Muscat (UNA-OIC) – A group of leading Saudi companies and a number of companies owned by the Oman Investment Authority (OIA) and the private sector signed 13 memoranda of understanding (MoUs) worth $30 billion.
This came on the sidelines of the visit of Saudi Crown Prince Mohammed bin Salman bin Abdulaziz, deputy premier and defense minister, to Oman, and in embodiment of the growing economic relations between the two countries.
The MoUs aim to enhance investments and joint work in specific projects within the promising economic sectors and to embody the vision of the leadership of the two brotherly countries towards enhancing mutual investments in areas of common interest, including energy, renewable energy, health care, pharmaceutical industries, real estate development, tourism, as well as petrochemicals.
These projects also include manufacturing industries, food and agriculture industries, transportation and logistics, information technology, and financial technology, in addition to a number of qualitative investments in the Duqm region.
Saudi Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih said on this occasion: “The Kingdom of Saudi Arabia and the Sultanate of Oman are full of promising investment opportunities that provide a fertile ground for establishing various investment partnerships between the Saudi and Omani business sectors.”
Al-Falih clarified that the signing of MoUs will enhance investments in a number of fields, which will be reflected in the development of services and the achievement of the aspirations of the Kingdom’s Vision 2030 and Oman’s Vision 2040.
He stressed that these agreements will contribute to strengthening the relations between the two brotherly countries, by supporting mutual investment relations, developing available investment opportunities as well as achieving economic integration between the two brotherly countries.
The signing of the MoUs comes as a result of the joint work of the two sides, represented by the Saudi Ministry of Investment, and Oman’s Ministry of Commerce, Industry and Investment Promotion, and the Oman Investment Authority.
