6 days ago
Oman and Saudi Arabia launch second phase of industrial integration
RIYADH: The second phase of industrial integration initiatives between Oman and Saudi Arabia (KSA) was launched in Al Riyadh as part of the work of the Economy, Trade, and Industry Committee of the Omani-Saudi Coordination Council, on Saturday.
The launch ceremony was held under the auspices of Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, in the presence of Bandar bin Ibrahim al Khorayef, Minister of Industry and Mineral Resources of Saudi Arabia. The event was attended by Sayyid Najib bin Hilal bin Saud al Busaidy, the Sultanate of Oman's Ambassador to the Kingdom of Saudi Arabia, its Permanent Representative to the Organisation of Islamic Cooperation and its Permanent Representative to the Digital Cooperation Organisation in Al Riyadh, and a number of officials representing both countries. A visual presentation was staged highlighting the most prominent existing industrial initiatives between the two countries and future plans in certain sectors within the paths of joint industrial integration.
A number of future initiatives aimed at enhancing industrial cooperation, expanding the scope of mutual investments, and supporting supply chains and manufacturing between the two countries, were discussed.
Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, met with HH Prince Sultan bin Khalid al Saud, CEO of the Saudi Industrial Development Fund (SIDF).
During the meeting, they discussed financing opportunities and financial support for joint industrial projects, as well as ways to exchange expertise in the areas of industrial zone development and financing infrastructure supporting the industrial sector.
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