The Omani-Saudi Investment Forum and the Joint Saudi-Omani Business Council concluded their meetings and activities on Monday in Muscat, by introducing and promoting investment opportunities in the Kingdom and Sultanate.
In a major boost for Oman’s ambitious shrimp farming industry, Fisheries Development Oman (FDO) – the fisheries sector investment and development arm of the government – has signed a Memorandum of Understanding (MoU) with the National Aquaculture Group (Naqua) of Saudi Arabia centering on cooperation in the development of the former’s shrimp farming project at Al Jazer on the Sultanate’s Al Wusta coast.
The agreement was signed on the sidelines of the Omani-Saudi Investment Forum.
More so, several Saudi businessmen inked agreements and MoUs for services and researching future investment opportunities with a number of Omani companies.
Saudi Arabia’s Minister of Investment, Khalid al-Falih, and Oman’s Minister of Commerce, Industry and Investment Promotion, Qais al-Yousef discussed the horizons open for trade and investment cooperation between their two countries.
“On this visit, we anticipated a serious desire to build a growing partnership in the strategic economic sectors of interest to the two countries... We are fully prepared to advance this partnership and achieve integration,” said al-Yousef.
Al-Yousef said that the existing investment structures provide an attractive environment for promising projects. These factors affirm suitable opportunities for entrepreneurs and investors from Saudi Arabia to enter partnerships with their Omani counterparts.
Al-Yousef said that Oman and Saudi Arabia seek to achieve prosperity for their citizens and that this partnership, based on solid grounds of integrated action, constitutes an opportunity for the two countries’ people.
During the meeting, al-Falih and al-Yousef signed an MoU for cooperation on investment promotion.
The meeting also discussed means of promoting trade between the two countries and the formation of joint committees in the targeted sectors.
Al-Falih said that the development and transformational trends in the two countries, namely Saudi Arabia’s Vision 2030 and Oman’s Vision 2040, have provided a large space for joint strategic investment opportunities that benefit both states.
In a speech, al-Falih praised the “historic visit” of Sultan Haitham bin Tariq Al Said to Saudi Arabia and his meeting with Saudi King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman in July, SPA reported.
