Saudi Crown Prince arrives in Oman on official visit

Saudi Crown Prince Mohammad bin Salman bin Abdulaziz arrived in Oman on Monday as part of an official visit covering all the Gulf states. He was received at the airport by Oman’s Sultan Haitham bin Tariq bin Taimur.

During the two-day visit, the two leaders are expected to explore various areas of interest to the two countries.

On the sidelines of the visit, Saudi Arabia and Oman signed 13 memoranda of understanding (MoUs) across different sectors, reportedly worth more than $10bn.

The deals were signed by firms owned by Oman Investment Authority (OIA) with their Saudi counterparts, the official Oman News Agency reported.

Omani energy company OQ signed three MoUs in the fields of petrochemicals, renewable energy and green hydrogen sector: the first with ACWA Power, the second with Aramco and the third with SABIC.

In the field of dry docks and logistic services, Asyad signed an MoU with a Saudi shipping company, while Oman Mining Company signed an MoU with Saudi Mining Company to assess joint opportunities for exploration.

Muscat Stock Exchange entered a deal with the Tadawul Stock Exchange while the Oman Tourism Development Company (Omran) signed an MoU with Saudi’s 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 Oman Fisheries Company and Naqua Fisheries company.

Oman Communications and Information Technology inked an MoU with the National Information Technology Company (NITC), while a contract was signed between Khazaen Economic City and Naqel Express of Saudi Arabia to set up a vehicle assembly unit in Khazaen City.

Following his trip to Oman, Prince Mohammed will also meet leaders in the UAE, Qatar, Bahrain and Kuwait to discuss bilateral relations. The visit comes ahead of the GCC summit in Riyadh later this month.