Oman, Bhutan review prospects for cooperation
THIMPHU: Sayyid Badr bin Hamad al Busaidy, Foreign Minister met on Monday with Dasho Tshering Tobgay, Prime Minister of the Kingdom of Bhutan.
This took place within the framework of the official visit paid by the Foreign Minister to Bhutan.
During the meeting, the two sides reviewed areas of bilateral cooperation and means of enhancing them in various fields, especially in the economic, trade and investment spheres.
Both sides underscored the importance of exchanging visits between businesspeople and investors from both countries in a manner that serves economic partnerships.
The two ministers discussed means of cooperating in the fields of technology and sustainable energy in a bid to achieve sustainable development.
Furthermore, the Foreign Minister also met with Lyonpo D N Dhungyel, Minister of Foreign Affairs and External Trade of the Kingdom of Bhutan.
During this meeting, the two ministers touched on means of enhancing diplomatic cooperation between Oman and Bhutan, as well as exchanging support in matters of mutual interest on the regional and international levels.
The two sides reviewed cooperation spheres in trade, investment, education and tourism. They also explored means of enhancing cultural and knowledge exchange to bolster bilateral relations and deepen communication links between the two friendly peoples.
The two meetings were attended by Abdulsalam bin Mohammed al Murshidi, Chairman of Oman Investment Authority (OIA), Shaikh Abdulaziz bin Abdullah al Hinai, Ambassador-at-Large, Issa bin Saleh al Shaibani, Oman's Ambassador to the Republic of India and non-resident Ambassador to the Kingdom of Bhutan, alongside several officials from the Foreign Ministry.
SMART CITY PROJECT
The Sultanate of Oman has explored prospects for cooperation with the Kingdom of Bhutan in the technology-based developmental project of GMC (Gelephu Mindfulness City). A meeting to this effect was held in Thimphu city on Monday between an Omani team and the GMC project representatives.
The Omani side at the meeting included Sayyid Badr bin Hamad al Busaidy, Foreign Minister, and Abdulsalam bin Mohammed al Murshidi, Chairman of Oman Investment Authority (OIA). The meeting was attended by Liew Mun Leong, CEO of GMC, the project developer.
GMC project, one of Bhutan's most outstanding development initiatives, seeks to establish an integrated smart city that combines innovation, sustainability and knowledge-based economy.
The project focuses on attracting investments in the sectors of advanced technology, education, healthcare and hospitality.
The two sides expressed interest in exploring opportunities for cooperation and partnership through this project. The Omani side lauded the project's vision, noting that it could constitute a new platform for quality partnerships between investment parties in the Sultanate of Oman and the Kingdom of Bhutan.
The meeting was attended by Shaikh Abdulaziz bin Abdullah al Hinai, Ambassador-at-Large (at the Foreign Ministry), Issa bin Saleh al Shaibani, Ambassador of the Sultanate of Oman to the Republic of India, Ambassador-Designate to the Kingdom of Bhutan, and other officials from the two countries. — ONA
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Muscat Daily
5 hours ago
- Muscat Daily
Oman, Algeria explore new avenues for trade, investment cooperation
Algiers, Algeria –Qais Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, held a series of high-level meetings with Algerian ministers and senior officials to explore ways to enhance economic, trade, and investment cooperation between Oman and the People's Democratic Republic of Algeria. The discussions took place on the sidelines of Oman's participation as the guest of honour at the Algiers International Fair, reflecting the deepening bilateral ties between the two nations. Yousef met separately with Saïd Grib, Minister of Industry; Kamel Rezig, Minister of Foreign Trade and Export Promotion; Tayeb Zitouni, Minister of Domestic Trade and Market Regulation; and Omar Rekkache, Director General of the Algerian Investment Promotion Agency. The meetings focused on activating existing agreements and memoranda of understanding, while identifying new areas of partnership in sectors such as manufacturing, food processing, and real estate. The two sides discussed facilitating joint projects, increasing trade volumes, and boosting cross-border investments through targeted incentives and streamlined procedures. Yousef stressed that these meetings reflect the spirit of the joint communique issued during the historic state visit of His Majesty Sultan Haitham bin Tarik to Algeria in May. He noted that the visit laid the groundwork for a new phase of strategic cooperation across multiple sectors. 'Algeria has shown strong interest in expanding its partnership with Oman, and we see a shared commitment to creating broader opportunities for investors and business leaders in both countries,' Yousef said. As part of the visit, the minister and his delegation toured the Rouiba Industrial Zone and visited leading Algerian companies, including the National Company for General Industries – a key player in energy and petroleum equipment manufacturing – as well as major producers in the dairy and sugar industries. The Omani delegation included Saif Nasser al Badai, Oman's Ambassador to Algeria; Faisal Abdullah al Rowas, Chairman of the Oman Chamber of Commerce and Industry; Eng Dawood Salim al Haddabi, CEO of Madayn (Public Establishment for Industrial Estates); along with representatives from various government institutions, private sector entities, and prominent business leaders.
Observer
19 hours ago
- Observer
Opinion- Strengthening the MSX is a national imperative
The Muscat Stock Exchange (MSX) is working to strengthen the institution's activities to position it among the region's financial markets in the coming period and to attract more investments to the Omani capital market. Recently, the MSX, in cooperation with the Gulf Capital Markets Association (GCMA), hosted a financial conference attended by several prominent figures in the financial and investment sectors. The conference focused on discussing the most prominent challenges and opportunities facing the region's financial markets in light of current economic and technological changes, and ways to develop a more efficient and attractive investment environment. The goal of this activity was to enhance the position of the Omani capital market, making it an advanced financial center, and to provide an integrated investment environment in line with international best practices. The question raised in this regard is related to the causes required to make the Muscat Stock Exchange an attractive market for domestic and foreign investments, and to understand the challenges facing the market at this stage. There are several factors that can be worked on to improve the stock market's operations and make it more attractive, including diversifying investment instruments and developing and expanding trading mechanisms and securities, such as providing investment funds and new financial instruments to increase diversity and attract a larger segment of investors. It is also crucial to enhance transparency and corporate governance standards and implement international standards to ensure the protection of investor rights and reduce risks. Furthermore, it is important to improve the systems and technologies used in trading to provide a faster and safer environment, while relying on financial technology (FinTech), facilitating procedures, reducing bureaucracy, and improving registration and approval procedures to make the market more flexible and responsive to investor demands. Finally, it is important to raise awareness about investment opportunities and the importance of sustainability and social responsibility to attract investors who focus on these standards. In addition, it is important to encourage foreign direct investment, issue legislation that encourages foreign investors, and provide incentives and facilitation for market entry. The Omani stock market faces several challenges, including a lack of liquidity and weak trading volume, which reduces its attractiveness and limits investors' ability to enter and exit easily. It also relies heavily on changes occurring in the oil and energy sector, making the market vulnerable to global economic fluctuations. Some believe there is a need to further improve governance and disclosure standards, increase investor confidence, and close legislative gaps that could lead to uncertainty or reduce investment incentives. They also believe there is a need to increase the number of financial institutions and related services to provide adequate investment support tools and mechanisms. It is also important to enhance financial literacy and raise awareness of the importance of long-term investment and sustainability. The market must have a comprehensive strategic vision focused on diversifying the economy and achieving political and regulatory stability to attract more investment. In order to enhance the daily buying and selling activity in the Omani stock market and increase trading volume, there are several factors and methods that can be developed and improved, the most important of which are increasing market liquidity, improving the market's ability to provide diverse and attractive financial instruments, in addition to encouraging investors to submit their trades by offering incentive programmes, especially for individual investors that can increases investors' ability to execute transactions quickly and without delay.
Muscat Daily
21 hours ago
- Muscat Daily
MTCIT invites EOI to develop office software locally in Oman
By OUR CORRESPONDENT Muscat – In an effort to enhance digital sovereignty and support technology localisation, Ministry of Transport, Communications and Information Technology (MTCIT) has invited expressions of interest (EOI) from local companies and investors to develop open-source office software. The ministry's Internal Investment Committee has called on Omani firms with expertise in software development to propose solutions for word processing, presentations and spreadsheets based on open-source platforms. The aim is to deploy these applications across government and institutional settings, meeting standard office software requirements. MTCIT said the government plans to sign a licensing agreement with the selected developer for a fixed term, as part of wider national efforts to build local technological capabilities and reduce reliance on foreign proprietary systems. Interested firms must submit a formal letter expressing their interest, along with a preliminary operational model of the proposed solution, company profile, commercial registration and valid business licence. A preliminary economic feasibility study and documents demonstrating experience and technical capability are also required. All submissions must be in PDF format and emailed to [email protected]. Submission deadline is July 20.
