Oman seeks Japanese investment in Duqm SEZ
INVESTMENT DRIVE: Oman delegation led by SEZAD Chairman Yahya al Jabri begins 4-day visit to Tokyo, Osaka
The Special Economic Zone Authority of Duqm (SEZAD) kicked off its roadshow in Japanese capital here yesterday, September 10, aimed at attracting Japanese investment to Oman’s biggest industrial and maritime hub overlooking the Arabian Sea.
Yahya bin Saeed al Jabri, Chairman of the SEZAD, is leading the Omani delegation, which includes representatives of the Omani Authority for Investment Promotion and Export Development (Ithraa), Port of Duqm, and Oman Dry-dock Company, among other entities.
“The strategic location and political stability of Oman makes it an economic and investment hub in the region, with Duqm abutting sea-lanes that serve markets in the Arabian Gulf, Asian and Africa,” said Al Jabri at the ‘Invest in Duqm’ seminar held as part of the road-show.
He added that the Sultanate has achieved strong growth over the past years due to incentives provided by the government to investors as well as to developers of infrastructure projects. As well as simplifying procedures, providing incentives and encouraging investment policies, Oman is also a member of a number of international economic organisations and trade conventions, he noted.
The ‘Invest in Duqm’ seminar, Al Jabri said, showcases a full spectrum of investment opportunities offered at the SEZ. He invited Japanese businesses to make the most of the road-show to explore avenues to expanding trade, economic and political ties between the two countries. “The future is promising and investors — whether domestic or foreign — will benefit greatly from the investment incentives offered by the Omani government,” the Chairman said.
Tokyo is the first stop in a the fourday-long road-show. The delegation will also visit Osaka City and tour a number of sites for a firsthand look at Japanese expertise, as well as explore opportunities for collaboration.
For his part, Japanese Minister of State for Trade, Economy and Industry Yoji Muto welcomed the hosting of the seminar in Tokyo, while underlining the close relations between the Sultanate and Japan.
He said that Japan hopes to deepen relations between the two countries, stressing that the Sultanate is a very important country for Japan in all fields. He also called on the Omani side to take advantage of Japan’s technological expertise in advancing the Sultanate’s economic diversification drive.
Japan, the minister said, will contribute to Duqm investment through the Japan Bank for International Cooperation.
Diplomatic relations between Oman and Japan span over 40 years — a milestone that was commemorated with the visit of Japanese Prime Minister Shinzo Abe to the Sultanate in January 2014 during which he met with His Majesty Sultan Qaboos. A memorandum of understanding was also signed on the occasion, organising the dialogue and political consultations between the Ministries of Foreign Affairs of the two countries, as well as laying the ground for further cooperation in economic, educational and cultural areas.
There were also presentations by Saleh bin Hamoud al Hassani, Director-general of Investor Services SEZAD; Muhanna al Sinani, Investment Promotion Officer at Ithraa; Reggy Vermeulen, CEO — Port of Duqm; Eng Hilal al Kharusi, Executive Managing Director — Oman Oil Duqm Development Company; and Haitham bin Nasser al Taie, General Manager of Oman Drydock Company.