Oman-Saudi Business Forum aims to boost bilateral trade and investment

October 15, 2018

The Oman-Saudi Business Forum on Sunday reviewed the investment opportunities in the sultanate in the sectors of transport, ports, tourism, fish farming, mining, and oil and gas.

The forum, which was organised by the State General Reserve Fund (SGRF), also discussed the prospects of increasing bilateral trade and investment between Oman and Saudi Arabia. The opening ceremony was held under the patronage of H E Sultan bin Salim al Habsi, deputy chairman of the board of governors of the Central Bank of Oman.

In his speech, H E Habsi pointed out that the trade between the two countries reached US$2.2bn in 2017, reflecting the depth of the existing partnership and its future prospects. He added that Oman's government offers many incentives and facilities to encourage joint investments and attract more foreign investments.

Eng Ibrahim bin Abdul Rahman al Omar, governor of the Saudi Arabian General Investment Authority, said that there are opportunities to further develop and promote the current areas of cooperation between the two countries. He said the forum is a continuation of the meetings held between the two sides during the past periods to introduce the Saudi Arabain private sector to the most important investment and commercial opportunities in the sultanate and discuss means of facilitating the entry of Saudi Arabian companies to Oman.

H E Abdulsalam bin Mohammed al Murshidi, CEO of SGRF, said that the opening of a direct land route between Oman and Saudi Arabia, which is expected to open by the end of this year or early next year, will increase trade exchange between the two countries.

The forum, which was held at Kempinski Hotel Muscat, included a business-to-business meeting between Omani and Saudi businessmen.

 

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