RIYADH: Reflecting the strengthening of economic and investment ties between Riyadh and Muscat, Omani companies signed multiple contracts and memoranda of understanding at the Saudi Food Show held last week.
Oman, represented by the Public Establishment for Industrial Estates, or Madayn, had fruitful bilateral discussions with key company executives, investors, commercial agents and suppliers from Saudi Arabia at the event held in Riyadh.
The agreements signed at the show underscored the long-standing partnership between the Kingdom and Oman, reinforced in recent years through several high-level engagements.
“These ties are highly valued and supported by the leaderships of both nations, demonstrating a commitment to fostering strong bilateral cooperation and facilitating increased trade exchanges,” said Abdullah Al-Kaabi, the acting head of strategy at Madayn.
In December 2021, Saudi Arabia and Oman announced the opening of the first land crossing between the Gulf states to promote trade exchange.
Additionally, in April last year, Saudi Minister of Investment Khalid Al-Falih met the chairman of the Oman Investment Authority, Abdulsalam bin Mohammad Al-Murshidi, to enhance cooperation between the two countries.
Al-Kaabi further noted that the event presented an excellent opportunity to increase the global presence of Omani firms and their products.
“We have observed interest from investors and businessmen in exploring investment prospects in the Sultanate and familiarizing themselves with the incentives and facilities provided by Madayn to promote an ideal business environment,” he added.
Aligning with Oman Vision 2040 objectives, the event allowed Madayn to explore new markets and introduce incentives to attract investors.
The Omani pavilion included small- and medium-sized companies such as Areej Vegetable Oils and Derivatives, Oman Foodstuff Factory, Salalah Mills, Majan Glass and Pragati Glass Gulf.
Last February, the Saudi-Oman Investment Forum and exhibition discussed various ways to enhance both nations’ long-term economic partnerships.
Held under the theme “Partnership and Integration,” the four-day forum aimed to build sustainable partnerships in key sectors and contribute to enhancing mutual interests between the two sides.
At the event, the Saudi Investment Ministry hosted a senior delegation from Oman, culminating in signing 13 MoUs in various sectors, including biochemical, energy and mining.
Saudi Arabia, Oman sign multiple MoUs at food show in Riyadh
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Saudi Arabia, Oman sign multiple MoUs at food show in Riyadh
Kuwait to boost Islamic finance with sukuk regulation
- The move supports sustainable financing and is part of Kuwait’s efforts to diversify its oil-dependent economy
RIYADH: Kuwait is planning to introduce legislation to regulate the issuance of sukuk, or Islamic bonds, both domestically and internationally, as part of efforts to support more sustainable financing for the oil-rich Gulf nation, Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah said on Wednesday.
Speaking at the World Governments Summit in Dubai, Al-Sabah highlighted that Kuwait is exploring a variety of debt instruments to diversify its economy. The country has been implementing fiscal reforms aimed at stimulating growth and controlling its budget deficit amid persistently low oil prices. Hydrocarbons continue to dominate Kuwait’s revenue stream, accounting for nearly 90 percent of government income in 2024.
The Gulf Cooperation Council’s debt capital market is projected to exceed $1.25 trillion by 2026, driven by project funding and government initiatives, representing a 13.6 percent expansion, according to Fitch Ratings.
The region is expected to remain one of the largest sources of US dollar-denominated debt and sukuk issuance among emerging markets. Fitch also noted that cross-sector economic diversification, refinancing needs, and deficit funding are key factors behind this growth.
“We are about to approve the first legislation regulating issuance of government sukuk locally and internationally, in accordance with Islamic laws,” Al-Sabah said.
“This enables us to deal with financial challenges flexibly and responsibly, and to plan for medium and long-term finances.”
Kuwait returned to global debt markets last year with strong results, raising $11.25 billion through a three-part bond sale — the country’s first US dollar issuance since 2017 — drawing substantial investor demand. In March, a new public debt law raised the borrowing ceiling to 30 billion dinars ($98 billion) from 10 billion dinars, enabling longer-term borrowing.
The Gulf’s debt capital markets, which totaled $1.1 trillion at the end of the third quarter of 2025, have evolved from primarily sovereign funding tools into increasingly sophisticated instruments serving governments, banks, and corporates alike. As diversification efforts accelerate and refinancing cycles intensify, regional issuers have become regular participants in global debt markets, reinforcing the GCC’s role in emerging-market capital flows.
In 2025, GCC countries accounted for 35 percent of all emerging-market US dollar debt issuance, excluding China, with growth in US dollar sukuk issuance notably outpacing conventional bonds. The region’s total outstanding debt capital markets grew more than 14 percent year on year, reaching $1.1 trillion.
