Oman–Saudi Arabia agree to form joint company 'G7'

MUSCAT: The Oman-Saudi Arabia Business Forum was held on Wednesday at the Oman Convention and Exhibition Centre, bringing together government officials, business leaders, and investors to strengthen economic collaboration between the two Gulf neighbors.

The forum, organized as part of the Omani-Saudi Franchise Exhibition by the Oman Chamber of Commerce and Industry (OCCI) in cooperation with the Federation of Saudi Chambers, focused on identifying promising opportunities for trade, investment, and industrial integration.

Omani representatives delivered visual presentations showcasing the services and programs offered by OCCI to support the business community.

They also highlighted incentives available through the “Invest Oman” platform, new investment prospects identified by the Oman Investment Authority, and industrial opportunities facilitated by the Public Establishment for Industrial Estates (Madayn).

Saudi participants outlined the Kingdom’s investment environment, sharing insights into economic reforms, regulatory developments, and key sectors identified under Saudi Vision 2030.

A special dialogue session titled “The Reality and Prospects of Economic Integration and Cooperation between the Sultanate of Oman and the Kingdom of Saudi Arabia” examined ways to expand bilateral trade, promote industrial integration, and boost private-sector partnerships.

The forum also featured B2B meetings between Omani and Saudi business owners, paving the way for direct agreements and new strategic collaborations.

In a key development, both sides announced the establishment of a joint Omani-Saudi company named “G7”, to be managed by the Serapis Entertainment Group.

The new venture will focus on tourism promotion, brand and franchise marketing, as well as the organization of conferences, exhibitions, and international festivals.