Arab News, Sat, Apr 27, 2024 | Shawwal 18, 1445
Omani officials forge economic alliances with Saudi Arabia, Japan, and US
Oman:
Oman’s industrial infrastructure is set to
receive a boost following a new agreement with Saudi Arabia, fostering private
sector participation in the country’s economic growth.
A memorandum of understanding, aimed at financing
the infrastructure of several industrial zones in Oman, was signed during a
meeting between Minister of Finance Sultan bin Salem Al-Habsi and Sultan
Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development, the Oman News
Agency reported.
Discussions centered on cooperation mechanisms
between Oman and the fund, along with updates on collaborative development
projects.
The aim is to develop the industrial and
logistical sectors by providing all necessary basic services, thereby
encouraging the private sector to contribute to Oman’s economic development in
line with Oman Vision 2040, as reported by the agency.
This memorandum falls within the framework of
cooperation between the two parties to support developmental areas in Oman.
These encompass infrastructure, higher and vocational education programs, and
water, along with the industry and mining sectors. Additionally, it includes
transportation and communications sectors, as well as developmental projects in
the energy sector.
On another note, Ali bin Masoud Al-Sunaidi,
chairman of the Public Authority for Special Economic Zones and Free Zones, met
with Ken Saito, minister of economy, trade and industry of Japan, and his
accompanying delegation in Tokyo.
During the meeting, they reviewed the business
cooperation between the two countries and the major projects under construction
in the economic and free zones and industrial cities in Oman, notably the
low-carbon iron production project in the Special Economic Zone in Duqm.
The visit also included meetings with officials
from companies engaged in iron and its derivatives production, and renewable
energy equipment manufacturing companies, as well as a visit to Yokohama Port to
learn about its experience in receiving ships specialized in energy and
petroleum product transportation.
Also on April 24, Oman and the US explored ways to
enhance trade, investment, and address challenges comprehensively during the
second strategic dialogue held in Washington.
The Omani side was chaired by Sheikh Khalifa bin
Ali bin Issa al-Harthy, undersecretary for Diplomatic Affairs, Ministry of
Foreign Affairs, while the US side was chaired by Jose Fernandez, undersecretary
of state for Economic Growth, Energy, and the Environment.
Both sides discussed opportunities for American
companies in Oman, focusing on ICT, semiconductors, and clean energy services,
expressing commitment to enhancing cooperation in clean energy solutions and
mineral investments.
They addressed environmental priorities under the
Omani-American cooperation memorandum, fostering communication between
researchers from both countries for clean energy research.