Damascus holds first investment conference since Assad overthrow

Investors from Saudi Arabia, Turkey and across the Middle East are in Syria this week for the war-weary country’s first major economic conference since the overthrow of former President Bashar Assad.

The new Syrian leader, President Ahmad al-Sharaa, opened the 62nd Damascus International Fair on Wednesday night, presenting the forum as an opportunity for rebuilding economic links with foreign partners after years of conflict.

Some 800 foreign investors, corporate executives and senior government officials attended the event, which marked the return of several Gulf states to the Syrian market.

“Since the moment of liberation, the new Syria has made security, stability and economic development its priorities,” al-Sharaa said in his address, highlighting reforms in investment, banking and infrastructure aimed at drawing back foreign capital.

Saudi Assistant Minister of Investment Abdullah al-Dubaikhi, representing King Salman and Crown Prince Mohammed bin Salman, said Riyadh is implementing previously signed agreements worth about $6.4 billion and expects further deals, particularly in energy.