Saudi PIF plans to invest $5bn in Oman

Abdul Salam Al-Murshidi, head of the Omani Investment Authority, asserted in a recent interview with the Saudi Asharq Al-Awsat newspaper, that the economic relations between the Sultanate of Oman and Saudi Arabia have come a long way towards integration and strengthening the partnership between the two countries.

He noted that “what happened during the past two years, specifically after the visit of Sultan Haitham bin Tariq to Saudi Arabia, is beyond what happened over the past twenty years.”

“There will be many projects to link the two countries in the future,” He said, revealing that the Saudi Public Investment Fund, by orders of HRH Saudi Crown Prince Mohammed bin Salman, has allocated $5 billion to establish a company in the Sultanate of Oman.

“The establishment of the Saudi Coordination Council resulted in some projects including the Public Investment Fund and the Saudi Investment Authority, in addition to some companies such as SABIC, Taqwa, and others. Another example in the field of cooperation is the agreement between the Asyad Group and the Saudi Bahri Company in maritime transport”, Al-Murshidi added.

Al-Murshidi explained that the entry of the Public Investment Fund as the primary partner in the “Rakeza” Infrastructure Fund provides another example.

The Public Investment Fund contributed an amount that was similar to the amount pumped into “Rakeza”, thus becoming a partner in operating “Rakeza” in the Sultanate of Oman and the Kingdom of Saudi Arabia, according to Al-Murshidi.