Oman, Saudi Arabia discuss prospects to enhance economic cooperation

Oman, Saudi Arabia discuss prospects for enhancing economic cooperation

Riyadh, The Gulf Observer: Prospects for enhancing economic cooperation and investment opportunities available in economic zones, free zones and industrial cities in the Sultanate of Oman were discussed in Riyadh on Tuesday.

The meeting, which took place at the premises of the Federation of Saudi Chambers, brought together a delegation from Oman’s economic zones, free zones and industrial cities, members of the Saudi-Omani Business Council and representatives of major companies and businessmen in the Kingdom of Saudi Arabia.

The meeting highlighted the most important incentives offered to investors by the Public Authority for Special Economic Zones and Free Zones (OPAZ). The discussion covered projects in food and fisheries industries, pharmaceutical industries, technology, logistics, renewable energy, petrochemicals and the added-value projects.

The meeting included visual presentations by Saudi Arabia’s Ministry of Investment and OPAZ on economic indicators and investment opportunities available in a number of economic sectors.

The Omani delegation also held meetings with representatives of Saudi companies operating in areas of industry, real estate development, imports, clean energy projects, logistics services and ground handling.

During the meetings, the two sides considered ways to benefit from the expertise of those companies in establishing similar projects in economic and free zones and industrial cities. The proposals covered entering into the purchase and ownership of some Omani companies operating in the same sectors.