Arab News | Saudi Arabia, Syria study industrial cities to draw Kingdom’s investment

JEDDAH: Riyadh and Damascus are considering the establishment of industrial cities in Syria that include zones dedicated to Saudi investments. This move aims to support reconstruction efforts and attract industrial capital, according to Mohammed Yassin Hourieh, the Syrian assistant minister of economy and industry. 

Speaking to Al-Eqtisadiah on the sidelines of the SYRIX exhibition for Syrian industries in Jeddah, Hourieh stated that recent discussions have taken place with the Saudi Ministry of Industry and Mineral Resources and relevant Saudi industrial city authorities. These discussions included a technical workshop to explore the establishment of one or more industrial cities in Syria, including a proposed city in Aleppo. 

Project under study 

He added that the project remains under review by both sides, explaining that Syria is looking to create specialized industrial cities specifically targeting Saudi investments to bolster the country’s reconstruction efforts. 

The assistant minister noted that the sectors under consideration include industries linked to reconstruction — such as cement and cables — as well as opportunities in technology-related industries, in collaboration with the relevant Saudi industrial city entities. 

Recent agricultural investments 

According to Hourieh, Saudi investments have recently entered Syria across several sectors, including real estate development and industry, alongside new investments in the agricultural sector. 

He also highlighted the formation of the Syrian-Saudi Business Council, which is working on various investments and projects between the two nations, noting that the Council has recently been active in Syria and is involved in several major investment initiatives. 

Regarding the volume of trade between the two countries, Hourieh stated that while no final, publishable statistics are currently available, trade has increased significantly compared to the previous period; relevant authorities are expected to release the figures in due course. 

Rise in Saudi exports 

He added that Saudi exports to Syria have risen — particularly those related to reconstruction needs — while Syrian exports to the Saudi market include food products and other goods. 

Hourieh noted that trade activity faces certain logistical challenges that are currently being addressed, pointing out that Syria’s geographic location facilitates trade, with transit convoys passing through its territory toward Saudi Arabia. 

This industrial and commercial activity coincides with the SYRIX exhibition in Jeddah, which Hourieh described as the first exhibition dedicated to Syrian industries to be held outside Syria following the country’s liberation. 

He stated that the choice of Saudi Arabia to host the exhibition reflects the importance of economic relations between the two nations. 

Participation of 160 Syrian companies 

More than 160 Syrian companies from diverse sectors — including food processing, textiles, chemicals, and engineering — are participating in the exhibition. These companies aim to expand their presence in the Saudi market and establish new trade and investment partnerships. 

Mohammed Hamza, director general of International Exhibitions and Markets in Syria, told Al-Eqtisadiah that Syrian-Saudi cooperation in the exhibitions sector has seen growing activity, citing Saudi Arabia’s participation in the 62nd and 63rd editions of the Damascus International Fair.  

He added that Saudi participation in the most recent edition of the Damascus International Fair resulted in the signing of memoranda of understanding valued at over $500 million, expressing hope that these would translate into actual contracts and investments in the near future. 

Hamza noted that a number of Saudi investors have already begun implementing major projects in Syria, anticipating an expansion of economic and investment cooperation between the two countries in the coming period.