French syndicate to explore business avenues in Duqm
Times News Service
MUSCAT: Four leading French companies have come together to create the French Business Syndicate, with the purpose of exploring business opportunities in Duqm.
The move is expected to further strengthen the existing business relationship between Oman and France. The announcement was made during a business event organised under the auspices of Yahya Al Jabri, Chairman of the Special Economic Zone Authority of Duqm (Sezad), and Renaud Salins, French Ambassador in Oman.
Al Jabri welcomed French investments in Duqm. He said the agreement reached by the four companies to study investment opportunities in the zone was in line with the aspirations of the Authority to diversify investments in the economic zone.
“There are direct and indirect economic gains to cover the strategic goals of Sezad and Ithraa of boosting the local economy, as well as tightening business ties between both countries,” Salins said.
The four founding companies of the French Business Syndicate are CMA CGM, Électricité de France (EDF) Renewables, Fives and SUEZ. They announced the creation of the group with the goal of assessing investment possibilities in each of their respective fields of activity, as well as the possibility of cooperating to bring higher value-propositions within the guidelines defined by Sezad and Ithraa.
In particular, the group showed interest in a global approach to cement factory ecosystems and related facilities.
As part of their joint efforts, the syndicate members also proposed to implement an educational programme to enhance the integration of Omani young generations in the projects they will be entrusted with.