Saudi Arabia, Oman Discuss Industrial Cooperation, Investment Opportunities
Date
5/14/2023 8:23:13 AM
(MENAFN) Saudi Arabia and Oman are set to strengthen their bilateral ties in the industry and mining sectors, as their ministers met in Muscat to discuss industrial cooperation and investment opportunities. The Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, met with Omani Minister of Commerce, Industry, and Investment Promotion, Qais bin Mohammed Al-Yousef, to explore investment opportunities available within the framework of the Kingdom's Vision 2030 and Oman Vision 2040. The meeting aimed to forge a path of economic prosperity between the two nations.
During the meeting, the ministers discussed ways to improve collaboration in the industry and mining sectors. Alkhorayef also met with Ali ibn Masoud Al-Sunaidi, the president of Oman's General Authority for Special Economic Zones and Free Zone, to enhance cooperation in developing industrial and economic cities. The visit aimed to strengthen economic ties and explore opportunities for cooperation between the two countries.
The two ministers discussed investment opportunities in the industry and mining sectors, which are expected to benefit both countries. The meeting aimed to improve collaboration and explore investment opportunities within the framework of the two countries' visions for the future. The visit also included Alkhorayef's participation in the 50th meeting of the Industrial Cooperation Committee of the Gulf Cooperation Council.
In 2022, the Saudi Industrial Development Fund financed two joint projects with Oman, with a capital amounting to SR90.7 billion (USD24 billion). The projects aimed to strengthen economic ties between the two countries and promote economic growth in the industry and mining sectors. The Saudi minister's visit to Oman is part of his efforts to build partnerships in the mining sector and strengthen economic ties between Saudi Arabia and other countries.
The meeting between the Saudi and Omani ministers aimed to improve collaboration in the industry and mining sectors and explore investment opportunities. The two countries discussed investment opportunities within the framework of their respective visions for the future. The visit also included discussions on developing industrial and economic cities and participation in the Industrial Cooperation Committee of the Gulf Cooperation Council. The joint projects financed by the Saudi Industrial Development Fund in 2022 aimed to promote economic growth in the industry and mining sectors and strengthen economic ties between the two countries.
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