Oman to showcase its investment potential

A high-profile delegation from the Sultanate of Oman is set to participate in the seventh edition of the Annual Investment Meeting, AIM, from 2nd to 4th April at the Dubai World Trade Centre, under the theme "International Investment, Path to Competitiveness & Development."

"The Annual Investment Meeting 2017 is a very important event. It brings together different countries, companies, and authorities. It also provides the chance to meet and connect with investment experts and big investors under one roof. We believe that Sultanate’s participation in the seventh edition of AIM will help in creating investment opportunities in the Sultanate, and enhance the relations with the global investment entities from all over the world,'' said HH Sayyid Faisal Bin Turki Al Said, Director-General of Marketing and Media, Oman Public Authority of Investment Promotion and Export Development, ITHRAA.

Oman, he stated, has the potential to be a primary destination for investors. It enjoys a strategic location near the emerging markets in the Middle East, East Africa, and India. It also has a network of advanced logistic services, which helps investors to stay connected with international markets. The legal framework in Oman protects investors and helps them to grow their businesses.

"The Government of Oman focusses on the growth of specific sectors from 2015 to 2020, and these sectors are transformative industries, logistic services, tourism, Fisheries, and mining. The Sultanate welcomes them as well as investments in other sectors, be it secondary investments such as waste management, or supporting sectors such as educations and healthcare," he explained.

"This year, we in (ITHRAA) will keep our campaign ‘Invest in Oman.’ Our target is to position the Sultanate on the international investment map. ITHRAA showcases the opportunities, incentives, and proper investment climate in Oman. We focus on the targeted sectors in the country’s ninth five-year plan. We in (ITHRAA) prepared a study in 2015 to promote investment in the Sultanate, according to this study we chose highly important sectors to be promoted in 25 countries. We chose these countries based on many standards. We offer the investors many incentives to start their projects in the Sultanate, such as facilitate obtaining approvals and licences, find suitable partners, and issue commercial records," added HH Sayyid Faisal Bin Turki Al Said.

''UAE is the biggest investor in Oman among the Gulf countries. The UAE is also the second investor in Oman generally with over 46 percent of the FDI in the Sultanate in 2014. On the other hand, the volume of the commercial exchange between the two countries is growing constantly. In 2016, the volume of imports from UAE had crossed OMR4 billion, comparing to OMR1.3 in 2015," he said in conclusion.