Muscat: The Sultanate of Oman and the Kingdom of Saudi Arabia (KSA) have signed 13 memoranda of understanding to activate joint action in promising economic sectors.

The pacts, sealed by firms owned by Oman Investment Authority (OIA) with Saudi counterparts, in coincidence with the visit of HRH Prince Mohammed bin Salman Al Saud, KSA Crown Prince, Deputy Prime Minister and Minister of Defence. They manifest the two countries leaderships’ vision aimed to meet the aspirations of their peoples.

The MoUs also included an MoU between International Business Development (“IBD”) and Alkhorayef Petroleum. Sayyid Mohammed Al Said has signed on behalf of International Business Development (“IBD”).