Tuesday, December 05
01:58 AM

Oman, Switzerland explore investment opportunities in infrastructure, tourism


Muscat – Represented by the Ministry of Transport, Communications and Information Technology, the sultanate participated in the third edition of the Oman-Switzerland Business Forum held in Lucerne on Friday. The objective of the forum was to enhance the role of the private sector, achieve economic diversification and financial sustainability, and attract foreign investment.

The forum was organised by Oman-Switzerland Friendship Association and the Advisory Organization for the Swiss Export and Investment Programme in Lucerne.

The forum was held under the theme ‘Opportunities for Investment and Cooperation in Renewable Energy, Infrastructure and Tourism.’

In a speech on the occasion, H E Khamis Mohammed al Shamakhi, Undersecretary for Transport in the Ministry of Transport, Communications and Information Technology, outlined the advantages offered by the infrastructure sector in Oman, notably investment opportunities in the field of transport and logistics.

At a workshop on the sidelines of the forum held on Saturday, H E Shamakhi highlighted other unique advantages such as Oman’s geographical location, its developing infrastructure, its ports and other facilities for investors.

In an interview with Arab-Swiss Chamber of Commerce and Industry, Dr Anka Kastner, Board Member of Oman-Switzerland Friendship Association, said these forums are a platform to demonstrate the potential of deepened partnership between Oman and Switzerland. The two countries have maintained diplomatic relations for 50 years, and a free trade agreement has been in force since 2014. Currently, Switzerland is the ninth largest investor in Oman.

“In October 2022, we focused our forum on the umbrella topic of ‘Innovation and Sustainability’ and presented best practices in cooperation in the areas of finance and investment, digitalisation, cleantech and tourism to more than 150 entrepreneurs, representatives of authorities and ministries,” Anka said.

The 2023 forum holds huge potential for the Swiss supplier industry in the energy, cleantech and infrastructure sectors, she added. “Similar opportunities arise in tourism. According to its Vision 2040, Oman plans to invest around RO20bn and create more than half a million jobs. Switzerland, with its world-renowned top hotel schools and its reputation as a tourism destination, is the logical partner for Oman in this development.”

© 2021 Apex Press and Publishing. All Rights Reserved. Powered by Mesdac