MUSCAT: The activities of the Saudi-Omani Industries Exhibition will begin next Wednesday in the Saudi capital, Riyadh, in conjunction with the start of the Saudi-Omani Investment Forum, with wide participation from government agencies and the most prominent Saudi and Omani companies, to display the products and industries of the two brotherly countries, and it will last 4 days.
The exhibition aims to strengthen the partnership between the Sultanate of Oman and the Kingdom of Saudi Arabia, as a culmination of the efforts made between the two brotherly countries. The exhibition includes Omani and Saudi products, as well as industrial presentations for making daggers and other events.
Several sectors are participating in the exhibition. Among them are petrochemicals, health, food, logistics, the technical sector, the financial, banking and insurance sectors, the construction and furniture sectors, in addition to the manufacturing industries, handicrafts, and the elegance and beauty sector.
The exhibition includes 48 Saudi companies and 47 Omani companies, and the Omani sector (petrochemicals, oil and plastic products) leads the sectors, with the participation of 9 companies, then the perfume and frankincense sector with the participation of 8 companies.
7 companies participate in the food sector, 4 companies in the field of jewelry and ornaments, 4 companies in the food and pharmaceutical industries sector, 4 companies to present live shows at the exhibition, 4 companies in the field of health products, in addition to 3 companies in the field of fashion, as well as a company from the sector logistical, as well as in the financial and banking sector.
The exhibition witnesses the participation of a number of government agencies in the two brotherly countries to review their specialized services in the Saudi-Omani economic and investment affairs. On the Omani side, the Ministry of Commerce, Industry and Investment Promotion, Oman Chamber of Commerce and Industry, Public Authority for Special Economic Zones and Free Zones, Omani Investment Authority, General Administration of Customs and a Oman's exports platform.
The volume of trade exchange between the Sultanate of Oman and Saudi Arabia until the end of October 2022 amounted to more than RO 2 billion, and the value of Omani imports from Saudi Arabia exceeded RO 1.496 billion, while the value of Omani exports to Saudi Arabia amounted to more than RO 734.741 million.
Saudi investments registered in the Sultanate of Oman amounted to RO 1.477 billion during 2020 as direct investments, in which the trade sector leads by 44 per cent with 620 companies, then the construction sector by 24 percent with 164 companies, then services by 20 per cent.
In another context, the work of the Saudi-Omani Investment Forum includes dialogue sessions to review prospects for promising investment sectors between the two countries, including: opportunities for integration in renewable energy and supply chains, tourism and real estate development, and other activities of common interest, which contribute to advancing and accelerating investment flows between the two countries, promoting trade exchange.
The forum's work is scheduled to include the conclusion of a number of agreements and memorandums of understanding in the fields of oil and petrochemicals, renewable energy and green hydrogen, the field of mining investment, tourism investment, as well as fish farming, the field of financial stock exchanges, logistics and transportation.
The forum will witness the organization of workshops to discuss the most promising investment sectors between the two countries, such as: commercial concession, logistical integration, cities and special economic zones in the Sultanate of Oman and Saudi Arabia, in addition to success stories of small enterprises and enterprises.
As part of the forum's activities, bilateral meetings will be held between representatives of the private sector from the Omani and Saudi sides. To discuss opportunities for cooperation and partnership and to see the investment opportunities available in the two countries. — ONA
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