Companies in Saudi and Oman have inked 13 agreements worth $30 billion.
The memorandums of understanding (MoUs) were signed by a group of “leading Saudi companies” and “companies owned by the Oman Investment Authority and the private sector”, according to an announcement by the state-run Saudi Press Agency.
Although no specific details were given, the move was made towards “enhancing mutual investments” in energy, renewable energy, health care, pharmaceutical industries, real estate development, tourism, as well as petrochemicals. It also includes manufacturing industries, food and agriculture industries, transportation and logistics, information technology and financial technology, in addition to “a number of qualitative investments” in the Duqm region.
Saudi Minister of Investment, Khalid bin Abdulaziz Al-Falih, said: “The Kingdom of Saudi Arabia and the Sultanate of Oman are full of promising investment opportunities that provide a fertile ground for establishing various investment partnerships between the Saudi and Omani business sectors.”
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