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OABC hosts virtual Majlis to discuss economic stimulus plan, incentives

7 Apr 2021

Oman American Business Center (OABC) on Tuesday hosted a virtual Majlis with H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry, and Investment Promotion.

The event connected Omani and US companies with information on Oman’s new economic stimulus plan and answered questions from US investors interested in Oman, according to a press release.

The session presented a unique opportunity for members of OABC to engage and ask specific questions to better understand the vision and future plans of the Ministery of Commerce, Industry, and Investment Promotion (MoCIIP).

H E Yousef discussed incentives for foreign investors and other key information about how the plans will impact the future and Oman’s Vision 2040. The session also addressed business continuity and steps to mitigate the challenges faced by companies due to the pandemic.

OABC president and chairman Ali Daud opened the session and thanked the official guest of honor H E Leslie Tsou, US Ambassador to Oman, before introducing H E Yousef and the session’s moderator, OABC board member and treasurer, William Crew of Inspired Solutions.

OABC compiled a list of questions received from its member companies, and during the event, executives were also given the opportunity to ask questions directly via chat.

“We commend H E Yousef’s willingness to sit down together and engage with questions from the business community,” Daud said. “We trust that this first virtual Majlis may pave the way for more interaction, discussion, and future sessions between the public and private sectors within Oman. We would also like to thank our partner, the bilateral US-Arab Chamber of Commerce, who supported the invitation of their membership as well to this event.”

He further said, “It is notable that in spite of, and even because of, the difficult and unique situation the world is facing today, US companies can learn about what Oman has to offer through an online platform rather than physical travel.

“We hope that new opportunities and connections will be made through these efforts and initiatives during this time, as well as the future, as Oman moves towards its Vision 2040.”

As the official affiliate of the US Chamber of Commerce in Oman (AmCham Oman), the OABC promotes understanding, partnerships and other matters of mutual economic interest between business communities in Oman and the United States.

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