Bahraini delegation in Oman to tap investment prospects
Times News Service
MUSCAT: A delegation representing the Ministry of Industry, Commerce and Tourism in the Kingdom of Bahrain headed by Khalid Rabeea, assistant undersecretary for industrial areas, visited on Wednesday (Wednesday) the headquarters of the Public Establishment for Industrial Estates (Madayn) at the Knowledge Oasis Muscat.
The delegation was acquainted with the investment climate in the Sultanate and the available opportunities in the various industrial cities which pertain to Madayn.
Hilal bin Hamad Al Hasani, Chief Executive Officer of Madayn briefed the delegates on the vision of Madayn, which is to enhance the Sultanate’s position as a leading regional centre of manufacturing, ICT, innovation and entrepreneurship excellence, and its mission in attracting industrial investments and providing continued support, through regionally and globally competitive strategies, good infrastructure, value adding services, and easy governmental processes.
Al Hasani also elaborated on the objectives of Madayn which include attracting foreign investments to the Sultanate and localising the national capital; contributing to stimulating the private sector to achieve sustainable economic and social development; achieving environmental sustainability; and contributing to the creation of new job opportunities for the national cadres.
The delegation then visited the National Business Centre (NBC), which is an initiative launched by Madayn in KOM to offer promising Omani entrepreneurs a platform to develop their business ideas and advance them into growing ventures. Inaugurated in 2013, the centre provides a premier platform for Omani entrepreneurs by offering business development support and guidance, training and mentoring, access to markets and industry experts, and state-ofthe-art and fully equipped office space, meeting rooms and presentation facilities.
NBC offers intensive training, coaching and mentoring to the incubated companies to enhance their entrepreneurial skills through a cutting-edge environment that will allow the companies to flourish, network, form partnerships, and have access to business mentors.
The delegates also visited the Industrial Innovation Centre (IIC) which was initiated in 2010 to support the manufacturing sector and serve the industrialists in the field of innovation and research, and provide technical consultations and effective solutions for the development of existing industrial products.
The officials explained that IIC has been transformed into a commercial unit with the support of ‘Tanfeedh’. IIC programmes focus on capacity building, startups support, company innovation support, and sector innovation support.
The Bahraini delegates concluded their visit through meeting with officials at Al Rusayl Industrial City, where they were introduced to the industrial city which was established in 1983 under the name of Rusayl Industrial Estate Authority.
In 1993, Madayn was established to ensure continued success and development of the industrial sector in Oman. Today, Madayn manages and operates seven industrial cities in Suhar, Raysut, Nizwa, Sur, Al Buraimi, Al Rusayl, Samail, in addition to the Knowledge Oasis Muscat and Al Mazunah Free Zone.