Saudi Arabia and Oman have signed 13 investment Memoranda of Understanding (MoU) between the public and private sectors of the two nations encompassing diverse sectors. The agreements were inked at the four-day Saudi-Omani Investment Forum held in Riyadh, under the theme ‘Partnership and Integration’.
The agreements are worth more than SAR1 billion and cover oil and petrochemical storage, renewable energy and green hydrogen, mining investment, logistics and transportation, entrepreneurship, automation of research, development and innovation, fisheries, supporting marine industries, tourism and travel, and solar energy projects.
The agreements were signed at the Saudi-Omani Investment Forum being held in Riyadh
The forum also included bilateral sessions and talks between private sector representatives and key Saudi and Omani corporations to discuss elements of collaboration and investment potential.
During his opening remarks at the forum, Saudi Investment Minister Khalid Al-Falih emphasized Saudi Arabia’s desire to strengthen and grow investment and commercial ties with Oman.
Al-Falih stated that the two countries’ strong ties have pushed the leadership of the two ‘brotherly peoples’ toward realizing development integration, the top of which are the Saudi Vision 2030 and Oman Vision 2040, recognizing that both sides seek to achieve the ambitious goals by empowering the private sector and companies, facilitating doing business, and removing all obstacles in order to create more investment opportunities.
The forum also included bilateral sessions and talks between private sector representatives and key Saudi and Omani corporations
In addition, he underlined the magnitude and vitality of the private sector in driving development in the two countries, contributing to the activation of the Saudi-Omani partnership, and performing a significant role in the success of the forum and exhibition by providing ideas and creativity to the expansion of investment and trade.