Wall Street Closing    stc Launches Center3 to Enhance Digital Economy Growth in Saudi Arabia    Saudi Arabia on the World Heritage Map    Asian Shares Rise    Saudi Arabia's Trojena to host 2029 Asian Winter Games    SFDA wins Prism Award for applying practices to enhance HR leadership skills    IMF Chief: Saudi economy a bright spot amid global crises MoU inked to establish IMF regional office in Riyadh    MEP, GASTAT sign MoU to enhance use of data in development of economic policies    Elon Musk under fire for inflammatory Ukraine Twitter comments    North Korea fires ballistic missile over Japan    Ukraine tank breakthrough in south toward Kherson    Danish queen 'sorry' after stripping grandchildren's titles    Saudi National Music Band to perform in Paris Friday    Riyadh symposium underscores need to globalize traditional Saudi dish Jareesh    Weather Forecast for Tuesday    Five International Financial Institutions Join the Primary Dealers Program of the Government's Local Debt Instruments    OIC Secretary General Receives Kazakh Consul in Jeddah    Chairman of Board of Directors of Saudi Esports Federation Highlights the National Gaming and Esports Strategy    Participation of King Abdulaziz Royal Reserve at ADIHEX 2022 in Abu Dhabi Concluded    KSrelief Distributes 455 Food Baskets in Khartoum State, Sudan    Saudi Arabia retains its seat in ITU Council by international consensus    Minister of Human Resources and Social Development Patronizes 5th International Conference on Occupational Safety and Health    RCU launches Safar art exhibition at AlUla airport    Saudi Stock Exchange Main Index Ends Trading Higher at 11,607.96 Points    Fans 'died in the arms' of players in Indonesia stadium crush    Fans of Sydney United 58 condemned for Nazi salutes during Australia Cup final    Saudi Arabia to host World Petroleum Congress in 2026    King, Crown Prince congratulate German president on Unity Day    Tadawul All Share Index Decreases by 0.79%, Equity Market Capitalization Reaches SAR 10,832.85 Billion at End of 1st Nine Months 2022    Al-Manea: Selling gold in installments is not permissible    174 dead in Indonesian football stadium crush    15 cups of Saudi coffee in a day are enough!    Riyadh hosts first Saudi Games on Oct. 27    19 women, 2 men qualify as Kingdom's first yogasana referees    Movies return to Kashmir with Hrithik Roshan-starrer    Islamic Minister Al-Sheikh: Juristic judgment catalyst to salvage Islamic Ummah    Culinary Arts Commission Registers 13 Foods on Slow Food List of Endangered Food    72% of Children Globally have been Victims of Cyber Threats    Saudi National Football Team Continues Preparations for Friendly Match against Ecuador    Saudi Futsal Team Beats San Marino, Wins Silver in Croatian International Championship    During 2nd Global AI Summit.. AI-powered Early Breast Cancer Detection Program Launched    Triple talaq: India Muslim women in limbo after instant divorce ruling    Film Commission Reviews Film Industry Prospects in Saudi Arabia at Venice International Film Festival    Saudi national volleyball team loses to Kyrgyzstan in Asian Challenge Cup final    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    Pilgrims Perform Dhuhr and Asr Prayers at Arafat Holy Site    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Saudi-Omani Investment Forum Kicks off in Oman
Published in Saudi Press Agency on 30 - 08 - 2021

The Saudi-Omani Investment Forum kicked off in Muscat today with the participation of Saudi Investment Minister Eng. Khalid bin Abdulaziz Al-Falih, Omani Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al-Yousef, and Chairman of the Omani Chamber of Commerce and Industry Redha bin Jumah Al-Saleh.
Eng. Al-Falih delivered a speech, saying: "There is no doubt that our two countries, like others in the world, are living and developing under the same accelerating circumstances and changes that the entire world is facing, and the two countries are witnessing speeding changes in the economic factors and relevant diversification in the economic resources, reengineering the global supply chains, drastic changes in the energy fields and their resources and factors related to protecting the environment and facing the climate change, growing reliance on smart technologies, and new circumstances imposed on the world by the need to live with the coronavirus (COVID-19) pandemic that forced world countries to think and plan for the post-pandemic era".
The minister also noted that the development and transformation trends in the two countries, mainly the Saudi Vision 2030 and Oman Vision 2040, have provided a greater area to create several joint strategic, qualitative investment opportunities that can benefit from strategic characteristics of the two countries, including the natural resources, the distinguished demographic structures of the Kingdom of Saudi Arabia and Oman, the strategic location that makes the main cargo routes and logistic services capabilities in them of big importance, and working on supporting and developing these opportunities and realizing them through partnership and cooperation between the public and private sectors of the two sides.
He also stressed that the Kingdom of Saudi Arabia and Sultanate of Oman are full of promising investment opportunities that provide a fertile ground to establish diversified investment partnerships between the Saudi and Omani business sectors, especially that the targeted investment volume under the Saudi Vision 2030 reaches 12 trillion riyals, while Omani Vision 2040 is full of ambitious targets, such as increasing the foreign investment percentage to the GDP to 10%, and increasing the contribution of non-oil sectors to the GDP to more than 90%.
Eng. Al-Falih also pointed out that there should be action after this visit and these meetings to follow up on several important subjects, such as identifying promising strategic sectors in the two countries through which integration can be reached between the two economies, reviewing investment opportunities with high profitability and ready for execution, which can be classified as quick gains that enhance confidence and support our breakthrough at the medium and long terms, creating an investment-attracting environment through developing empowering legislation, overcoming obstacles that might face investors, and creating action channels and partnership between private sector institutions in the two countries, including the joint business council, under the umbrella of chamber councils between the two countries.
For his part, Omani Minister of Commerce, Industry and Investment Promotion said that attractive competitive factors, the stimulus investment environment and promising projects are all factors that stress that there is a timely opportunity for businesspeople and investors from the Kingdom of Saudi Arabia to start their investments in the Sultanate of Oman, engage in partnerships with their Omani counterparts, and build a growing partnership in strategic economic sectors that interest both countries.
Al-Yousef also said that: "We, for our part, are proud to offer all facilities and services for all Saudi investors, where Saudi investors receive a reciprocal treatment to that Omani investors receive, and we will be keen to offer all types of support and cooperation to speed up investment and commercial work between the two brotherly countries, and we are fully ready to offer our services to any interested investor individually and privately".
Meanwhile, Al-Saleh said that the forum aims at enhancing economic and commercial cooperation between the public and private sectors of the two countries, developing commercial ties, getting acquainted with expertise, exchanging expertise, intensifying efforts to create special commercial and economic partnerships in the targeted sectors in the national visions of our two brotherly countries: Oman Vision 2040 and Saudi Vision 2030.
During the meeting, the Kingdom of Saudi Arabia and Sultanate of Oman signed a memorandum of understanding for cooperation in encouraging investment, where the agreement was signed by Eng. Al-Falih and Al-Yousef.
Saudi Ambassador to Oman Abdullah bin Saud Al-Enezi, Omani Ambassador to the Kingdom of Saudi Arabia Sayyid Faisal bin Turki Al-Said, and leading figures from the public and private sectors and senior businesspeople in the two countries attended the inauguration of the forum.

Clic here to read the story from its source.