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Over RO100mn agreements inked at Suhar Investment Forum 2024

26 Feb 2024

Suhar – The Suhar Investment Forum, organised by the Oman Chamber of Commerce and Industry (OOCI) branch in North Batinah Governorate, kicked-off on Monday at Radisson Blu Hotel, Suhar under the patronage of H H Sayyid Fahr bin Fatik al Said. The event was attended by several esteemed dignitaries, officials from the public and private sectors, and representatives from over 20 countries.

The forum witnessed the signing of business agreements worth over RO100mn between the Ministry of Housing and Urban Planning, Madayn, Sohar Port and Freezone and various entities for forthcoming projects. These will pave the way further growth of the North Al Batinah Governorate.

The primary objective of the forum is to showcase the economic and infrastructural potential of North Batinah Governorate. The region possesses a fertile and attractive investment environment, making it capable of attracting both local and foreign investments, as well as investors from around the world. The aim is to position North Batinah Governorate as a compelling investment destination.

In his opening speech, Eng Saeed bin Ali al Abri, Chairman of the OCCI branch in North Batinah Governorate and Chairman of the forum’s Organising Committee, emphasised the crucial role played by the Chamber in enhancing Oman’s position as an appealing investment destination. He also highlighted the importance of supporting the private sector in capitalising on various investment opportunities.

The forum serves as a platform to bring together leaders, officials, businessmen, and investors. It aims to shed light on the latest developments in the investment landscape of the governorate, as well as leverage its numerous advantages and benefits.

Abri emphasised that Oman possesses unique capabilities and qualities that position it as an attractive destination for international investments. This will contribute to strengthening Oman’s presence on the global investment map, attracting investments and seeking growth and expansion opportunities.

He further emphasised that the comprehensive two-day programme of the forum would serve as an ideal platform for interested investors to gain insights into the investment system and economic developments in Oman, with a specific focus on North Batinah Governorate. The forum would also highlight the rapid progress in the city of Suhar and its surrounding areas.

The first day of the forum featured numerous speeches, working papers, presentations, and discussion sessions. Government officials, industry experts, and representatives from various sectors of the business community actively participated in these sessions.

The forum included keynote speeches delivered by esteemed individuals such as H E Mohammed bin Sulaiman al Kindi, Governor of North Batinah, H E Ibtisam Ahmad al Farouji, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion, and Dr Khaled Hanafy, Secretary General of the Union of Arab Chambers.

At the forum, Mohammed bin Hamad al Abri, Director of the Studies and Research Department at OCCI, highlighted the investment opportunities facilitated by the Chamber. The presentation covered 104 investment opportunities in North Batinah Governorate, along with feasibility studies, amounting to a total capital of approximately RO1bn.

These investment opportunities spanned eight key sectors, including industry, logistics, circular economy, mining, food security, tourism, information technology, and healthcare. These opportunities are projected to generate around 9,000 job opportunities.

The forum also witnessed the signing of several agreements and memorandums of understanding. On the sidelines of the forum, an accompanying exhibition was organised that included several government and private institutions concerned with the investment sector in the Sultanate of Oman.

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