Syria has attracted approximately $28 billion in investments over the past ten months, according to President Ahmed al-Sharaa, who announced the figures at the Future Investment Initiative (FII) in Riyadh.

The landmark event was attended by Saudi Crown Prince Mohammed bin Salman and highlighted Syria’s renewed economic prospects following years of devastating conflict.

Al-Sharaa emphasized that Syria has recently amended its investment laws, facilitating foreign investors’ ability to transfer funds out of the country, signaling a more welcoming environment for international capital. “The opportunity in Syria is enormous, and there’s room for everyone in Syria,” he stated, aiming to reassure potential investors amidst the country’s ongoing reconstruction.

The war-torn nation is undertaking a monumental task to rebuild its shattered economy after over a decade of conflict that has left tens of thousands dead, millions displaced, and entire cities in ruins. The World Bank estimates the cost of reconstruction at a conservative figure of $216 billion.

Recent political developments have seen Saudi Arabia deepen its engagement with Syria’s new leadership following the overthrow of Bashar Assad last year. Riyadh has moved to strengthen ties, part of a broader regional strategy to bring Syria closer to the Arab fold, long dominated by Iran and Russia. In May, Crown Prince Mohammed bin Salman persuaded U.S. President Donald Trump to pledge the lifting of sanctions on Syria, further signaling a shift in diplomatic stance.

Saudi Arabia has utilized its oil wealth to support reconstruction efforts, signing $6.4 billion in investment and partnership deals with Syria in July.

Additionally, in April, Riyadh and Qatar pledged $15 million to help settle Syria’s debt to the World Bank. These initiatives highlight the kingdom’s commitment to playing a pivotal role in Syria’s economic revival amidst ongoing geopolitical shifts.