Key agreements signed at B2B meetings

Muscat: On the sidelines of the ongoing Omani-Saudi Investment Forum, Omani businessmen and their Saudi counterparts held joint meetings, which led to the conclusion of agreements and memoranda of understanding (MoUs), thanks to the presence of representatives of related government and private organisations.

The agreements and MoUs deal with ways to benefit from Khazaen project to facilitate the introduction of Saudi “Naqil” services. They included sealing two MoUs between Oman Integrated Logistics Services (ILSOMAN) companies and the companies of Mandoob and Zajel of Saudi Arabia.

Entrepreneurs from both sides highlighted the importance of the forum. Nasir al-Sahli, Chairman of Saf Holding of Saudi Arabia, underscored the significance of bilateral meetings which, he said, provides a platform for building business partnerships, accelerate the pace of two-way trade and augment the volume of investment.

Al-Sahli commended the services offered by the Sultanate to the Saudi business community which, he said, lay emphasis on investment in the sectors of petrochemicals, tourism, entertainment, energy and logistics.

In his turn, Fahmi Said al-Hinai, Manager of Oman Polyporpylene, said joint meetings contribute to the development of insights on available investment opportunities in economic sectors.

The direct talks also help remove obstacles to the smooth flow of two-way trade, said al-Hinai.

Echoing a similar view, Ghanim Dhahir al-Bat’hari, an Omani businessman, said that the forum creates rapprochement between representatives of major and medium firms operating in different specialties. He spoke about investment in promising sectors that are the focus of Oman Vision 2040 and Saudi Vision 2030—like energy, converting industries, logistics and tourism.

Al-Bat’hari added that the land checkpoint between Oman and Saudi Arabia, expected to be officially opened soon, will pave the way for better economic exchange and facilitate logistic supplies, among other services.

Sheikh Abdullah Ali al-Mahri, CEO of Emar Al Jazeera Trading and Contracting, expressed the keenness of the Saudi business community in investment in the Sultanate. Al-Mahri called upon entrepreneurs from both countries “to tap the opportunities made available in the appropriate investment environment—in terms of laws, easing procedures and incentives.”