Upcoming Large Economic Projects to Link Saudi Arabia, Oman

Upcoming Large Economic Projects to Link Saudi Arabia, Oman

Abdulsalam Al Murshidi, the executive president of the largest sovereign wealth fund of the Sultanate of Oman, has affirmed that economic ties between Oman and Saudi Arabia have taken great strides towards integration and strengthening the partnership between the two countries.

“What happened during the past two years, specifically after the visit of Sultan Haitham bin Tariq to the Kingdom, exceeded what had happened during the past two decades,” said Murshidi in an interview with Asharq Al-Awsat from his office in Muscat.

Murshidi confirmed that large projects linking Oman and Saudi Arabia will be announced in the future.

Moreover, the Omani official revealed that the Saudi Public Investment Fund, by orders of Saudi Crown Prince Mohammed bin Salman, has allocated $5 billion to establish a company in the Sultanate.

“We started looking for investment opportunities that the company could enter into,” said Murshidi, disclosing that an attaché was appointed to the Investment Authority at the Omani Embassy in Riyadh.

A few days ago, during a budget presentation, Murshidi revealed that the Omani Investment Authority aims during 2023 to spend OMR 1.9 billion ($4.95 billion) in investment projects.

“Proceeding with Oman Vision 2040, one of the most important axes of which is economic diversification, is not done