Saudi Arabia and Oman agree MoUs at Riyadh food show

04/07/23

Saudi Arabia and The Sultanate of Oman have signed multiple contracts and memoranda of understandings (MOUs) at the recent Saudi Food Show. The agreements reflect the strengthening of economic and investment ties between Riyadh and Muscat.

At the event, the Saudi Investment Ministry hosted a senior delegation from Oman, culminating in the signature of 13 MoUs in a diverse variety of sectors, including biochemical, energy, mining and food. One notable tie up featured Saudia Dairy and Foodstuff Company (SADAFCO), who agreed a sales and export agreement for its products in Oman, according to a stock exchange filing.

The two countries further discussed bilateral agreements between key company executives, investors, commercial agents and suppliers. The signed agreements underscored the long standing partnership between Saudi Arabia and Oman, which have been reinforced in recent years through high level diplomatic endeavours.

Such recent developments have witnessed the Saudi Minister of Investment and the Chairman of the Oman Investment Authority meet to further develop economic ties and discuss future collaboration. In December 2021, Saudi Arabia and the Sultanate of Oman announced the opening of the first land crossing between the Gulf states to promote trade exchange and improve ease of travel.

The four day forum was held under the theme “Partnership and Integration” and was aimed at building sustainable partnerships in key sectors which contributed to enhancing mutual interests of both sides.

Business Start Up Saudi Arabia offers a network of experts and specialists within the lifecycle of a business. We can offer expertise in Market Research and Assessment Saudi, Saudi Business Case, Saudi Business Model Development, Feasibility Study and Business Plan Saudi, Organizational and Operational Structuring Saudi, Saudi Sponsorship and Partnership, Company Formation Saudi among others.

Please click on the link to learn more about opportunities and possibilities in Saudi Arabia as well as the initiatives of Business Start Up Saudi Arabia.

Other News

News 2 thumb

Saudi Arabia’s New Companies Law Opens Doors for Startups and SMEs

Saudi Arabia continues to strengthen its position as a top destination for entrepreneurs and innovators with the rollout of the New Companies Law—a major reform designed to make it easier, faster, and...

Read more
News 1 Thumb

One Register System Transforms Business Setup in Saudi Arabia

A New Era for Entrepreneurs, Startups, and Investors Across the Kingdom

Saudi Arabia has introduced the “One Register” system, a groundbreaking reform that allows businesses to operate across the...

Read more
BSUS News 18 - Thumb

Saudi Arabia and Italy strengthen ties with 26 economic agreements

Saudi Arabia and Italy have signed 26 memoranda of understanding (MoUs) aimed at deepening bilateral cooperation across key sectors such as construction, renewable energy, advanced technologies, and cultural...

Read more
BSUS News 17 - Thumb

Saudi Tech sector drives surge in business registrations

Saudi Arabia recorded a remarkable 67% increase in commercial business registrations in the fourth quarter of 2024, with technology-driven companies leading the surge.

Over 160,000 new business registrations...

Read more
BSUS News 16 - Thumb

Saudi Arabia extends deadline for mineral exploration bids

Saudi Arabia has extended the deadline for submitting proposals for exploration licenses in its largest mineralised belts.

The Ministry of Industry and Mineral Resources...

Read more
BSUS News 15 - Thumb

Saudi Arabia and France sign energy linked MoU

Saudi Arabia and France have entered into a landmark agreement aimed at strengthening bilateral cooperation in the energy sector. The arrangement features a strong emphasis on technologies that address...

Read more
BSUS News 14 - Thumb

Saudi based Swedish companies aim to increase investments

Saudi Arabian based Swedish companies intend to boost their investments in the Kingdom over the next year according to a recent report from Business Sweden.

Sweden's is Saudi Arabias largest trading...

Read more
BSUS News 13 - Thumb

Saudi Cabinet approves strategic framework to enhance FDI

Saudi Arabias government cabinet has approved a comprehensive national framework designed to stimulate foreign direct investment (FDI). The strategic move lays foundations for increased economic collaboration...

Read more

Page Break