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Saudi Arabia and Syria signed five agreements worth $5.3 billion in Damascus to enhance economic cooperation, focusing on aviation, telecommunications, and water sectors. The agreements include the establishment of the Elaf Investment Fund for major projects and the launch of a new low-cost airline, Nas Syria.

Key projects involve upgrading telecommunications infrastructure, developing digital connectivity, and constructing a seawater desalination plant. The total Saudi investments in Syria are now approximately 60 billion riyals ($16 billion), reflecting a commitment to support Syria's recovery and stability.