Oman, Bahrain explore strengthening ties
MUSCAT: Faisal bin Abdullah al Rawas, Chairman of Oman Chamber of Commerce and Industry (OCCI), on Tuesday received Abdulla Adel Fakhro, Minister of Industry and Commerce of the Kingdom of Bahrain.
The two sides discussed ways to enhance trade and investment cooperation between Oman and Bahrain, expanding opportunities for private sector partnerships in both countries through joint ventures and knowledge exchange, contributing to bilateral relations and economic integration.
The meeting also reviewed opportunities in key economic sectors of mutual interest and explored mechanisms to activate the private sector's role in establishing joint projects that support economic development in both nations.
Al Rawas emphasised the significant progress in economic relations between Oman and Bahrain, expressing hope that this meeting would lead to further initiatives boosting trade and investment cooperation while opening new avenues for business owners in promising economic sectors.
He highlighted the private sector's pivotal role in driving future cooperation through strategic partnerships and high-quality projects that align with both countries' development visions — "Oman Vision 2040" and "Bahrain 2030" — while praising the efforts of the Oman-Bahrain Investment Company and the Oman-Bahrain Friendship Society in strengthening bilateral ties.
The meeting was attended by several OCCI board members, executive officials and representatives from both sides. - ONA
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Observer
an hour ago
- Observer
Shipbuilding hub to boost Musandam's economy
In a major boost for Oman's marine and fisheries industries, Musandam Global Investment Company SAOC (MGIC) and its Turkish partners have signed binding commercial terms and a shareholders' agreement to establish Musandam Drydock and Marine Industries LLC, a shipbuilding and repair facility in Musandam Governorate. The deal was formalised in the presence of Dr Saud bin Hamoud al Habsi, Minister of Agriculture, Fisheries and Water Resources, and Sayyid Ibrahim bin Said al Busaidy, Governor of Musandam. The project, backed by an initial investment of $15 million, will support the construction and maintenance of aquaculture cages, fishing vessels, tugboats, and service and transport vessels up to 35 metres in length. It is set to serve both domestic and regional markets, aligning with Oman's strategy to enhance food security and marine industrial capacity under Oman Vision 2040. In an exclusive interview with the Observer, Raed al Shehhi, Chairman of MGIC, emphasised the project's strategic importance, "The launch of Musandam Drydock and Marine Industries LLC is aligned with our long-term strategy to build an integrated and diversified economy in Musandam. This project directly supports Oman Vision 2040 by fostering sustainable industrial growth, enhancing food security through support to fisheries, and creating meaningful employment.' According to Al Shehhi, the first phase of the project will include the development of slipways, fabrication workshops, and maintenance yards tailored for small to medium-sized vessels. The company will also build infrastructure for manufacturing and servicing aquaculture cages and coastal fishing boats. 'Phase one focuses on establishing the core shipbuilding and repair infrastructure. Future phases will likely include expansion to handle larger vessel classes, integration of smart technologies, and development of ancillary industries,' he explained. The decision to invest in this sector was driven by strong market signals, both nationally and regionally. 'The Sultanate of Oman has seen a steady increase in demand for modern fishing vessels and aquaculture infrastructure, in line with its national food security strategy,' Al Shehhi noted. "Regionally, the GCC marine sector is expanding, particularly in sustainable fisheries and coastal transport. However, there's a shortage of specialised facilities for these services — and we're stepping in to fill that gap.' Equally important to the project is its social and economic impact on the local community. MGIC has committed to an aggressive Omanisation and skills development programme, focusing on Musandam's youth. 'We are creating 50 direct jobs for the local community in the initial phase alone,' Al Shehhi said. 'We are also developing specialised courses in welding, marine mechanics, vessel design, and industrial safety, along with apprenticeship pathways. The aim is not just employment, but cultivating a generation of skilled professionals who can drive long-term growth in the marine sector.' The company's Turkish partners bring substantial technical know-how to the initiative. Their expertise in shipbuilding and modular construction will play a vital role in setting up world-class facilities and transferring knowledge to Omani technicians and engineers. 'Our partners bring experience in marine engineering and will support us in applying international best practices across the board — from project management and quality assurance to environmental compliance,' Al Shehhi affirmed. Beyond industrial development, the drydock project is expected to position Musandam as a strategic hub for marine services, leveraging its unique geography and proximity to key shipping lanes. The move represents another milestone in Oman's broader strategy to unlock regional development and local value creation in its northernmost governorate. The incorporation of Musandam Drydock and Marine Industries LLC signals more than just economic activity — it marks a commitment to sustainable, integrated growth built on innovation, partnership and local empowerment.
Observer
a day ago
- Observer
Pact signed to build integrated public bus station in Al Buraimi
MUSCAT: Al Buraimi Governorate and national transport operator Mwasalat have signed an agreement to establish a modern, integrated public bus station in the Al Uqda Al Shamaliya area of Al Buraimi. The facility will span 56,000 square metres and aims to enhance the public transport network in line with Oman Vision 2040. The project will feature an eco-friendly design and provide both inter-city and intra-city transport services. Key components include a smart taxi hub, a micro-mobility station, air-conditioned waiting areas, dedicated bus bays, offices for transport operators, retail shops, logistics services, and ample parking for cars and buses. The signing ceremony was held under the auspices of Eng Khamis bin Mohammed al Shammakhi, Under-Secretary for Transport at the Ministry of Transport, Communications and Information Technology. The agreement was signed by Sayyid Dr Hamad bin Ahmed al Busaidi, Governor of Al Buraimi, and Engineer Badr bin Mohammed al Nadabi, CEO of Mwasalat. According to the agreement, Mwasalat will act as the technical lead, responsible for the station's design standards, supervision, and eventual operation and management. The governorate will provide funding for infrastructure works and facilitate administrative and regulatory processes, including land use modifications. The site will be designated as the exclusive hub for public transport services in the governorate. Governor Al Busaidi highlighted the project's economic and social impact, stating that the new station will cater to a large number of public transport users. Currently, around 12 daily bus services run on the Muscat–Al Buraimi route, along with cross-border services to Abu Dhabi via Al Buraimi. Mwasalat CEO Al Nadabi added that the agreement also includes investment opportunities, with a tender to be floated for private sector participation. Construction is expected to begin within three months, with completion targeted within three years. — ONA
Observer
a day ago
- Observer
The community spirit: The new now of residential developments
MUSCAT, JUNE 4 Today, the idea of "live, work, and thrive" is more than just a lifestyle trend—it's a driving force behind modern residential developments. Homebuyers are no longer just looking for a place to live; they're seeking vibrant, self-contained communities that offer everything they need within easy reach. From wellness spaces and parks to schools, retail, and healthcare facilities, integrated living has become a top priority. At the same time, sustainability has taken centre stage, making developments like The Sustainable City – Yiti among the most desirable in the region. Three key factors are fueling this shift toward sustainable community living in the Middle East. First, the region's deep-rooted culture of hospitality and strong community values naturally aligns with the concept of interconnected, supportive neighborhoods. Second, the pandemic reshaped lifestyles and priorities, prompting a growing desire for resilient, self-sufficient communities where basic needs are within walking distance. Third, national visions across the region—such as Oman Vision 2040—are putting sustainability in the spotlight, increasing demand for green spaces, energy-efficient homes, and wellness-focused living. Today's residents are looking for more than just convenience—they want connection and quality of life. That means easy access to retail and dining, schools, healthcare, and a wide range of recreational and wellness amenities. Parks, sports facilities, and community centers are no longer add-ons; they are essentials. People want to move freely, whether by walking, biking, or using electric transport. Pedestrian-friendly design, mixed-use developments, and co-living spaces are now key components of truly livable communities. Sustainability, too, goes far beyond having solar panels. Homeowners are increasingly seeking communities that help reduce energy bills through renewable energy sources, provide clean transportation options, ensure water availability, and feature smart technologies that make daily living easier and more eco-friendly. With growing awareness of climate change and resource scarcity, many now view sustainable living not just as a moral choice, but as a smart investment in the future. Oman is especially well-suited for this new era of sustainable communities. With its natural beauty, strategic location, and strong commitment to environmental goals through Vision 2040, the country offers fertile ground for projects like The Sustainable City – Yiti. Set against Oman's scenic landscape, The Sustainable City – Yiti combines the spirit of community living with world-class sustainable design. Residents can take part in community gardening, ride shared e-bikes, or hop into electric buggies—initiatives that promote both wellness and environmental care. Facilities like gyms, equestrian clubs, and walking and cycling tracks encourage an active, connected lifestyle, while smart technology integrates sustainability into every aspect of daily life. Developed by Diamond Developers—a subsidiary of SEE Holding—in collaboration with Oman Tourism Development Company (Omran), this pioneering project aims to achieve net-zero carbon emissions by 2040, a full decade ahead of the UN's global target. The Sustainable City – Yiti stands as an international benchmark for what's possible when vision, innovation, and environmental stewardship come together. As cities across the Middle East reimagine urban planning, demand for community-focused, sustainable developments will only grow. Governments, developers, and investors all have a role to play in shaping this new reality. With its cultural richness and natural splendor, the region has a unique opportunity to lead the way—and projects like The Sustainable City – Yiti provide a blueprint for creating healthy, resilient, future-ready communities for generations to come.
