Saudi Gazette report

RIYADH — Saudi Minister of Investment Khalid Al-Falih said that the Tadawul (Saudi Stock Exchange) has launched preparations for a comprehensive feasibility study on establishing and operating a Damascus Stock Exchange.

Speaking at the opening of the Saudi-Syrian roundtable in Riyadh on Monday, Al-Falih noted that there has been significant progress in several recently signed agreements and memorandums with Syria. He emphasized that the Ministry of Investment seeks to overcome economic challenges and obstacles in Syria.

Al-Falih said the ministry supports a private-sector proposal to establish a fund-of-funds for Saudi investments in Syria. "This is aimed to create a structured and well-governed investment framework to serve the shared objectives of both countries, as well as to boost the growth and sustainability of joint investments at an accelerated pace, and deliver exceptional investment outcomes with financing volumes that meet required needs," he said.

Al-Falih said that the real estate sector projects signed during the Saudi-Syrian forum have entered the phase of implementation and expressed hope to see them materialize soon.

The minister emphasized Saudi Arabia and Syria are working to establish a safe and sustainable investment environment that supports investment cooperation and enhances confidence between investors in both countries.