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Omani Saudi Business Forum Explores Joint Cooperation in Economic, Investment Fields


  Muscat, 6 Dec (ONA)—The Omani Saudi Business Forum, held here today, explored opportunities for joint cooperation between the two sides in economic and investment fields and scopes for forging agreements and strategic partnerships.

Eng. Ridha Jumaa Al Saleh, Chairman of Oman Chamber of Commerce and Industry (OCCI), said that “a manifestation of deep-rooted historical relations between Oman and Saudi Arabia and the keenness of their leaderships—His Majesty Sultan Haitham Bin Tarik and the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, requires us to intensify efforts to meet the aspirations of the two countries’ peoples, notably the need to speed up joint projects that realize economic diversification and other goals”.

Al Saleh added that the inauguration of the desert highway between Oman and Saudi Arabia will pave the way for a new era of partnership, provide more direct access for the flow of goods and services and, generally, spruce up economic and commercial activities.

Meanwhile, Ajlan Abdulaziz Al Ajlan, Chairman of the Council of Saudi Chambers of Commerce and Industry, said that the business forum “sets in pace a blessed approach espoused during 11 July 2021 Summit held in Neom in Saudi Arabia by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Majesty Sultan Haitham Bin Tarik. The summit provides for continuous cooperation towards the expansion of areas of cooperation in all fields and the utilization of available investment opportunities in the business sectors”.

Al Ajlan pointed out that Oman and Saudi Arabia share various potentials and common approaches for economic integration, among them Saudi Vision 2030 and Oman Vision 2040.

Meanwhile, Azan Al Busaidi of the Ministry of Commerce, Industry and Investment Promotion gave a presentation titled “Invest In Oman”, which portrayed the competitive business opportunities in Oman and how economic growth gives impetus to endeavors of the private sector and entrepreneurs.

Azan said that Oman’s business climate is motivating and open to the world.

The presentation also touched on the Economic Stimulus Plan and the incentives it provides, including customs exemptions for investors, as well as free trade agreements already signed by Oman and offering 50 opportunities for investment in the industry sector that stand at more than RO 207.8 million.

On his turn, Muneer Al Muneeri of Oman Investment Authority presented a paper featuring the potential of the Investment Fund of Infrastructure projects (Rakeeza).

In another paper, Dr. Badr Al Munthri spoke about Oman Telecommunications and Information Technology Company, while Eng. Khalid Al Mahrooqi presented a paper about Khazaen Economic City.

Nassir Said Al Hajiri, Head of the Saudi side at the Omani Saudi Business Council, presented a paper about the activities of Gulf Petrochemical Industries Company, stressing that the petrochemical industries sector provides a good alternative for crude oil export. In the meantime, Hakeem Al Rasheed spoke about the experiences of Alam Company in supporting digital progress in Saudi Arabia.



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