chairman the Saudi-Syrian Business Council: Attracting 700 investors to drive sector growth in Syria
Abdullah Mando, CEO of the Saudi-Syrian Business Council, told Al-Eqtisadiah today that the number of applicants to participate in the council’s first forum exceeded 700 investors, from whom the most suitable were selected. They demonstrated their seriousness in developing investment plans worth between $50 and $100 million over specific timeframes. Some investors expressed their desire to invest more than $200 million over the next five years.
Mando emphasized that the convening of this forum represents a qualitative leap forward for the economic partnership between Saudi Arabia and Syria, noting that it brought together a number of Saudi investors with their Syrian counterparts, both those residing in Saudi Arabia and those coming from Syria specifically to participate.
He explained that the meeting aimed to introduce the council and its sectors of work, and to harness Saudi capabilities through distinguished businessmen to lead economic development in Syria. This was achieved by exchanging ideas and reviewing challenges, needs, and possible solutions in cooperation with the Syrian side.
He added that the council aims to make Riyadh the primary economic destination for investment in Syria for investors from around the world, including the United States, the UAE, China, and India, making Saudi Arabia a gateway of confidence to the Syrian market.
Last July, Saudi Investment Minister Khalid Al-Falih revealed the signing of 47 agreements to invest 24 billion riyals ($6.4 billion) in Syria, explaining that more than 500 Saudi companies are interested in exploring investment opportunities in Syria.
The Syrian capital then hosted a delegation comprising more than 100 private sector companies and 20 government agencies, “to launch a new era of investment between Saudi Arabia and Syria,” according to a statement issued by the Ministry of Investment.
Mando also revealed that the council’s first office will open within a month, operating around the clock to serve Saudi, Syrian, and international investors. He explained that the office will provide essential services, including information on investment opportunities, direct coordination with Syrian government agencies, on-the-ground project supervision, and connecting investors with consulting and executive firms.
He pointed out that one of the Council’s most prominent future projects is the launch of a global electronic portal that will provide investors around the world with easy access to the Council’s services and features, contributing to enhancing transparency and facilitating communication
