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Salalah hosts Omani-Yemeni forum to bolster trade ties

24 Jan 2024 Salalah hosts Omani-Yemeni forum to bolster trade ties By OUR CORRESPONDENT

Salalah – In a well-planned programme for boosting trade and investment relations between Oman and Yemen, Dhofar governorate began a two-day forum at the Sultan Qaboos Youth Complex for Culture and Entertainment in Salalah on Wednesday.

The Omani-Yemeni Forum for Facilitating Investment, organised by the Oman Chamber of Commerce and Industry’s Dhofar branch, in cooperation with the Dhofar Governor’s Office, was sponsored by H H Sayyid Marwan bin Turki al Said, Governor of Dhofar.

The forum – attended by Mohammed Hizam al Ashwal, Yemen’s Minister of Industry and Trade – is reviewing ways to enhance investment opportunities for Yemeni investors and simplifying the investment process for Yemeni companies in Oman.

The speakers at the forum are also going to dwell on the commercial laws and investment determinants, when they go about highlighting Oman’s investment environment and the promising sectors outlined in Oman Vision 2040. Their focus areas are manufacturing industries, agriculture, fisheries, logistics services, education, and scientific and innovative research, which were thought to be important in establishing effective partnerships between the business owners of the two neighbouring countries.

On the inaugural day, the forum was taken through an audi-visual presentation on Dhofar’s investment resources and components. It included several working papers and dialogue sessions, with contributions from specialists in government and private sectors linked to trade and commerce.

An accompanying exhibition was also inaugurated on Wednesday, it was informed.

In his speech, Nayef bin Hamid Fadel, head of OCCI’s Dhofar branch, emphasised on the forum’s goal of expanding the national economy by diversifying the income sources.

Fadel highlighted Oman’s numerous advantages and promising investment opportunities, encouraging the establishment of large investment projects. He noted that trade between Oman and Yemen reached about RO112mn until October 2023, emphasising Dhofar branch’s commitment to building economic and investment bridges and showcasing Oman’s investor-friendly legislation.

Nabil Saeed Ghanem, chairman of Yemen’s Al-Ghanem Trade and Investment Group, spoke about the scope for cooperation and investments in the fields of mining, tourism, fisheries, and logistical support.

The Yemeni business leader underlined the shared history, geography, customs, traditions, and social ties between Oman and Yemen as vital factors in enhancing economic and trade relations.

The forum seeks to have an exchange of experiences, while working on ways to improve work and product quality, promote innovation and development, and contribute to the two countries’ economic growth.

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