Oman, Saudi Arabia target enhanced cooperation across multiple sectors

Muscat: Senior officials from Oman and Saudi Arabia discussed prospects of economic cooperation and reviewed investment opportunities available in several vital sectors of the Sultanate through free and economic zones.

The visit of the Saudi delegation was aimed to further consolidate economic relations, mutual investments and accelerate bilateral trade between the two brotherly countries.

On Tuesday, the Saudi Arabia’s Investment Minister, Eng. Khalid bin Abdulaziz Al-Falih, and his accompanying delegation visited the Special Economic Zone at Duqm (SEZD).

Upon their arrival at Duqm Airport, the Saudi delegation was received by Eng. Ahmed bin Hassan Al-Theeb, Vice Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), and a number of officials from the management of SEZD and the companies operating in the zone.

The visit also included a number of presentations on the capabilities of the zone and its vital existing and ongoing projects and basic facilities.

The delegation also toured a number of projects in the zone including Ras Markaz crude oil storage project, the multi-purpose fishing port, Port of Duqm and the Dry Dock.

Eng. Yahiya bin Khamis Al Zadjali, in-charge of managing operations of the Special Economic Zone at Duqm, said that the visit to the zone has great importance in consolidating economic relations between the two brotherly countries.

They explored investment opportunities and reviewed projects of the Special Economic Zone, which contributes in attracting investment to these projects and boost businesses in the field of transportation and import of goods through Port of Duqm.

Port of Duqm’s strategic location will allow investors to benefit from quick and easy access to global market, Al Zadjali said, adding that this visit will open horizons for Saudi investors to benefit from various investment opportunities available in different sectors such as oil, petrochemicals, logistics, fisheries, tourism, mining and other sectors.

Also it will strengthen partnership and integration principle to achieve common national objectives of the two countries future vision. The three-day visit by the delegation of Saudi Arabia to the Sultanate, which concluded on Tuesday, included several joint meetings.

These include among others the Omani-Saudi Business Council which was held on the first day, the Omani-Saudi Investment Forum on the second day, which comprised an overview of several projects in industrial zones and free zones.

Earlier, Dr Ali Amer Al Shidhani, Communications and Information Technology Undersecretary received Dr Ibrahim Mahmoud Babelli, Deputy Minister for Planning and Vision Realisation in the Kingdom of Saudi Arabia (KSA).

The two sides reviewed spheres of cooperation in the digital economy field and the joint projects and initiatives. They also explored means of benefiting from the experiences of the two countries in the digital economy field.

The two sides reviewed spheres of cooperation in the digital economy field and the joint projects and initiatives.

This visit was organised by the Ministry of Commerce, Industry and Investment Promotion (MoCIIP) in cooperation with Oman Investment Authority (OIA), the Oman Chamber of Commerce and Industry and (OCCI) and the Public Authority for Special Economic Zones and Free Zones.