KSA-Oman ties open door for businesses

JEDDAH, Sept 19 (Arab News): More Saudi businesses are actively exploring investment opportunities in Oman following recent reciprocal visits of Saudi and Omani top officials.

The visits have given a new impetus to the bilateral ties and slammed open doors of new opportunities for both countries in various sectors.

Among a long list of such businesses are Al Sayadiyah United Co. and Luberex Co. for Trade and Industry, which are reportedly in talks with their Omani counterparts to expand into the sultanate.

Marwan Raffa, CEO of the Kingdom-based Al Sayadiyah United Co., said the company has been operating for about 40 years. It trades in fish and seafood items from different Gulf Cooperation Council countries and expects a very good experience in trade operations with Oman.

The CEO is in touch with Oman's counterparts to expand business operations in the country.

He said the Kingdom's relationship with other countries, of course, would affect his line of work. "Good relationships open up more opportunities," he said.

Currently, the total Saudi investments in Oman amount to nearly SR24 billion and Omani investments have reached over SR4 billion.

Oman's coasts and beaches are no less than 3,000 km long. He said it is a great and fruitful place for his business.