Kuwait's Zain eyes $1.5B mobile network in postwar Syria: What to know
The Kuwaiti company is planning to invest more than $1.5 billion in Syria after securing a license to operate there, Bloomberg reported Tuesday.
Kuwaiti telecoms firm Zain is reportedly securing a license to operate a mobile phone network in Syria, positioning it to become the first foreign telecom operator to enter the country's market since the country's 13-year civil war ended in 2024.
What happened: Zain, the company formerly known as Mobile Telecommunications Co., is planning to invest more than $1.5 billion in Syria after securing a license to operate there, Bloomberg reported Tuesday, citing a person familiar with the matter.
Zain will pay $747 million for a 20-year license, and the new operator will spend around $800 million to expand and update Syria’s mobile infrastructure, including adding 5G services, the source told the newswire.
Under the agreement, Zain will hold a 75% stake in the local operation, while Syria's sovereign wealth fund will own the remaining 25%, three sources familiar with the matter told Reuters. The Kuwaiti company will acquire the infrastructure, premises and equipment of MTN Syria, a firm that has operated in the country for more than 20 years. Before the deal, MTN Syria was 75% owned by South Africa’s MTN Group, with Saudi-owned conglomerate TeleInvest holding the remaining 25%.
Neither Zain nor Syria's Telecommunications Ministry commented on the deal.
Why it matters: Zain's investment will rank among the largest foreign investments announced since former President Bashar al-Assad was ousted in December 2024.
Telecommunications has emerged as one of the priority sectors for reconstruction. Banking, government services, logistics and other business activities depend on reliable mobile and internet services, and years of conflict left much of Syria's communications infrastructure damaged or outdated. The World Bank estimates the country's civil war caused around $216 billion in infrastructure damage.
The sector is already attracting strong regional interest. Reuters reported in June that Gulf telecom operators, including Qatar's Ooredoo, the UAE's e& and Saudi Arabia's STC Group, were competing for Syria's Silklink fiber-optic project. In February, STC was selected to develop the project, acquiring a 75% stake in an initiative valued at 3 billion Saudi riyals ($800 million) that will build a 4,500-kilometer (2,796-mile) fiber-optic network alongside data centers and submarine cable landing stations. The project marked one of the first major foreign investments in rebuilding Syria's telecommunications infrastructure.
Syria has also begun laying the groundwork for next-generation mobile services. In May 2025, MTN Syria and Syriatel conducted the country's first 5G trials in cooperation with national telecommunications authorities.
Know more: Zain's reported investment forms part of a broader wave of Gulf-backed reconstruction projects in Syria. Other examples include Qatar-based UCC Holding's $4 billion agreement to modernize Damascus International Airport and the UAE's National Investment Corporation's $2 billion commitment to develop a metro system in Damascus. Those deals were announced in August 2025 as part of the $14 billion package including 12 investment projects.
