Muscat: His Excellency Sultan bin Salem Al Habsi, Minister of Finance, received today in his office His Excellency Sultan bin Abdul Rahman Al Murshid, CEO of the Saudi Fund for Development. The meeting was held to discuss cooperation mechanisms between the Sultanate of Oman and the Fund and progress in joint development projects.

On the sidelines of the meeting, the two sides signed a memorandum of understanding to finance the infrastructure of a number of industrial zones in the Sultanate of Oman. The aim is to develop the industrial and logistics sectors by providing all basic services and to encourage the private sector to contribute to the economic development of the Sultanate of Oman in accordance with “Oman Vision 2040.”

The memorandum comes within the framework of development cooperation between the two sides to support development areas in the Sultanate of Oman, such as infrastructure, higher and vocational education programmes, water, industry, mining, transport and communications sectors, in addition to development projects in the energy sector.

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