership.

“Syria Is Moving in the Right Direction”

Saudi Minister of Communications Abdullah al-Swaha acknowledged Syria’s ongoing economic and political challenges but said the country is now moving “in the right direction.”

He said the investment initiatives send a clear signal of confidence, rooted in the deep historical and cultural ties between Syria and Saudi Arabia.