Syrian President Ahmed al-Sharaa, once known as jihadist warlord Abu Mohammed al-Jolani, announced this week that Syria has attracted $28 billion in investment since his government took power in December. The announcement came during a speech at the Saudi Future Investment Initiative Conference in Riyadh, where the former leader of Hayat Tahrir al-Sham (HTS)—an al-Qaeda offshoot—highlighted a new chapter in Syrian governance, backed by sweeping economic reforms and rising international support.
Sharaa came to power after his HTS forces captured Aleppo in late 2025, leading to the ousting of longtime dictator Bashar al-Assad, who fled to Moscow under Russian protection. HTS has since rebranded itself as Syria’s de facto government, with Sharaa discarding his nom de guerre and adopting a statesman-like image. Though now dressed in Western business suits and accompanied by his wife in public, Sharaa continues to champion an Islamist vision for Syria, albeit with an initial focus on rebuilding the war-torn nation.
In his speech, Sharaa claimed that Syria had amended its investment laws to become “among the best in the world,” which has resulted in billions in pledged investments. Though he did not specify all sources, he singled out Saudi Arabia for its role in advocating for Syrian reconstruction, praising Crown Prince Mohammed bin Salman for his regional vision and direct support.
The Saudi government has supplied Syria with humanitarian aid and a recent donation of 1.65 million barrels of crude oil. Saudi backing has also helped legitimize Sharaa on the global stage, culminating in a personal meeting with President Donald Trump in May. Trump, impressed by Sharaa’s military background and leadership, praised him as a “tough guy” and announced the lifting of U.S. sanctions originally imposed on the Assad regime.
Sharaa is pushing Syria as a prime candidate for investment, promoting the country’s strategic location, untapped resources, and historic trade significance. “We want to rebuild Syria through investment, not through aid and assistance,” he said.
His emergence marks a dramatic geopolitical shift. As a former jihadist leader now embraced by Western allies, Sharaa’s transformation is striking. The U.S., once an opponent of HTS, now sees strategic value in Sharaa’s anti-Iranian stance and potential to stabilize the region without Tehran’s influence. While tensions with Iran remain high, Sharaa has made overtures to Russia, meeting with Vladimir Putin in Moscow this month to negotiate the continued Russian military presence in Syria.
Russia, which backed Assad during the civil war, has resumed military flights to Syria, signaling renewed cooperation under the new regime. Putin reportedly aims to maintain access to strategic bases in Latakia, critical to Russia’s regional operations.
Sharaa’s rise from militant commander to president, and now global investment pitchman, reflects Syria’s chaotic transformation after more than a decade of war. His growing acceptance on the world stage—especially by leaders like Trump and bin Salman—signals a new and controversial era in Middle East politics.
