Syria and Saudi Arabia signed deals Saturday that include a joint airline and a $1-billion project to develop telecommunications, officials said, as Syria seeks to rebuild after years of war.
Saudi Arabia has been a major backer of Syria's Islamist authorities who took power after toppling longtime ruler Bashar al-Assad in December 2024.
The new authorities in Damascus have worked to attract investment and have signed major agreements with several companies and governments, including Saudi Arabia and other Gulf states.
Syrian Investment Authority chief Talal al-Hilali announced a series of deals including "a low-cost Syrian-Saudi airline aimed at strengthening regional and international air links".
The agreement also includes the development of a new international airport in the northern city of Aleppo, and redeveloping the existing facility.
Hilali also announced an agreement for a project called SilkLink to develop Syria's "telecommunications infrastructure and digital connectivity".
Syrian Telecommunications Minister Abdulsalam Haykal told the signing ceremony that the project would be implemented "with an investment of around $1 billion".
For decades, Syria was unable to secure significant investments because of Assad-era sanctions.
