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Oman, Saudi meet discusses investment opportunities in North Al Sharqiyah

Omani and Saudi entrepreneurs discussed economic and trade investment opportunities between the two countries during a meeting held in North al Sharqiyah Governorate, organised by the Office of the Governor of North al Sharqiyah and the branch of the Oman Chamber of Commerce and Industry in the governorate.


The meeting took place as part of a visit by a government and trade delegation from Saudi Arabia to the Sultanate of Oman, with the participation of over a hundred entrepreneurs and owners of small and medium-sized enterprises from both brotherly countries.


Mahmoud bin Yahya al Thuhli, the Governor of North al Sharqiyah Governorate, stated that the governorate possesses several qualities that qualify it to be an important commercial, economic, and tourist centre.


He affirmed that the Omani government is committed to providing a suitable investment environment in order to achieve the goals of Oman Vision 2040, and to ensure safe investment and the provision of promising investment opportunities in various economic fields.

On his part, Mohammed bin Abdullah al Murshid, the First Deputy Chairman of the Riyadh Chamber of Commerce’s Board of Directors and the head of the Saudi delegation, stated that the trade relations between the Sultanate of Oman and the Kingdom of Saudi Arabia are longstanding and have witnessed significant growth rates.


He mentioned that the volume of trade between the two brotherly countries reached over 31 billion Saudi riyals up until October of last year, compared to around 4.8 billion Saudi riyals in 2010.


This indicates the great interest that the leadership of both countries attach to this relationship, and confirms the efforts to increase investment opportunities in accordance with the goals of Vision 2040 in Oman and Vision 2030 in Saudi Arabia, through the establishment of economic and trade partnerships that meet the aspirations of expanding the trade and investment base between the two countries.


The meeting included the presentation of several working papers, which discussed investment opportunities in trade sectors, as well as showcasing successful projects in the northeastern province. It also included bilateral sessions between entrepreneurs from both countries, where they discussed investment opportunities and the exchange of trade and economic activities related to their business in both the Sultanate of Oman and the Kingdom of Saudi Arabia.