OCCI participates in Iraqi Franchise Expo in Baghdad
Baghdad: Oman Chamber of Commerce and Industry (OCCI) is taking part in the 2nd edition of the Iraqi Franchise Expo in Baghdad.
OCCI delegation is led by Eng. Hamoud Salim Al Saadi, Second Deputy Chairman of the Board of Directors of Oman Chamber of Commerce and Industry, Chairman of OCCI Commercial Franchise Centre Committee.
Two franchise agreements were inked by Omani franchise firms during the first day of the exhibition. The first agreement was signed by Mohammed Sagheer Qassim Al Maamari, owner of the 'Brothers of Silver' brand. The second agreement was signed by Issa Saleh Al Aghbari, owner of the Omani brand 'Seven Fries'.
The OCCI's pavilion at the expo featured more than 15 leading Omani brands that seek to explore franchising opportunities and enter the Iraqi market.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Times of Oman
an hour ago
- Times of Oman
Oman to generate 30% of power from renewables by 2030
Muscat: Oman is making significant strides in implementing green energy projects, aiming to generate around 30% of its total electricity production from renewable sources by 2030, in line with Oman Vision 2040. Eng. Salim bin Nasser Al Aufi, Minister of Energy and Minerals, revealed that five to six new renewable energy projects utilising wind and solar power will begin this year, with a strong focus on wind energy due to Oman's favourable conditions for wind-powered electricity generation. Speaking to Oman News Agency, he stated that these projects will be established in locations where wind energy measurements have been conducted, primarily in Al Wusta and Dhofar governorates. They are expected to be operational by the end of 2027, producing over 2,000 megawatts of electricity. The Ministry of Energy and Minerals is collaborating with Nama Group and the Authority for Public Services Regulation to explore the best ways to store renewable energy, whether through conventional or innovative methods tailored to Oman's needs. A formal announcement regarding the first renewable energy storage project in the Sultanate is expected soon. Eng. Al Aufi emphasised that these projects will strengthen Oman's transition to renewable energy and open new opportunities for industries reliant on clean energy. Oman has already inaugurated the 'Manah 1' and 'Manah 2' renewable energy stations with a combined capacity of approximately 1,000 megawatts. Initial results indicate that each station has exceeded expectations, producing over 500 megawatts. Furthermore, the Ministry of Energy and Minerals, along with the Ministry of Transport, Communications, and Information Technology and Petroleum Development Oman, is working on establishing a hydrogen transport corridor. This project involves developing hydrogen production and refuelling stations within concession areas to supply hydrogen as fuel for trucks operating in these regions.
Times of Oman
an hour ago
- Times of Oman
Credit granted by banks in Oman reaches OMR33.6bn
Muscat: The total credit granted by the Omani banking sector rose by 9 percent to OMR33.6 billion by the end of April 2025. Data issued by the Central Bank of Oman (CBO) indicated that credit granted to the private sector grew by 7 percent, reaching OMR27.8 billion by the end of April 2025. Data on its distribution across various sectors indicate that the non-financial corporate sector accounted for the largest share, representing 46.6 percent by the end of April 2025, followed by the individual sector at 44 percent. The remaining share was distributed between the financial corporate sector at 5.6 percent and other sectors at 3.7 percent. Total deposits in the Omani banking sector grew by 9.3 percent, reaching OMR32.8 billion by the end of April 2025. Within this total, private sector deposits in the banking system increased by 7.1 percent, reaching OMR21.5 billion by the end of April 2025. When looking at the distribution of the total private sector deposit base across various sectors, the figures indicate that the individual sector holds the largest share, amounting to approximately 50.3 percent, followed by the non-financial corporate sector and the financial corporate sector with shares amounting to 30.4 percent and 17.0 percent, respectively. The remaining percentage (2.3 percent) was distributed across other sectors. Domestic liquidity hits OMR25.1bn Domestic liquidity in the Sultanate of Oman registered a remarkable growth by the end of January 2025, reaching OMR25.61 billion, a 7.2 percent increase compared to the same period in 2024, when it reached OMR23.375 billion. Preliminary data released by the National Centre for Statistics and Information (NCSI) showed that total loans and financing provided by commercial banks and Islamic windows rose by 6.5 percent to OMR32.47 billion by the end of January 2025, compared to OMR30.48 billion by the end of January 2024. The average interest rate on total loans also rose by 1.1 percent to 5.608 percent by the end of the same period. In the same context, private sector deposits in commercial banks and Islamic windows increased by 7.2 percent to OMR20.967 billion by the end of January 2025 compared to OMR 19.559 billion by the end of January 2024. Total foreign assets at the Central Bank of Oman (CBO) also increased by 5.3 percent reaching OMR7.096 billion by the end of January 2025 compared to OMR6.741 billion during the same period in 2024. As for the narrow money supply (M1), which consists of total cash outside the banking system in addition to current accounts and demand deposits in local currency, it witnessed a significant increase of 15.5 percent reaching OMR7.32 billion compared to OMR6.90 billion at the end of January 2024. On the other hand, cash issued decreased by 8.3 percent to reach OMR1.44 billion by the end of January 2025 compared to OMR1.57 billion by the end of January of the previous year. The effective exchange rate of Omani riyal rose by 2.7 percent to reach 119.1 points, compared to 116 points at the end of January 2024.
Times of Oman
an hour ago
- Times of Oman
Total investment in Al Buraimi Industrial City hits OMR274mn
Muscat: Al Buraimi Industrial City, affiliated with the Public Establishment for Industrial Estates (Madayn), successfully signed 16 investment contracts in 2024, with a total investment value of OMR7,970,000. These contracts involve establishing projects on areas exceeding 165,000 square metres across various sectors, including automotive oil manufacturing, paper and cardboard, food, water, and cosmetics. Said bin Abdullah Al Balushi, Director General of Al Buraimi Industrial City, stated that the industrial city has recorded an outstanding performance during 2024 as the cumulative investment volume has now exceeded OMR274 million. 'This is attributed to the constant efforts by Madayn to create a competitive and attractive business environment for investors, while emphasising on job creation, supporting small and medium enterprises, and promoting economic diversification and sustainable industrial growth in line with Oman Vision 2040." Al Balushi pointed out that the dualisation of Al Buraimi–Mahdah Road, currently being implemented by the relevant authorities in coordination with Madayn, represents a key project of strategic significance, serving as a main artery linking the Wilayat of Mahdah with Al Buraimi Governorate. The road will connect to both Phase 1 and Phase 2 of Al Buraimi Industrial City, providing major solutions for organising entrances and exits to each phase, ensuring smooth access between them, and ultimately serving investors by saving time and effort. He added that Al Buraimi Industrial City signed a cooperation agreement last week with Al Buraimi University College to enhance collaboration through knowledge exchange, events and activities, training of students and national cadres, and support for research and innovation projects. It is worth noting that Al Buraimi Industrial City spans 14,414,294 square metres, of which 4,247,099 square metres area is already developed. Strategically divided into two geographically distinct phases, the industrial city enjoys a prime location along the Sultanate of Oman's border with the United Arab Emirates. This unique positioning offers investors and companies seamless access to the GCC markets—particularly the UAE—enhancing the city's competitive advantage through efficient cross-border trade, streamlined logistics, and proximity to major highways that connect directly to key Omani ports such as Sohar Port. Al Buraimi Industrial City is home to a diverse range of sectors, including food industries, manufacturing, logistics and warehouse services, as well as chemical and plastics industries—making it a dynamic hub for industrial growth and regional connectivity.
