RIYADH: Saudi Arabia and Oman have signed an executive program in the field of communications, information technology infrastructure and undersea cable investments.
The agreement was signed between the Kingdom’s Ministry of Communications and Information Technology and Oman’s Ministry of Transport, Communications and Information Technology in the presence of Saudi Arabia’s Abdullah Al-Swaha and Oman’s Said bin Hamoud Al-Ma’awali.
“The program aims to exploit the geographical location of the two countries and promote investment in the submarine and terrestrial cables that pass through them,” the Saudi Press Agency reported.
It will create a common work environment to enhance cooperation in the field of infrastructure for communications and information technology services, and high-speed digital interconnection for data exchange.
The executive program also aims to develop options for implementing regional digital connectivity through investment entities and licensed companies, and to expand investment in global data centers and cloud services that target a regional presence to maximize benefit for the region.
Held in Riyadh on Feb. 1, the Saudi-Oman Investment Forum and exhibition discussed various ways and means to enhance the long-term economic partnership between the two Gulf states in the investment and industry sectors.
The Saudi Ministry of Investment hosted a senior delegation from Oman, which culminated in the signing of 13 memorandums of understanding in various sectors, including biochemicals, energy, mining, financial investment, logistics, maritime transport and information technology, among others.
The agreements signed at the forum underscore the long-standing partnership between Saudi Arabia and Oman, which has accelerated in recent years with several high-level engagements.
The four-day exhibition highlighted the strong economic relationship between the two nations across several sectors and showcased products and services from small and medium enterprises, including businesses from both sides, to stimulate opportunities for investment.