Business forum explores investment opportunities
MUSCAT: The Oman-Saudi Business Forum, organised by the State General Reserve Fund, reviewed the investment opportunities in the Sultanate in transport, ports, tourism, fish farming, mining, oil and gas sectors. It also discussed the prospects of increasing trade cooperation between the Sultanate and Saudi Arabia (KSA) yesterday.
The opening ceremony of the forum was held under the patronage of Sultan bin Salim Al Habsi, Deputy Chairman of the Board of Governors of the Central Bank of Oman. Al Habsi said that the relations between the Sultanate and Saudi Arabia are strong and solid, as the KSA is one of the main partners with the Sultanate.
He pointed out that the trade between the two countries reached $ 2.2 billion in 2017, reflecting the depth of the existing partnership and its future prospects.
He added in his speech that the Sultanate is considered as one of the most promising markets in the region as it has many elements that qualify it to occupy a prominent position among the advanced economies in the region and the world due to its geographical location and the completion of infrastructure, such as ports, airports and economic zones. He said that the Sultanate’s government offers many incentives and facilities to encourage joint investments and attract more foreign investments.
He explained that the Sultanate has witnessed a remarkable inflow of foreign investments in recent years. The total foreign direct investments in the Sultanate amounted to OMR9.339 billion at the end of 2017 compared to OMR8.069 billion in 2016.
On his turn, Eng. Ibrahim bin Abdul Rahman Al Omar, Governor of the KSA General Investment Authority said that there are opportunities to promote cooperation between the two countries in light of the great developmental movement witnessed by the Sultanate through the economic policies to stimulate and encourage the foreign investments and provide the necessary facilities for the establishment of investment projects.