Oman woos UK investors
British Investors’ Bureau launched to market investment opportunities
london, United Kingdom - A conference called ‘New Energy in Oman’ was held in London on Wednesday under the patronage of H E Abdulsalam bin Muhammad al Murshidi, chairman of Oman Investment Authority.
It aimed to promote the sultanate as a global destination for investment in green energy, besides developing collaborative renewable energy partnerships that pool resources to tackle climate change and boost Oman’s green growth and energy efficiency.
Organised by the Ministry of Commerce, Industry and Investment Promotion, in cooperation with the Foreign Ministry, the conference had representation from the Omani Embassy in London, the Ministry of Energy and Minerals, the Anglo-Omani Society and the Omani British Friendship Association.
H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, launched the British Investors’ Bureau at the meet.
The bureau will help market investment opportunities and find strategic partnerships to establish investment projects to achieve sustainable economic development and promote Omani non-oil exports.
“The interest in the British market stems from the fact that it is the largest investment partner of Oman. This partnership has expanded in the past few years to include several sectors, most notably oil and gas, technology, infrastructure, defence and education,” H E Yousef said.
Oman strongly supports renewable energy projects through the National Energy Strategy and Oman Vision 2040, which encourage the gradual transition to a low-carbon economy
H E ASILA AL SAMSAMIYA
By the end of 2020, the UK had invested RO7.112bn in Oman. Oman Investment Authority (OIA) signed an agreement with the UK in January to enhance investment cooperation in the fields of clean energy and information technology. “The conference and Oman delegation’s visit is an effort to work further on that agreement.”
H E Asila bint Salem al Samsamiya, Undersecretary for Investment Promotion in the Ministry of Commerce, Industry and Investment Promotion, presented opportunities in the fields of renewable and low carbon energy, manufacturing, tourism, fisheries, mining and logistics. “Oman strongly supports renewable energy projects through the National Energy Strategy and Oman Vision 2040, which support the gradual transition to a low-carbon economy.”
She informed that a team has been formed to unify efforts in renewable energy and hydrogen projects to define a clear strategy and set controls for project distribution to achieve the best exploitation of natural resources.
Among the speakers were Saleh Zakwani, executive chairman of Apex Media and chairman of Omani British Friendship Association, Haifa al Khaifi, finance director of PDO, and Najla al Jamali, chief executive of alternative energy at OQ.
During a discussion session, CEOs of Omani companies affiliated with OIA presented investment opportunities available in Oman, the procedures and facilities provided by the sultanate for investment projects in renewable energy, the promising opportunities in the sector, and the sultanate’s level of readiness to be a leading country in the field.
OIA also presented several readymade investment opportunities to British investors at the conference.