Hussam Abdulnabi (Dubai)
The Sultanate of Oman is promoting 50 investment opportunities offered to foreign investors in the first half of this year, within several industrial sectors, during the activities of the “Invest in Oman” forum, which was held yesterday during the “Expo 2020 Dubai” activities, on the sidelines of the Sultanate of Oman’s celebration of its 51st National Day. Where the participants in the forum unanimously agreed that Expo 2020 Dubai is a global event and an international platform through which investment opportunities can be presented and the investment environment in different countries can be promoted.
Hawra Al Wahaibi, Director of the Investment Promotion Department at the Ministry of Commerce, Industry and Investment Promotion in the Sultanate of Oman, said that “Expo 2020 Dubai” is a global platform to promote investment opportunities in various investment destinations and to familiarize foreign investors with the investment environment in different countries.
She stressed that for this purpose, the Sultanate of Oman is promoting 50 investment opportunities in the industrial sectors in general, which were announced during the first half of this year, as preliminary studies are available on these opportunities and are available to investors from all countries of the world, noting that the organization of the “Invest in Oman” forum It comes as part of the ministry’s efforts to promote the investment climate in the Sultanate of Oman, which also includes facilitating the visit of trade delegations to the UAE and various Gulf countries.
Al-Wahaibih announced that the total value of foreign direct investments in the Sultanate of Oman amounted to about 40 billion US dollars, and most of them were concentrated in the industrial and oil and gas sectors. She stated that the UAE is among the 3 most important investing countries in the Sultanate, along with the United States of America and the United Kingdom, revealing that the development of the “Invest in Oman” platform was recently announced and is currently under development, and aims to be an electronic window to present investment opportunities in Oman and to enable Investors in all countries of the world know how to invest in the Sultanate and get all the services available.
metal line
For his part, Ahmed Tabuk, Director General of Commercial Affairs in the Free Zones “ASYAD” revealed that there is a study on finding a railway line for minerals within the Sultanate of Oman, where materials are transported from the quarries to the port in the central region for export.
In turn, Ibtisam Ahmed Al-Frouji, Director General of Investor Services at the Public Establishment for Industrial Estates (Madayn), stated that the participation of the Sultanate of Oman in “Expo 2020 Dubai” and the organization of the “Invest in Oman” forum aim to enhance cooperation and investment opportunities between the UAE and the Sultanate of Oman, where opportunities are presented. Investment in the economic and free zones and various industrial zones, noting that the UAE is one of the most important investing countries in the Sultanate, and therefore investment opportunities in the field of developing and operating new industrial zones will be presented during the forum.
Nassima Al Balushi, Director General of Planning at the Ministry of Commerce, Industry and Investment Promotion in the Sultanate of Oman, stated that there are 6 main factors that motivate investors to invest in the Sultanate of Oman, which are political stability, quality of life, ease of doing business, distinguished international relations with countries around the world, as well as infrastructure. The distinguished, strategic location of the country, which is linked to about 54 million consumers in the Gulf region.
friendly environment
The Ministry of Commerce, Industry and Investment Promotion in the Sultanate of Oman confirmed that the investment environment in the Sultanate is a friendly environment for investors in terms of the absence of taxes on personal income, 100% foreign ownership, legal transparency, and competitive prices for facilities, as well as no restrictions on capital or Return of profit, currency exchange or profit transfers. The Sultanate also imposes a tax rate that does not exceed 15% on taxable companies. She pointed out that the most important investment sectors in the industrial cities are solar and renewable energy, petrochemical industries, building materials, chemical industries, information and communication technology, as well as warehouses, logistics, packaging, paper industries and medical equipment.
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