Oman and Saudi Arabia have signed 13 memoranda of understanding (MoUs) to activate joint action in promising economic sectors, official sources have said.
The deals were inked by firms owned by Oman Investment Authority (OIA) with Saudi counterparts as Saudi Crown Prince Mohammed bin Salman Al Saud visited.
OQ signed three MoUs in the fields of petrochemicals, renewable energy and green hydrogen sector: the first with ACWA Power, the second with Saudi Aramco, and the third with Sabic.
In the field of dry dock and logistic services, Asyad signed an MoU with a Saudi shipping company, said the official sources.
The Oman Mining Company signed an MoU with the Saudi Mining Company to assess opportunities for explorations in the mining sector.
Omran signed an MoU with the Dar Al Arkan Real Estate Development Company for the development of a tourism project in the Yetti area.
MoUs on investment in the fisheries sector were signed by the Oman Fisheries Company and the Naqua Fisheries Company.
In the field of securities, Muscat Stock Exchange (MSX) singed an MoU with the Tadawul Stock Exchange.
Oman Communications and Information Technology inked an MoU with the National Information Technology Company (NITC).
Another contract was signed between the Khazaen Economic City and Naqel Express of Saudi Arabia to set up a vehicle assembly unit in Khazaen City.
The MoUs also included one between the Oman Project Development Company and Alkhorayef Petroleum.
An MoU was also signed in the field of entrepreneurship by Oqal Oman and its Saudi counterpart.
The Oman Integrated Logistics Company also signed an MoU with Saudi Arabia’s Al Zajel company to develop cooperation in the field of logistics and transport.
