Muscat – In a novel initiative, the people of Dhahirah are being offered shares of a company set up to further economic growth and development in the governorate.

A closely held joint stock company established in 2021, Al Dhahirah Company has been mandated to highlight the governorate’s unique strengths. Members of communities in the governorate can be shareholders, earning profit from the area’s economic growth and development.

The company – with close to 2,400 shareholders from the wilayats of Ibri, Dhank and Yanqul – opened its office in Muscat recently under the auspices of Abdulsalam al Murshidi, President of Oman Investment Authority. The company aims to coordinate investments across vital economic sectors targeted for economic growth in Dhahirah, while yielding new investment opportunities.

The office inauguration included a signing ceremony with key stakeholders. “Our new office and strategic partnerships with stakeholders from different sectors indicate our long-term ambition to become a tier-one company that further unlocks the potential of Dhahirah governorate. We are committed to driving strong economic growth in the region and, thus, contributing to the nation. We are optimistic about future opportunities and a high return on investment for our shareholders,” said Abdulrahman al Yahyaei, Chairperson of Al Dhahirah Company.

It signed several MoUs with reputed entities in Oman, including one with Public Authority for Special Economic Zones and Free Zones (OPAZ) signed by its deputy chairman Ahmed al Theeb and Yahyaei. The partnership is for establishing, developing and operating a dedicated integrated station for truck services near the land port within the Integrated Economic Zone in Dhahirah.

Al Dhahirah Company will also cooperate with Oman Broadband Company to invest in developing cutting-edge infrastructure to enhance the region’s connectivity. An MoU was signed for this by Sultan al Wahaibi, CEO of Oman Broadband, and Ibrahim al Balushi, COO of Al Dhahirah Company.

Additionally, agreements were signed with Tamkeen Oman and Schlumberger to cooperate in the area of downhaul tools rental services.

Al Dhahirah Company will continue to coordinate investments across sectors in the governorate, including oil and gas and industries targeted by diversification such as minerals, agriculture, tourism, manufacturing and waste management.