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Oman Vision 2040, Saudi Vision 2030 go hand in hand

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The current visit of Prince Mohammed bin Salman al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia (KSA), assumes great significance and will reflect positively at various levels of cooperation, which do not only lie in the border crossing but also leveraging the Sultanate of Oman's geographical and strategic location.

Even though the visit of Prince Mohammed is private, it assumes great significance and reflects positively at various levels.

Oman and Saudi Arabia constitute basic pillars in the GCC, and they carry strategic weight towards advancing joint Arab action. The two countries share identical views towards domestic development, and their visions are enshrined in Oman Vision 2040 and Saudi Vision 2030.

The 'Saudi Vision 2030' and the 'Oman Vision 2040 are similar in many ways, and both sides can benefit from each other.

While Oman Vision 2040 is the Sultanate of Oman's gateway to overcome challenges, keep pace with regional and global changes, generate and seize opportunities to foster economic competitiveness and social well-being, Saudi Vision 2030 is a strategic framework to reduce Saudi Arabia's dependence on oil, diversify its economy, and develop public service sectors such as health, education, infrastructure, recreation, and tourism.

Oman and the Kingdom of Saudi Arabia (KSA), led by His Majesty Sultan Haitham bin Tarik and the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz al Saud of the KSA, enjoy economic and investment cooperation in all fields.

Previously, the two countries reaffirmed plans to engage in joint investment in advanced technologies, innovation, renewable energy projects, industry health, real estate, tourism, petrochemical converting industries, supply chains, logistics partnership, information technology and financial technology.

The achievements made over the past year and the active exchange of visits among officials reflect the keen desire of the two countries to work together. This includes the establishment of the Omani-Saudi Investment Forum held last August in Muscat, where several agreements and memoranda of understanding were signed between business persons.

High-level officials and delegations have made reciprocal visits in recent years to integrate Oman's Vision 2040 and Saudi Arabia's Vision 2030 — two development and economic diversification agendas designed to create vibrant, modern economies that offer young citizens exciting new career paths and improve the overall quality of life.

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