Muscat – The Ministry of Transport, Communications and Information Technology (MTCIT) has signed a memorandum of understanding (MoU) with Sindbad Overseas Company to enhance cooperation in developing the maritime sector in line with Oman Vision 2040.

The agreement was signed by H E Khamis bin Mohammed al Shammakhi, Undersecretary for Transport at MTCIT, and Mohammed al Balushi, Chairman of the Board of Directors at Sindbad Overseas.

The MoU aims to explore investment opportunities in Oman’s shipping and maritime sectors, identify new business prospects in regional and international markets, and facilitate collaboration in areas such as marine leasing, shipping, investment, finance, and insurance.

Additionally, the agreement seeks to strengthen trade relations, foster long-term partnerships among stakeholders, and leverage Sindbad Overseas’ global expertise in the maritime industry. It also includes plans to develop ship registration under the Omani flag, organise specialised trade missions, and encourage knowledge exchange within the sector.