Saudi and Omani companies sign 13 memoranda of understanding related to joint work in promising economic sectors


On the sidelines of the visit of His Royal Highness Prince Muhammad bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense, to the Sultanate of Oman, and in embodiment of the growing economic relations, a group of leading Saudi companies and a number of companies owned by the Oman Investment Authority and the private sector signed 13 memoranda of understanding worth investments It amounts to (30) billion dollars.

These memorandums aim to enhance investments and joint work in specific projects within the promising economic sectors and to embody the vision of the leaderships 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, petrochemicals, manufacturing industries, and food industries Agriculture, transportation and logistics, information technology and financial technology, in addition to a number of qualitative investments in the Duqm region.

His Excellency the 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, which provide a fertile ground for establishing various investment partnerships between the Saudi and Omani business sectors.”

His Excellency clarified that the signing of memoranda of understanding 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 memoranda will contribute to strengthening the relations between the two brotherly countries, by supporting mutual investment relations, developing available investment opportunities and achieving economic integration between the two brotherly countries.

The signing of the memoranda of understanding comes as a result of the joint work of the two sides, represented by the Ministry of Investment, the Ministry of Commerce, Industry and Investment Promotion in the Sultanate of Oman, and the Oman Investment Authority.

The memoranda of understanding aim to enhance investments between the Kingdom and the Sultanate of Oman, and to explore opportunities for partnership in areas of interest to the two brotherly countries, thus enhancing efforts aimed at integration and cooperation between them.

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