OCCI, BCCI discuss economic cooperation
Chairman of the Oman Chamber of Commerce and Industry (OCCI), Ridha bin Juma al Saleh, has affirmed the depth and strength of the Bahraini-Omani economic, trade, investment and social relations.
Saleh was speaking during his visit to the Bahrain Chamber of Commerce and Industry (BCCI), leading an Omani economic delegation, along with the Bahraini Ambassador to Oman, Dr Jumaa al Kaabi, to be informed about the kingdom’s experience in the fields of business incubators, and the facilities provided for start-ups, entrepreneurs and small and medium-sized enterprises.
The OCCI chairman stressed the importance of holding bilateral meetings in consolidating joint economic and investment action across various fields, especially regarding the provision of the GCC market with the necessary food commodities and agricultural products.
He indicated that the two countries are seeking to create a strategic partnership through increasing the volume of trade exchange, by investing in the distinctive opportunities in the Omani market related to food security in cooperation with Bahrain’s BCCI. He noted, that in
Oman, the investment atmosphere and laws grant foreign investors 100% ownership of the companies, in addition to
Oman's strategic location as a commercial centre.
He highlighted the importance of exchanging delegations and visits at the commercial and industrial levels between the two brotherly countries, strengthening cooperation between OCCI and BCCI and enhancing the role of SMEs and entrepreneurship to exchange experiences in this field, stressing the importance of facilitating the export and import of goods and services between the two parties and the establishment of joint projects to serve the two countries’ economies.
Dr Kaabi stressed the importance of boosting the BahrainiOmani economic relations, through taking steps aimed at developing joint cooperation between business owners, institutions and companies at the level of SMEs and entrepreneurship, as well as opening up new horizons for the trade, business and investment sectors, and encouraging the establishment of joint companies and projects between the business sectors in the two countries.
He added that the Bahraini
Omani Joint Committee had identified a number of areas of economic cooperation that can be discussed through the exchange of experiences and joint visits, in order to serve bilateral trade cooperation, including promising sectors for investment, such as food security and mining, as well as the financial and banking sector.
Acting BCCI CEO, Dr Abdulla al Sada, presented an overview of the role played by the official authorities in the Kingdom in supporting entrepreneurship and start-ups through services provided via business incubators and accelerators for a specific incubation period, such as joint work spaces, guidance and counseling, marketing, commercial and financial planning and public relations.
He also indicated that business incubators and accelerators offer comprehensive training programmes in the administrative, marketing, financial and economic aspects, in addition to providing advice and guidance related to operations and financial planning and the best ways to obtain financing.