Arab News, Monday, Feb 06, 2023 | Rajab 15, 1444
KSA, Oman to support digital economy growth
Saudi Arabia, Oman: 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.