Saudi Arabia has shown interest in developing an industrial zone in Oman as officials from the two countries met last week in Riyadh discussing investment opportunities in both the countries.
The two sides discussed studying the possibility of establishing a Saudi industrial zone in Oman, so that the Saudi side could develop, operate and manage the zone, and build logistical infrastructure to transport goods between the Saudi and Omani special economic zones. ‘This will benefit both the countries, and help exchange experiences in the field of development and supervision in the special economic zones,’ the Saudi state new agency SPA said.
The Omani delegation, led by H E Aseela Salim al Samsamiyah, Undersecretary for Investment Promotion in the Ministry of Commerce, Industry and Investment Promotion, visited Saudi Arabia last week, and discussed various investment opportunities in real estate, industry, tourism, fisheries, renewable energy and petrochemicals sectors to the tune of RO1.5bn.
Nabil Khoja, secretary general of Special Economic Cities and Zones Authority, Saudi Arabia, met H E Aseela and her accompanying delegation in Riyadh and discussed prospects for cooperation and opportunities in the special economic zones.
H E Aseela informed that the visit aimed to achieve integration between Saudi Vision 2030 and Oman Vision 2040. The two share many goals, including economic diversification and the formation of strong economic entities and companies to support the respective economies.