Ithraa, PDO pact to boost investment in the Sultanate

MUSCAT: Businesses and government are joining forces to promote Oman to international investors. ‘Ithraa’, Oman’s Public Authority for Investment Promotion and Export Development, and Petroleum Development Oman (PDO) have signed a threeyear collaboration agreement aimed at helping raise Oman’s global business profile, assist local firms in expanding their business portfolios regionally and internationally, as well as promote PDO’s business opportunities.

Signing the agreement, ‘Ithraa’s’ Advisor for Planning & Follow-up, Sheikh Ali Al Balushi commented: “Ithraa has been successful in attracting investment into Oman and promoting non-oil exports for over 20 years.

Our priority is jobs and wealth creation. And to achieve this we are delighted to be joining forces with colleagues at PDO to promote Oman’s business offer. Indeed, this combination sends a strong and powerful message to firms looking to secure and develop a foothold in the growing Middle East market.”

PDO Managing Director Raoul Restucci said: “We are pleased to sign this agreement with Ithraa as it will help our efforts to promote Omani companies, such as our Super Local Community Contractors, on a regional and global stage.

“At the same, ‘Ithraa’ will support our drive to market a number of business opportunities in our concession area to potential investors and technical partners. Such partnerships will help deliver more value for Oman by highlighting the fantastic opportunities for foreign investment in the Sultanate and its growing business community.”