Saudi Investment Minister Khalid Al-Falih announced Thursday that 47 agreements and memoranda of understanding worth 24 billion Saudi riyals (approximately $6.4 billion) will be signed during the first Saudi-Syrian Investment Forum held at the People’s Palace in Damascus, according to Syria’s official news agency SANA.

Speaking at the forum’s opening, Al-Falih said the deals span various sectors, including a commercial project in Homs and the establishment of three cement factories, underscoring Riyadh’s commitment to deepening economic ties with Syria.

The forum gathers representatives from over 20 government entities and 100 private-sector companies from both countries, signaling a significant turning point in Saudi-Syrian economic relations.