LOC14:38
11:38 GMT
MUSCAT, April 25 (KUNA) -- Oman signed a memorandum of understanding with Saudi Arabia on Thursday to finance the infrastructure of a number of industrial zones in the Sultanate with the aim of developing the logistical sectors by providing all basic services.
In a statement, Oman's Ministry of Finance that the signing comes within the framework of development cooperation between the two sides to support development areas in the Sultanate.
The memorandum aims to encourage the private sector to contribute to the economic development of the Sultanate of Oman in accordance with "Oman Vision 2040", it added.
Omani Minister of Finance, Sultan Al-Habsi, discussed with the CEO of the Saudi Fund for Development, Sultan Al-Murshed, on the sidelines of the signing of the memorandum, mechanisms of cooperation between the two sides and developments in joint development projects. (end)
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