After the fall of Bashar al-Assad's dictatorial regime in Syria, Gulf countries are investing 'oil money' for the reconstruction of Syria. They seem to take advantage of the reduced influence of Iran to reshape the order in the Middle East.
The New York Times (NYT) reported on the 30th of last month (local time) that "Gulf countries are quickly supporting and investing in Syria after sensing a new opportunity to expand their influence in the Middle East following the sudden collapse of the Syrian dictatorship," adding that "governments and corporations from Gulf countries were among the first to help with Syria's reconstruction after the Assad regime was ousted."
In fact, in April, Saudi Arabia and Qatar agreed to pay off Syria's debt of $15 million (about 20.2 billion won) owed to the World Bank (WB). Syria has suffered extensive destruction of its social infrastructure due to 14 years of civil war, during which the World Bank suspended its operations in Syria. However, with the compensation from Saudi Arabia and Qatar, Syria can now secure funds for reconstruction.
With the help of Gulf countries, transportation in Syria is also being quickly restored. Last month, Flydubai, a low-cost airline headquartered in the United Arab Emirates (UAE), resumed flights to Syria. Additionally, Qatar began operating flights to Damascus again from January.
Furthermore, DP World, a global port operator based in Dubai, has signed a memorandum of understanding (MOU) worth $800 million (about 1 trillion won) with the Syrian government and is making initial investments for the development of Tartus, a strategic port in the Mediterranean. Tartus was home to a Russian naval base during the war.
The reason Gulf countries have stepped up support for Syria is due to the expectations that they can replace Iran's influence in Syria. Iran has been one of the main sponsors of the Assad regime, providing military and financial support for the regime's suppression of its citizens following the pro-democracy protests of the 2011 Arab Spring.
However, with the collapse of the Assad regime at the end of last year, Iran's influence in Syria has weakened, and the recent Israeli airstrikes have eliminated Iranian military leadership. Badr Al-Saif, a professor of history at Kuwait University, noted that "while the Syrian people are rebuilding their lives amidst the ruins, Gulf countries see an opportunity for 'regional order restructuring.'"
Moreover, after U.S. President Donald Trump promised to lift sanctions against Syria during his Middle East tour in May, investors from Gulf countries gained motivation and confidence to invest in Syria. In fact, President Trump issued an executive order last month to lift all sanctions against Syria effective July 1.
The fact that Ahmad al-Shara, the current president of the Syrian regime, spent his childhood in Syria has also had a positive impact. The NYT reported that "Saudi Crown Prince Mohammed bin Salman expects al-Shara to share a similar worldview with them," indicating that Saudi Arabia, which was a closed Islamic state during al-Shara's childhood, has now transformed into a more open society, and they hope Syria will change in a similar way.