Saudi Press

Saudi Arabia and the world
Monday, Mar 04, 2024

Saudi Arabia explores industrial and investment opportunities with Oman 

Saudi Arabia explores industrial and investment opportunities with Oman 

Saudi Arabia’s industry and mining sectors are set to benefit from bilateral ties with Oman as their ministers met in Muscat to discuss industrial cooperation and investment opportunities, the Saudi Press Agency reported.
On Wednesday, Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef met with Omani Minister of Commerce, Industry, and Investment Promotion Qais bin Mohammed Al-Yousef to improve collaboration in the industry and mining sectors.

The meeting explored investment opportunities available within the framework of the Kingdom’s Vision 2030 and the Oman Vision 2040, forging a path of economic prosperity between the two nations.

Alkhorayef also met with Ali ibn Masoud Al-Sunaidi, the president of Oman’s General Authority for Special Economic Zones and Free Zone, to enhance cooperation in developing industrial and economic cities.

The minister’s visit also included his participation in the 50th meeting of the Industrial Cooperation Committee of the Gulf Cooperation Council.

In 2022, the Saudi Industrial Development Fund financed two joint projects with Oman, with a capital amounting to SR90.7 billion ($24 billion).

The Saudi minister has been touring the world, building partnerships in the mining sector.

Earlier this month, Alkhorayef concluded an official visit to Switzerland to enhance cooperation in the industrial and mining sectors and increase trade exchange and non-oil exports.

He held talks with Swiss State Secretary for Economic Affairs Helene Budliger Artieda and the executive president of Swiss Export Credit Agency, Barbra Huiz.

They discussed ways to collaborate with the Kingdom’s Vision 2030 in diversifying the economy and taking advantage of the investment prospects offered by the National Industrial Strategy.

This move comes as the Ministry of Industry and Mineral Resources aims to shield the mining sector and maximize its value in line with the Kingdom’s Vision 2030 and the National Industry Development and Logistics Program.

The ministry is working to transform the mining sector into the third pillar of the national industry while utilizing the Kingdom’s mineral resources dispersed across 5,300 sites and holding an estimated value of SR5 trillion.

Related Articles

Saudi Press
Apple warns against drying iPhones with rice
China Criticizes US for Vetoing UN Ceasefire Resolution in Gaza
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
The U.S. vetoed a U.N. Security Council resolution calling for a temporary ceasefire in Gaza, instead proposing its own six-week ceasefire plan contingent upon the release of all hostages held by Hamas
Prince William Urges End to Gaza Conflict
Saudi Arabia ranks first in UN index for e-government services in MENA
Israel has gone ‘beyond self-defence’ in Gaza, says Labour’s Streeting
EU Calls for Immediate Ceasefire in Gaza Conflict
Israel Records 20% Drop In GDP, War In Gaza Is The Reason
Saudi Arabia's FDI Inflows Grow with New International Standards
Venture Capitals Power Up Across MENA Region
Saudi Arabia Introduces Terms for 30-Year Income Tax Exemption for Multinational Companies
Saudi FM: Establishing Palestinian state is only pathway for Mideast stability
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
Elon Musk's Starlink Gets License For Israel, Parts Of Gaza
Influencers Exploit X Platform for Profit Amidst Israel-Gaza Conflict
PM Modi Announces Opening Of New CBSE Office In Dubai
International Criminal Court's Chief "Deeply Concerned" By Rafah Bombing
January Funding for MENA Startups Totals $86.5 Million
Saudi Arabia accelerates digital economy growth through Nvidia partnership
Indian female military officers commend Saudi Arabia's progress and women's empowerment
Israel unveils tunnels underneath Gaza City headquarters of UN agency for Palestinian refugees
Israel deploys new military AI in Gaza war
Egypt threatens to suspend key peace treaty if Israel pushes into Gaza border town, officials say
Israel Utilizes AI Military Technology in Gaza Conflict
Saudi Arabia Warns Of A "Humanitarian Catastrophe" If Israel Moves On Rafah
China Warns Iran to Halt Houthi Attacks or Damage Trade Ties
US University To Shut Qatar Campus Due To "Heightened Mideast Instability"
Iran-backed hackers interrupt UAE TV streaming services with deepfake news
Facebook and Instagram Ban Iran's Supreme Leader
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
U.S. Secretary of State Blinken: The Israelis underwent dehumanization on 7.10, this does not give them the right to do this to others.
Defense Technology Showcase Held in Riyadh
Saudi Arabia’s non-oil exports rise 2.5% to $6bn in November 2023: GASTAT
UK Bans Misleading "Zero Emissions" Claims for Electric Cars
Gaza's Teen Inventor Sparks Light in Displacement
Netanyahu Rejects Ceasefire Proposal, Insists On Total Victory Over Hamas
Guterres appoints independent UNRWA review panel
Private Sector Employment Hits Record High with Over 11 Million Employees in January
Rolls-Royce Executive Encourages Saudi Women to Tap into Their Inner 'Superhero' for Success in Defense Industry
Saudi Arabia launches National Academy of Vehicles and Cars
Saudi Tourism Minister Reveals Plan for 250,000 New Hotel Rooms by 2030
SAR to more than double eastern network passenger capacity with new trains deal
Saudi Arabia Enhances National Defense with New Partnerships
Saudi Aramco Maintains Arab Light Crude Pricing to Asia for March
NEOM Establishes New York Office to Support Investors
Saudi Wealth Fund Draws in Over $25 Billion Worth of Investments in Three Years, Al-Rumayyan Reveals
ZATCA Cautions Against Scammer Schemes
INTRA Defense Technologies inaugurates drone factory in Riyadh
Saudi Arabia's Minister of Industry and Mineral Resources, Bandar Alkhorayef, has announced a partnership with the London Metal Exchange to set up metal storage and delivery centers in the country. Alkhorayef highlighted Saudi Arabia's expanding military industries sector, crediting the Public Investment Fund (PIF) as a key partner, during his speech at the second PIF Private Sector Forum in Riyadh