Syria’s Sharaa to Attend Investment Conference in Riyadh This Week

Syrian President Ahmed al-Sharaa is reported to be attending the annual Future Investment Initiative forum in Riyadh this week. The trip is seen as a significant step in Syria’s efforts to return to the international stage after 14 years of conflict. 

Sources, speaking on condition of anonymity, said Sharaa is expected to deliver a speech on Tuesday at Saudi Arabia’s main investment gathering. However, the Syrian presidency and Saudi officials did not respond to requests for comment. 

Having taken power from Assad 10 months ago, Sharaa has been conducting numerous foreign visits as part of his transitional government’s diplomatic push. These visits aim to rebuild relations with global actors that had distanced themselves from Syria during Assad’s rule. Saudi Arabia has played a decisive role in this process. 

In May, Crown Prince Mohammed bin Salman, Sharaa, and U.S. President Donald Trump met in Riyadh. Trump praised Sharaa during the meeting and stated that all U.S. sanctions on Syria would be lifted to help the country recover. 

According to World Bank estimates, Syria’s reconstruction will cost around $216 billion. Sharaa will address prominent figures from the worlds of business and politics at the event in Riyadh. 

Among the participants are Colombian President Gustavo Petro, as well as leading financial figures such as Larry Fink, Jamie Dimon, and Jane Fraser, who was recently appointed co-chair of the U.S.-Saudi Business Council. 

The conference also features important leaders from the technology and energy sectors, including Intel’s Lip-Bu Tan and Aramco President Amin Nasser. 

Sharaa Addresses Investors at Saudi Financial Summit 

Speaking at a major financial summit in Saudi Arabia on Wednesday, Sharaa said that Syria offers significant opportunities as a trade corridor. He noted that the country had attracted $28 billion in investments so far this year and aims for even more. “Our choice was to rebuild through investment, not through external aid,” Sharaa said. 

“Syria does not want to be a burden on anyone; we aim to rebuild our country with our own capabilities.” 

Only a few years ago, it would have been unimaginable for Sharaa to appear before such a global audience. Before the overthrow of Assad in 2024, Sharaa had been known as one of al-Qaeda’s commanders in Syria during the civil war. 

Sharaa Draws Attention From Admirers 

The new president met with key figures in Riyadh, including FIFA President Gianni Infantino, and took photos with many participants as he walked through the conference hall. 

The Syrian government is seeking investments beyond the existing commitments from Gulf states. Sharaa said they were holding serious investment negotiations with countries such as Kuwait and Bahrain. The World Bank estimates that rebuilding Syria will require around $216 billion. 

Sharaa stated that Syria would become a strategic passageway for goods, given the global disruptions in supply chains. He also assured investors that legal changes now allow for the largely unrestricted transfer of capital and profits abroad. 

Decision on U.S. Sanctions Approaching 

A Syrian delegation including the ministers of economy, finance, and telecommunications arrived in Riyadh earlier this week. 

In his speech, Sharaa referred to the conference’s theme, “the key to prosperity,” and emphasized that Saudi Arabia was “the key” for investment in Syria. The comment drew heavy applause from the audience and a visible smile from Crown Prince MbS. 

In July, Saudi Arabia pledged more than $6 billion in investments in Syria, most of which was allocated to infrastructure and real estate projects. The kingdom has been one of the strongest supporters of Sharaa, whose rise to power in December weakened Iran’s influence in Syria. 

Since becoming interim president, Sharaa has undertaken various diplomatic visits to normalize Syria’s international relations. During the May meeting in Riyadh, Trump promised full sanctions relief for Syria. 

Despite this promise and the broad exemptions currently granted, the toughest measures of the Caesar sanctions require congressional approval to be lifted. Although U.S. lawmakers hold differing views, a decision is expected later this year. Full sanctions removal is expected to significantly boost investor interest in Syria. 

REFERENCES 

Reuters. (2025, October 26). Syria’s Sharaa to attend Riyadh investment conference this week, sources say. https://www.reuters.com/world/middle-east/syrias-sharaa-attend-riyadh-investment-conference-this-week-sources-say-2025-10-26/

Azhari, T., & Saba, Y. (2025, October 29). Syria has attracted $28 billion in investments over the past 10 months, President Sharaa says. Reuters.https://www.reuters.com/world/middle-east/syria-has-attracted-28-billion-investments-past-10-months-president-sharaa-says-2025-10-29/