The memorandum with Saudi Arabia aims to encourage the development of the Sultanate of Oman
Oman and Saudi Arabia signed an agreement to finance infrastructure projects in several industrial zones within Oman, aiming to enhance the logistics sector by providing essential services. This memorandum of understanding supports the development of these zones and underscores a commitment to improving logistical capabilities.
Oman’s Ministry of Finance stated that the agreement is part of bilateral development cooperation to enhance development areas in the Sultanate. The memorandum aims to engage the private sector in Oman‘s economic development aligned with ‘Oman Vision 2040.’ Omani Finance Minister Sultan Al-Habsi and Saudi Fund for Development CEO Sultan Al-Murshed discussed cooperation mechanisms and joint project developments during the memorandum signing.
