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Economics & Development | Global Arab Network
Saudi Arabia, Syria Exploring Investment Opportunities
Global Arab Network - - Maha Karim
Thursday, 24 February 2011 21:34
Syria (Damascus) – Syria and Saudi Arabia on Thursday discussed the possibility of launching investment projects in different economic sectors, benefiting from the available investment opportunities and establishing partnerships between the Syrian and Saudi businessmen.

The discussions came during a meeting between General Director of the Syrian Investment Agency Ahmad Diab and a Saudi Businessmen delegation headed by Ibrahim al-Arnous.

Diab briefed the delegation on investment climate in Syria and the government's facilitations for licensing procedures in addition to the legislations regulating the establishment of projects.

He indicated to the Saudi investments in Syria and their contribution to the comprehensive development process in the country, inviting Saudi businessmen and investors to benefit from investment attractions available in Syria.

The possibility of establishing joint investment projects in the sectors of real estate, health and industry was also discussed.

For his part, Head of the Saudi side to the Syrian-Saudi Business Council Ibrahim al-Arnous said "investment climate in Syria encourages establishing investment projects," expressing the desire of Saudi businessmen and investors to increase investment volume between the two countries.

He added that the Syrian-Saudi Business Council aims at boosting bilateral trade and economic cooperation, indicating to the fact that there are more than 8, 000 Syrian investors in Saudi Arabia who work in different fields.

The number of the Saudi projects included according to the investment promotion laws in Syria has reached 22 projects in agriculture, industry, transport and health with an estimated total cost of SYP 68,051,279 (USD 1= SYP 47), in addition to 5 joint projects in manufacturing electrical materials, textiles and plastics in addition to producing vegetable oil and animal fats.

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