President Ahmad al-Sharaa met on Thursday with Mohammed Abu Nyan, Chairman of the Saudi-Syrian Business Council, and an accompanying delegation at the People’s Palace in Damascus. Syrian Minister of Economy and Industry Nidal al-Shaar attended the high-level talks.
The meeting focused on strengthening the Council’s role in advancing bilateral economic cooperation and accelerating investment flows between Syria and Saudi Arabia. It also served as a comprehensive forum to review ongoing initiatives and strategic projects the Council is pursuing across several priority sectors.
During the session, the delegation delivered an extensive briefing outlining completed projects, current developments, and future operational plans intended to broaden the scope of commercial partnership between the two countries.
The visit comes amid sustained momentum in Syrian-Saudi engagement aimed at expanding cross-border trade and investment. On Wednesday, the Saudi delegation met with Kutaiba Badawi, Chairman of the General Authority for Ports and Customs, to assess joint development opportunities in maritime ports, free zones, and logistics services — areas viewed as gateways for new collaborative ventures.
In a parallel meeting on Thursday, Central Bank of Syria Governor Safwan Raslan held talks with the Saudi delegation. Both sides formally agreed to establish a joint Saudi-Syrian bank and create direct, standardized banking channels to facilitate capital movement for investment projects.
Abu Nyan stressed that the Council’s targeted projects in Syria are designed as long-term, sustainable investments aligned with the structural priorities and core needs of the Syrian economy.
Two MoUs
Syrian Minister of Transport Yaroub Badr and Saudi Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser signed two strategic memoranda of understanding at the Four Seasons Hotel in Damascus. The agreements establish a formal framework for cooperation in transport and logistics, with emphasis on land transport and railway modernization.
According to the state news agency SANA, the accords aim to strengthen institutional collaboration through capacity building, professional expertise exchange, and joint technical studies. These efforts are intended to rehabilitate Syria’s main land routes and railway networks, revitalizing commercial transit and regional trade flows through Syrian territory.
In a related announcement, Mouaz Najjar, Director of the General Corporation for Road Communications at the Ministry of Transport, confirmed the awarding of major rehabilitation and maintenance contracts for the Damascus–Palmyra and Palmyra–Deir ez-Zor highway corridors. The project also includes dual-carriageway expansions for both routes. The contract was jointly awarded to Saudi firm Al-Rawaf and Syrian firm Al-Kawati following a competitive tender evaluated on technical and economic criteria.
Najjar stated that the total contract value is approximately $300 million, with an execution timeline of 780 days. On-site work will begin immediately after formal ratification by the General Secretariat of the Presidency of the Council of Ministers.
The overhaul includes upgrading the existing Damascus–Palmyra road, constructing a parallel return corridor, and expanding the Palmyra–Deir ez-Zor arterial route into a modern dual carriageway. Najjar emphasized that the projects will adhere to rigorous technical standards tailored to future regional transport needs, increasing road capacity, improving traffic safety, and ensuring safer passage for civilian travelers and commercial freight.
This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.
