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Oman’s investment opportunities showcased to UK businesses

1 Dec 2020 By ONA

The Ministry of Commerce, Industry and Investment Promotion organised a forum titled ‘Invest In Oman’ in cooperation with the UK Department of International Trade on Tuesday to outline available investment opportunities in fields of tourism, logistics and financial services.

During the event, held via videoconferencing, H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, commended the depth of economic ties between the sultanate and the UK. He pointed that the bilateral economic cooperation covers a wide range of sectors, including oil and gas, technology and infrastructure.

The UK is the largest investor in the Omani market in terms of volume of direct investments, with the trade balance standing at RO7.5bn at the end of the first quarter of 2020, compared to RO7.3bn during the corresponding period last year. 

H E Yousef said that the sultanate has the right setup for investment and business activities and that it represents an ideal gateway for flourishing regional and international markets.

The forum reviewed working papers presented by the Public Authority for Economic Zones and Free Zones, the Ministry of Transport, Communications and Information Technology, the Asyad Group and Petroleum Development Oman. It also explored the investment climate in the sultanate, its components and the incentives that it offers in the sectors of manufacturing and logistics services. The ministry outlined the services that it offers to entrepreneurs via the ‘Invest In Oman’ platform, which provides investors streamlined finalisation of transactions.

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