Syrian President Ahmed al-Shalah Claims $28 Billion Investment in Reconstruction

Ahmed al-Shalah, the leader of Syria’s new government and a former jihadist known as “Abu Mohammed al-Jolani,” made headlines recently by claiming that his administration has successfully attracted $28 billion in investment for rebuilding efforts since assuming power in December.

Shalah previously led Hayat Tahrir al-Sham (HTS), a faction that split from al-Qaeda and has been in conflict with the regime of former leader Bashar al-Assad after the civil war erupted in Syria in 2011. After years of fighting among various factions, HTS achieved a significant victory in November by taking control of Aleppo. Soon afterward, on December 7, Assad and his family sought asylum in Moscow, with President Vladimir Putin offering refuge.

HTS has since transformed into the current Syrian government, appointing Shalah as president. He abandoned his nickname and has opted for a more Western attire, reflecting his new role. He frequently appears in public with First Lady Latifa Al Droubi, promoting initiatives like women’s education.

While Shalah has not entirely distanced himself from his past, he advocates for a government that leans more toward Islamism rather than secularism, considering Syria’s diverse religious demographic. He has indicated a priority on physical reconstruction of the nation before pursuing broader Islamic governance after decades of Alawite domination under Assad. Shalah has been visible at various international investment forums, pitching Syria as a viable investment opportunity.

At the recent 2025 Future Investment Initiative Conference in Saudi Arabia, Shalah touted the success of their funding efforts. “We revised Syria’s investment law, making it one of the best in the world, and within six months, we attracted investments worth $28 billion,” he stated, although he didn’t specify the exact sources of these funds. He did, however, express gratitude to the Saudi government for its support and encouragement to neighboring nations to contribute to reconstruction.

Shalah remarked, “Stability in Syria can yield immense benefits for the world,” referencing Syria’s historical significance as a trade route. He emphasized the nation’s diverse resources and the need for a multifaceted economy, not reliant on a single sector.

“We will rebuild everything that was lost. My confidence lies in the Syrian people, who have faced immense hardship and emerged resilient. We aim to finance Syria’s recovery through investment, not merely through aid,” he promised.

This message aligns with earlier declarations made by Shalah at significant international gatherings. At the United Nations General Assembly last month, he was a notable voice advocating for the lifting of sanctions that impede the Syrian population. “With the new investment law, major companies are beginning to engage with the Syrian market,” he stated.

He praised the Saudi government as a key supporter of Syria’s growth and progress, mentioning the long-term vision presented by Saudi Crown Prince Mohammed bin Salman. The Crown Prince has been among the first global leaders to acknowledge Shalah and has provided substantial humanitarian assistance, including a recent grant of crude oil to help recovery efforts.

In May, Shalah had a chance meeting with US President Donald Trump, who commented positively on him, noting Shalah’s strong presence and organizational ability. Trump mentioned a potential lifting of sanctions against Syria due to Shalah’s efforts during the war against Assad and his allies.

Although tensions with Iran remain, Shalah has been open to various proposals from Russia. He recently visited Moscow to discuss future relations with Putin, centering on maintaining Russian military presence in Syria, particularly in Latakia.

In another development, it was reported that Russia has resumed military flights to Syria, signifying a step toward renewing ties between the two nations.