Saudi Arabia is preparing to deploy multibillion-dollar investments into Syria’s post-war economy, with projects spanning energy, telecommunications and historic site restoration, as part of Riyadh’s broader strategy of regional economic leadership and its Vision 2030 agenda.

At the Future Investment Initiative summit in Riyadh on October 29 2025, Syrian President Ahmed al‑Sharaa announced that Syria had attracted some US$28 billion in foreign investment over the past ten months and urged further capital flows, positioning his country as a regional trade corridor.

This follows earlier agreements in July 2025, when Saudi Arabia signed investment deals valued at approximately US$6.4 billion with Syria covering real estate, infrastructure and telecoms.

Despite these commitments, major obstacles remain.

The United States’ Caesar sanctions—a set of sweeping restrictions targeting Syrian reconstruction spending—remain in force and require Congressional action to be fully lifted.

Saudi Finance Minister Mohammed al‑Jadaan noted on October 17 that “a lot of investments are now going in that direction”, yet emphasised that the movement of capital is still “difficult” due to the remaining sanctions regime.

The Saudi-Syrian business agenda includes high-profile ventures such as Diriyah Gate Company, which held talks with Syrian officials on reconstructing historic cities such as Damascus and Aleppo with the aim of becoming a global developer of cultural-heritage assets.

At the same time, the Saudi Fund for Development signed a memorandum to supply Syria with 1.65 million barrels of crude oil in a gesture of reconstruction support and to revive refinery operations.

For Saudi Arabia, the push into Syria aligns with its dual goals of diversifying its economy away from oil and re-asserting influence across the region.

Analysts say the move also reflects Riyadh’s intent to supplant Iran’s previous dominance in Syrian reconstruction and secure future trade corridors.

However, success hinges on clarity around sanctions relief, transparent governance in Syria and the readiness of its legal and financial infrastructure to absorb foreign capital.

While the groundwork for investment is laid, many agreements remain memoranda of understanding rather than operationalised contracts.

Saudi-Syrian officials alike acknowledge that despite “available capital,” actual spend remains near zero until regulatory and sanction-related issues are resolved.

As one Saudi-Syrian business council executive put it: “There is significant available capital … but the spend is zero.”