Syria and Saudi Arabia sign joint airline, telecoms cooperation deals

Syria & Saudi Arabia Syria and Saudi Arabia on Saturday signed new agreements covering a joint airline venture and a $1 billion telecommunications development project, officials confirmed, as Damascus steps up efforts to rebuild after years of conflict.

Saudi Arabia has been one of the key supporters of Syria’s Islamist-led leadership, which assumed power after the removal of longtime ruler Bashar al-Assad in December 2024.

Since taking office, the new authorities in Damascus have focused on attracting foreign investment, sealing major deals with regional partners, including Saudi Arabia and other Gulf nations.

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”.

Syria and Saudi Arabia sign deals including a joint airline and a $1 billion telecommunications project. pic.twitter.com/Cv6Q5cfpzq

— Al Arabiya English (@AlArabiya_Eng) February 7, 2026

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.

But the United States fully removed its remaining sanctions on Damascus late last year, paving the way for the full return of investments.

Syria and Saudi Arabia also inked an agreement on water desalination and development cooperation on Saturday.

At the ceremony, Saudi Investment Minister Khalid Al-Falih announced the launch of an investment fund for “major projects in Syria with the participation of the (Saudi) private sector”.

The deals are part of “building a strategic partnership” between the two countries, he said.

Syria’s Hilali said the agreements targeted “vital sectors that impact people’s lives and form essential pillars for rebuilding the Syrian economy”.

Syria has begun the mammoth task of trying to rebuild its shattered infrastructure and economy.

In July last year, Riyadh signed investment and partnership deals with Damascus valued at $6.4 billion to help rebuild the country’s infrastructure, telecommunications and other major sectors.

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A month later, Syria signed agreements worth more than $14 billion, including investments in Damascus airport and other transport and real estate projects.

This week, Syria signed a preliminary deal with US energy giant Chevron and Qatari firm Power International to explore for oil and gas offshore.