OCCI and Riyadh Chamber discuss trade and economic cooperation
Published: 03:12 PM,Dec 02,2024 | EDITED : 07:12 PM,Dec 02,2024
RIYADH: The Oman Chamber of Commerce and Industry (OCCI) and the Riyadh Chamber discussed ways to enhance trade and economic cooperation between the two friendly countries during a meeting held at the Riyadh Chamber headquarters in the Kingdom of Saudi Arabia.
The meeting began with a speech from Mohammed bin Abdullah al Murshid, a member of the Riyadh Chamber's Board of Directors, who stated that the meeting contributes to strengthening economic and trade relations between the two countries, achieving greater cooperation and growth. He emphasized the importance of investment partnerships that benefit everyone and noted that this visit allows for the exploration of new opportunities and the exchange of experiences and best practices through the Chamber of Commerce.
Al Murshid added that the relations between the two countries form a common ground that contributes to achieving our aspirations and enhances innovation and promising initiatives.
'With support from Vision 2030 and Vision 2040, we look forward to developing more business that serves our mutual interests,” he stated.
Following that, Eng Said bin Ali al Abri, Chairman of the Oman Chamber of Commerce and Industry branch in North Al Batinah Governorate and head of the delegation, delivered a speech stating that this initiative embodies the depth of brotherly relations between our two countries and highlights the importance of continuous cooperation and communication.
He expressed the desire to strengthen ties and exchange experiences for the benefit of both nations, noting that their visit aims to explore commercial and investment opportunities between the Sultanate of Oman and the Kingdom of Saudi Arabia, in addition to presenting available investment opportunities.
He stated that during this visit, they aim to find promising opportunities in the Kingdom, enhance trade and economic cooperation, and increase the volume of exports between the two countries, as well as exchange expertise in various economic fields and build bridges of cooperation.
This visit comes as part of efforts to enhance economic, trade, and investment relations between the Sultanate of Oman and the Kingdom of Saudi Arabia.
Eng Said al Abri also mentioned that the trade exchange between the two countries, as of the end of June 2024, reached approximately RO 1.014 billion. He added that the Empty Quarter Road, which connects the two countries, plays a significant role in enhancing cooperation prospects in various fields. They look forward to the Omani delegation having fruitful and beneficial opportunities during this meeting and to strengthening trade and investment ties between the two nations.
Mohammed Ramadan, Director of Partners Management at the Saudi Ministry of Investment, presented an overview of the 'Investor Voice' initiative, which is one of the impactful initiatives of the National Investment Strategy that aims to convey the priorities and challenges of investors, serving as a link between investors and the Ministry of Investment and relevant authorities. He reviewed the initiative’s pathways, including stakeholder relations and analytical reports, in addition to implementation and follow-up. The goals of this initiative include enhancing relations with investors by understanding their priorities and challenges, contributing to improving investor participation, and fostering communication between local and foreign investors while helping to avoid future challenges and obstacles before they arise.
This was followed by a visual presentation on the National Investment Strategy, presented by Majed al Mulla, Director of Senior Investor Relations at the Ministry of Investment. He discussed the roadmap of the National Strategy aimed at increasing the quality and volume of investment in the Kingdom, which will help drive economic development in line with Vision 2030, emphasizing a stronger role for the local and international private sector in priority sectors.
He also spoke about the four pillars of the strategy: competitiveness and enabling factors, financing, investors, and investment opportunities. The meeting also included a visual presentation from the Omani side, presented by Abdulaziz bin Khalid al Mukhammari, a specialist in exporter services from the Ministry of Commerce, Industry, and Investment Promotion. He discussed the available investment opportunities in the Sultanate of Oman, Omani economic indicators, and the incentives and facilities provided to investors.
Al Mukhammari highlighted the importance of the Oman Export Center, which will play a crucial role in supporting the Omani economy by enhancing non-oil Omani exports and increasing their volume through promotion in targeted foreign markets.
Finally, a discussion was opened between Omani and Saudi businessmen regarding the importance of mutual cooperation to enhance economic and trade relations between the two countries.
The meeting began with a speech from Mohammed bin Abdullah al Murshid, a member of the Riyadh Chamber's Board of Directors, who stated that the meeting contributes to strengthening economic and trade relations between the two countries, achieving greater cooperation and growth. He emphasized the importance of investment partnerships that benefit everyone and noted that this visit allows for the exploration of new opportunities and the exchange of experiences and best practices through the Chamber of Commerce.
Al Murshid added that the relations between the two countries form a common ground that contributes to achieving our aspirations and enhances innovation and promising initiatives.
'With support from Vision 2030 and Vision 2040, we look forward to developing more business that serves our mutual interests,” he stated.
Following that, Eng Said bin Ali al Abri, Chairman of the Oman Chamber of Commerce and Industry branch in North Al Batinah Governorate and head of the delegation, delivered a speech stating that this initiative embodies the depth of brotherly relations between our two countries and highlights the importance of continuous cooperation and communication.
He expressed the desire to strengthen ties and exchange experiences for the benefit of both nations, noting that their visit aims to explore commercial and investment opportunities between the Sultanate of Oman and the Kingdom of Saudi Arabia, in addition to presenting available investment opportunities.
He stated that during this visit, they aim to find promising opportunities in the Kingdom, enhance trade and economic cooperation, and increase the volume of exports between the two countries, as well as exchange expertise in various economic fields and build bridges of cooperation.
This visit comes as part of efforts to enhance economic, trade, and investment relations between the Sultanate of Oman and the Kingdom of Saudi Arabia.
Eng Said al Abri also mentioned that the trade exchange between the two countries, as of the end of June 2024, reached approximately RO 1.014 billion. He added that the Empty Quarter Road, which connects the two countries, plays a significant role in enhancing cooperation prospects in various fields. They look forward to the Omani delegation having fruitful and beneficial opportunities during this meeting and to strengthening trade and investment ties between the two nations.
Mohammed Ramadan, Director of Partners Management at the Saudi Ministry of Investment, presented an overview of the 'Investor Voice' initiative, which is one of the impactful initiatives of the National Investment Strategy that aims to convey the priorities and challenges of investors, serving as a link between investors and the Ministry of Investment and relevant authorities. He reviewed the initiative’s pathways, including stakeholder relations and analytical reports, in addition to implementation and follow-up. The goals of this initiative include enhancing relations with investors by understanding their priorities and challenges, contributing to improving investor participation, and fostering communication between local and foreign investors while helping to avoid future challenges and obstacles before they arise.
This was followed by a visual presentation on the National Investment Strategy, presented by Majed al Mulla, Director of Senior Investor Relations at the Ministry of Investment. He discussed the roadmap of the National Strategy aimed at increasing the quality and volume of investment in the Kingdom, which will help drive economic development in line with Vision 2030, emphasizing a stronger role for the local and international private sector in priority sectors.
He also spoke about the four pillars of the strategy: competitiveness and enabling factors, financing, investors, and investment opportunities. The meeting also included a visual presentation from the Omani side, presented by Abdulaziz bin Khalid al Mukhammari, a specialist in exporter services from the Ministry of Commerce, Industry, and Investment Promotion. He discussed the available investment opportunities in the Sultanate of Oman, Omani economic indicators, and the incentives and facilities provided to investors.
Al Mukhammari highlighted the importance of the Oman Export Center, which will play a crucial role in supporting the Omani economy by enhancing non-oil Omani exports and increasing their volume through promotion in targeted foreign markets.
Finally, a discussion was opened between Omani and Saudi businessmen regarding the importance of mutual cooperation to enhance economic and trade relations between the two countries.