Latest news with #industrialintegration
Zawya
07-07-2025
- Business
- Zawya
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. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Times of Oman
05-07-2025
- Business
- Times of Oman
Oman and Saudi Arabia launch Phase II of industrial integration
Riyadh: The second stage of the industrial integration initiatives between the Sultanate of Oman and the Kingdom of Saudi Arabia kicked off on Saturday within the activities of the Economy, Trade and Industry Committee of the Oman-Saudi Coordination Council. The launch ceremony was organised under the patronage of Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion and Bandar bin Ibrahim bin Abdullah Al Khorayef, Minister of Industry and Mineral Resources in the Kingdom of Saudi Arabia, in the presence of Sayyid Najib bin Hilal bin Saud Al Busaidi , the Sultanate of Oman's Ambassador to Saudi Arabia, its Permanent Representative to the Organisation of Islamic Cooperation and a number of officials from the two sides. The ceremony included a virtual presentation on the key industrial initiatives between the Sultanate of Oman and the Kingdom of Saudi Arabia in priority sectors. The ceremony also discussed a number of future initiatives aimed at boosting industrial cooperation, expansion of the mutual investments and the support of the supply chains and manufacturing between the two countries. During the visit, Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion met with Prince Sultan bin Khalid Al Saud, CEO of the Saudi Industrial Development Fund. The meeting discussed the finance and financial support for the joint industrial projects. The meeting also discussed ways of exchange of expertise in the fields of industrial estates and finance of basic structure supportive to the industrial sector. The second stage of the industrial integration initiatives included incorporating the Sultanate's products in the list of the industrial potentials approved in the KSA and implementation of the rules of the national source of origin as to ensure equal treatment between the Omani and Saudi companies in government tenders and purchases. Qais Al Yousef reaffirmed that the launch of the second stage of the industrial integration initiatives and the signing of the bilateral agreements stress the joint interest of the Sultanate of Oman and the Kingdom of Saudi Arabia for boosting the economic cooperation and industrial integration between the two countries. Qais Al Yousef met with Dr. Fahad bin Ibrahim Al Shathri, CEO of the Saudi General Authority of Competition. The two sides discussed ways of technical and legislative cooperation and exchange of information on issues of competition and coordinating efforts for following with the cross- border harmful monopoly practices. The event also saw the signing of a memorandum of understanding between the Ministry of Commerce, Industry and Investment Promotion and the General Authority of Competition on protection of competition and prevention of harmful monopoly practices. The Minister of Commerce, Industry and Investment Promotion also met with Ibrahim bin Yousef Al Mubarak, Assistant Minister of Investment of the Kingdom of Saudi Arabia. The meeting reviewed mutual investment opportunities in both countriesand the initiatives aimed at enhancement of the investment environment in the industrial and commerce sectors. The minister also met with a number of representatives of the Saudi private sector. The meetings reviewed the investment opportunities in the services, manufacturing and retail sectors besides exploring the opportunities of expansion in the regional markets through strategic partnerships between the private sectors in both the countries.
Asharq Al-Awsat
04-07-2025
- Business
- Asharq Al-Awsat
Saudi Industry Minister Launches Second Phase of Saudi-Omani Industrial Integration
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and Omani Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef launched the second phase of industrial integration between Saudi Arabia and Oman, reported the Saudi Press Agency on Thursday. The announcement was made as the ministers co-chaired a joint meeting at the ministry's headquarters in Riyadh. The second phase of industrial integration focuses on boosting direct trade, supporting integration in value chains, and stimulating qualitative industrial investments. Objectives also include treating local products as national products in government procurements and facilitating procedures for exporters and investors. The meeting reviewed the achievements of the first phase of industrial integration, which included several initiatives such as the Future Factories Program, an initiative aimed at transforming factories from reliance on labor-intensive processes to adopting advanced industrial solutions and boosting integration in supply chains. It also discussed exchanging knowledge across various industrial sectors, as well as building national strategies and sharing industrial information.
Argaam
03-07-2025
- Business
- Argaam
Saudi Arabia, Oman launch phase two of industrial integration
The launch of the second phase of the Saudi-Omani industrial integration initiative Minister of Industry and Mineral Resources Bandar Alkhorayef announced today the launch of the second phase of the Saudi-Omani industrial integration initiative. The initiative aims to boost industrial integration between the two countries, as well as boosting trade exchange and mutual investments, he added, in a post on 'X' social platform.
Arab News
24-06-2025
- Business
- Arab News
Saudi Arabia, Bahrain launch 2nd phase of industrial integration
RIYADH: Saudi Arabia and Bahrain have launched the second phase of their industrial integration initiative, aiming to boost bilateral trade, investment, and cross-border supply chain cooperation. Announced on the sidelines of the Saudi Industry Forum 2025 in Dhahran, Khalil Ibn Salamah, deputy minister for industrial affairs, emphasized that the new phase would build on prior successes between the two countries. This comes amid strengthening economic ties between the countries, with the Kingdom's direct investments in Bahrain reaching SR35 billion ($9.33 billion) in 2023 — representing approximately 20 percent of total foreign investments — and 1,550 Saudi-registered companies operating in the country, as revealed by Saudi Arabia's Minister of Investment, Khalid Al-Falih, during a business forum earlier this year. In an official statement marking the latest announcement, the Saudi Ministry of Industry and Mineral Resources stated: 'The second phase of industrial integration between the two countries focused on setting specific targets, including enhancing intra-trade in industrial goods, attracting industrial investments.' It added that this will help 'integration in the field of industrial infrastructure and supply chain integration,' as well as identifying a list of export opportunities for non-oil goods and facilitating procedures for exporters and investors. The initiative is part of broader efforts under the Gulf Cooperation Council Economic Agreement, which aims to increase the industrial sector's contribution to regional GDP and foster industrial coordination among member states 'on an integrated basis,' according to the ministry. The second phase builds on earlier efforts, including the Future Factories Program, which helped shift production in both countries from labor-intensive to advanced manufacturing, along with aligning policies to treat local products as national goods and streamline customs processes. As part of the second-phase launch, Ibn Salamah inaugurated the Bahraini Investors Services Office in Dammam's Third Industrial City. The event was attended by Bahrain's Minister of Industry and Commerce, Abdullah bin Adel Fakhro. 'The office aims to attract quality industrial investments and provide all industrial investment services to investors,' the ministry noted. Positioned strategically near Bahrain, approximately 130 km away, Dammam's Third Industrial City offers a robust industrial ecosystem. Spanning 48 million sq. meters, the site features extensive infrastructure including a modern road network, energy and water supply systems, and logistical connectivity through its proximity to King Fahd Port, King Fahd International Airport, and the dry port in the city of SPARK. The Saudi Industry Forum also highlighted how the new office will offer a 'package of services and enablers from the industrial and mining system to facilitate the journey of Bahraini investors,' further underscoring both countries' commitment to deepening industrial and economic ties.
