Saudi, Omani businessmen mull setting up petrochemical JV in Sultanate

Nasser Al-Hajri, Chairman of Saudi-Omani Joint Business Council

Nasser Al-Hajri, Chairman of Saudi-Omani Joint Business Council, said Saudi and Omani businessmen are studying to establish a joint venture named "Gulf Company", which will specialize in petrochemicals and chemicals, Oman News Agency reported.

He added that Saudi businessmen are looking for major investments in the Sultanate's industrial, petrochemical, chemical manufacturing, fish farming, mining, food, animal feed, tourism, and real estate sectors.

Saudi businessmen are strongly interested in Omani investments, provided that there is improvement of legislation, regulations and investment procedures, so they can get better incentives and facilities compared to those offered in the Kingdom, the top official said.

A Saudi delegation, headed by Minister of Investment Khalid Al-Falih, visited the Sultanate over the past few days, to explore investment opportunities between the two countries.