Minister of Industry and Mineral Resources Bandar Alkhorayef and Omani Minister of Commerce, Industry, and Investment Promotion Qais bin Mohammed Al Yousef have officially launched the second phase of industrial integration between Saudi Arabia and Oman. The announcement was made during a joint meeting held at the Ministry’s headquarters in Riyadh.
This new phase aims to strengthen direct trade, enhance value chain integration, and attract high-quality industrial investments. Key goals also include recognizing local products from both countries as national products in government procurement processes and streamlining procedures for exporters and investors.
During the meeting, participants reviewed the accomplishments of the first phase, which featured several strategic initiatives. Among them was the Future Factories Program, designed to shift factories from labor-intensive operations to advanced industrial technologies, thereby improving supply chain integration. Officials from both nations also explored opportunities to share knowledge across industrial sectors, collaborate on national strategies, and exchange industrial data.
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