The Syrian-Saudi Investment Forum has commenced in Damascus, bringing together over 120 investors and executives from Saudi Arabia's public and private sectors.

The event marks a significant renewal of economic relations between the two nations, with Saudi Arabia participating in efforts to settle Syria's debt to the World Bank as part of broader financial support for the country.

Speaking at the forum, Saudi Arabia's Minister of Investment, Khalid Al-Falih, announced that 47 agreements and memorandums of understanding totaling SR24 billion ($6.4 billion) will be signed during the event.

This includes investments in multiple sectors such as energy, real estate, industry, and infrastructure.

The minister emphasized Saudi Arabia's commitment to strengthening economic ties with Syria.

Key areas of collaboration include financial services, healthcare, agriculture, telecommunications, information technology, construction, and education.

Agreements exceeding SR11 billion will be signed in the infrastructure sector, including the launch of three new cement production facilities.

Al-Falih also highlighted agreements worth SR4 billion in the telecommunications sector and collaborations in the agricultural and financial services sectors.

Syrian Minister of Economy and Industry Mohammad Al-Shaar described the forum as a "historic milestone" in the relationship between Saudi Arabia and Syria, affirming Syria's commitment to creating a safe investment environment for foreign investors.

The event demonstrates both nations' efforts toward economic growth and development.