Saudi Minister of Industry and Mineral Resources Meets Omani Counterpart and Chairman of Special Economic and Free Zones

Muscat, May 11, 2023, SPA -- The Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim AlKhorayef, met in Muscat with the Omani Minister of Commerce, Industry, and Investment Promotion, Qais bin Mohammed Al Yousef, as part of his official visit to the Sultanate of Oman.
The visit includes participation in the 50th meeting of the Industrial Cooperation Committee of the Gulf Cooperation Council (GCC), held in Muscat.
The meeting addressed enhancing industrial cooperation between the two countries, benefiting from investment opportunities available within the frameworks of Saudi Vision 2030 and Omani Vision 2040, and initiatives to facilitate investments between the two brotherly countries.
AlKhorayef also met with the Chairman of the Public Authority for Special Economic Zones and Free Zones, Dr. Ali bin Masoud Al Sunaidy, for talks on opportunities to enhance cooperation in the development of industrial and economic cities.
Non-oil Saudi exports to Oman reached SAR 4.3 billion in 2022, including food products, petrochemicals, and building materials.
The total Saudi non-oil imports from Oman in 2022 reached SAR 8.2 billion, which included medicines, packaging, and consumer products.
The Industrial Fund also contributed to financing two joint projects with Oman, worth SAR 90.7 billion.
--SPA