Saudi Arabia and Oman are discussing enhancing cooperation in free zones and economic cities to further boost trade. Saudi Economic Cities and Special Zones Authority Secretary-General Nabil Khoja met his Omani counterpart Ali Al-Sunaidy, the chairman of the Public Authority for Special Economic Zones and Free Zones, to jointly explore the consolidation of the economic zones.
During the meeting in the Saudi capital, the two officials reviewed significant investment opportunities for the targeted sectors, incentives and facilities proposed for the integrated economic zone project in Dhahirah and its role in increasing the trade volume between the two countries. It is noteworthy that the two countries have established a committee dedicated to overseeing the development of the integrated economic zone in Dhahirah.
The committee is responsible for crafting a comprehensive plan for the zone’s development, execution and management in Oman, besides monitoring the implementation of all related programs and initiatives. The officials also reviewed the complementarities between the economic zones in the Oman, their Saudi counterparts and the importance of framing the relationship between Omani and Saudi companies through an electronic platform that links these firms to benefit from the sector’s added value, including available raw materials and production inputs.
Furthermore, the two sides highlighted investment opportunities in renewable energy, petrochemicals, fisheries, medicines, medical supplies and services for oil and gas spare parts. They also discussed the importance of attracting investors from both regions to the integrated economic zone in the Dhahirah governorate. The meeting was attended by Omani Ambassador Sayyid Faisal bin Turki Al-Said along with several senior officials.