Syria and Saudi Arabia announced in Damascus on Thursday that they had signed 47 investment agreements worth more than 5 billion euros, a significant step toward rebuilding Syria's war-ravaged economy.
The agreements signed at the Syrian-Saudi Investment Forum cover a variety of sectors, including real estate, telecommunications and finance.
Planned initiatives include housing construction, reconstruction of war-affected areas, tourism development, as well as the creation of medical and entertainment facilities, skyscrapers and three new cement factories.
Syrian Information Minister Hamza al-Mustafa noted that approximately 50,000 direct and 150,000 indirect jobs are expected to be created through these deals.
Saudi Arabia has been actively supporting the interim Syrian government led by former rebel commander President Ahmed al-Shara'a since the toppling of the previous president, Bashar al-Assad, in a swift rebel offensive.
The country faces serious economic and social challenges. In 2017, the United Nations estimated that rebuilding Syria after years of civil conflict would cost at least $250 billion. Some experts now say that figure could reach at least $400 billion.
The Saudi deals have provided political support for Syria's interim government as the country grapples with a new round of sectarian violence that erupted in the southern province of As-Suwayda earlier this month.
On July 13, clashes broke out between Sunni Muslim Bedouin clans and armed militias of the Druze religious minority, with government security forces intervening to restore order but ultimately siding with the Bedouins.
Security forces allegedly killed Druze civilians and looted and burned homes. In response, armed Druze groups began attacking Bedouin communities.
Israel also intervened, striking government troop convoys and the Syrian Defense Ministry headquarters in Damascus, which Israeli officials said was done to protect the Druze religious minority.
Hundreds have died and more than 130,000 people have been displaced, according to the UN. The fighting has ended after a ceasefire was declared, but tensions remain high and violence continues to undermine the trust of religious minorities in the new government.
Sourse: breakingnews.ie
