New measures to strengthen Saudi Arabian relations

23/09/21

His Highness Sultan Haitham Bin Tariq, the Sultan of Oman, visited Saudi Arabia most recently following an invitation by His Highness King Salman Bin Abdul Aziz Al Saud, the Custodian of the Two Holy Mosques in the Kingdom of the Saudi Arabia.

The Sultan’s visit was his first foreign trip since becoming Oman’s leader at the beginning of 2020 and was intended to strengthen the relations between the two countries.

During the visit the rulers reviewed existing areas of joint cooperation and collaboration and looked at ways to expand them. They also discussed the countries’ economies and ways to build on the Oman Vision 2040 and the Saudi Vision 2030.

The Omani - Saudi Business Council is working to advance and enhance the bilateral relations in various fields especially in trade, business and investment.

The volume of trade exchange has grown significantly over the past decade reaching OMR 77.6 million (USD 201.8 million) in 2020.

Meanwhile, Oman's transport and logistics sector stands to benefit as a new highway connecting Oman and Saudi Arabia will be opened soon. Land transport is a key part of Oman`s Logistics Strategy (SOLS 2040) and the new highway will be safer, shorter and more convenient. The road will decrease travel time by 16 hours and stretches through the Rub Al Khali desert also known as the Empty Quarter. It will allow goods from Salalah and Duqm in the South of Oman to be transported into Riyadh in the North-West of Saudi Arabia to sustain the needs of the Gulf’s biggest economy.

Please click on the link and reach out to learn more about the latest developments in the Sultanate of Oman and the region as well as the initiatives of Business Start Up Oman.

Other News

News 30 - Thumb

Oman’s Sur Oasis Incubator welcomes entrepreneurs

Sur Oasis Incubator in Sur Industrial City has welcomed its first cohort of entrepreneurs, innovators and inventors most recently.

The incubator accepted start-ups...

Read more
News 29 - Thumb

Oman records energy driven budget surplus

Oman recorded a budget surplus of OMR 784 million (USD 2 billion) in the first half of 2022 according to data provided by Oman News Agency (ONA).

The country’s total revenue in the first six months...

Read more
News 27 - Thumb

More GCC tourists and high hotel occupancy in Oman

The Sultanate of Oman is witnessing a surge of tourists from GCC countries according to the National Centre for Statistics and Information (NCSI).

The increase was most obvious during the months of...

Read more
News 26 - Thumb

Oman passes regulations for household businesses

Oman`s Ministry of Commerce, Industry and Investment Promotion (MoCIIP) has issued a ministerial decision concerning income generating household businesses.

As a result, the new measures will legalise...

Read more
News 25 - Thumb

Oman promotes investment in green energy sector

Oman Investment Authority (OIA) recently hosted the Renewable Energy Conference to present green energy investment opportunities to the international market.

The conference was jointly organised by...

Read more
News 24 - Thumb

Oman’s Ibri Industrial City attracts new projects

Madayn, Oman’s Public Establishment for Industrial Estates, has announced the Ibri Industrial City project completion rate has surpassed 27%.

Phase one of the project is being developed in the Wilayat...

Read more
News 23 - Thumb

Oman plans smart cities in Suhar, Nizwa and Salalah

The Sultanate of Oman`s Ministry of Housing & Urban Planning has launched an innovative initiative to develop three smart cities in different parts of the country.

It has invited international urban...

Read more
News 22 - Thumb

Key enablers to ramp up Oman’s attractiveness

The Sultanate of Oman is introducing a wide range of innovative incentives to attract foreign direct investment and to boost exports to third countries in the region and beyond.

There are 135 new initiatives...

Read more

Page Break