New Report to Map Oman’s Plans for Driving Sustainable Growth
Oman’s efforts to attract investment for key sectors of the economy will be explored in a forthcoming report by the global research and advisory company Oxford Business Group (OBG).
The Report: Oman 2022 will highlight the sultanate’s plans to enhance its business environment and diversify the economy, in line with the targets outlined in its Vision 2040 roadmap, which has sustainable development at its core.
There will be in-depth coverage of the areas of the economy earmarked for expansion, with logistics, mining, fisheries, agriculture, manufacturing and the shift to a knowledge-based innovative society among those set for analysis.
The report will also look in detail at Oman’s bid to nurture its downstream industries and broaden the energy mix, as part of the country’s diversification strategy and drive to ensure new growth is sustainable.
OBG has agreed a first-time memorandum of understanding (MoU) with the Ministry of Commerce, Industry and Investment Promotion (MOCIIP) as it begins work on The Report: Oman 2022.
Under the agreement, MOCIIP will team up with OBG to produce the Group’s first post-pandemic analysis of Oman’s investment opportunities and economic development, and other related content.
The MoU was agreed by Dana Carman Agarbicean, Country Director OBG, and Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion.
The MoU was formally signed at the ‘New Energy in Oman’ conference held in London on July 27, under the auspices of of Abdulsalam Al Murshidi, Chairman of the Oman Investment Authority.
The event highlighted opportunities for expanding trade and investment ties between the UK and Oman, particularly in the areas of renewable energy and clean energy solutions.
Commenting after the signing Asila Al Samsami, Undersecretary, Investment Promotion, Ministry of Commerce, Industry & Investment Promotion said: “The potential to strengthen trade and investment links with the UK is clear.
"I encourage British companies looking to expand their market reach in the Gulf to strongly consider Oman as a base for their operations.”
Speaking from the sidelines of the conference, Al Yousef said: "This was an ideal time to highlight investment opportunities in Oman as a GCC-UK Free Trade Agreement (FTA) edges closer to completion.
“The UK–GCC Free Trade Agreement will deepen the historic business ties we already enjoy with the UK, unlocking significant opportunities for the Sultanate of Oman’s ambitious business community. It will help enhance our competitive position in the UK market as well as boost growth.
"It will also present opportunities in renewable energy, manufacturing, logistics, tourism, mining, fisheries and education. Sectors important to the success of Oman Vision 2040 and areas where the UK is a global leader."