Latest news with #AbdulsalamalMurshidi
Observer
13-05-2025
- Business
- Observer
OIA companies repay RO 1.8 bn of debt in 2024
MUSCAT: The 9th Rawabet Forum, showcasing the many innovations and achievements of Oman Investment Authority (OA) and its subsidiaries, was held under the auspices oaf Dr Khamis Saif al Jabri, Chairman of the Oman Vision 2040 Implementation Follow-up Unit. Also present were the board chairpersons and CEOs of OIA companies. OIA highlighted its role in achieving the national agenda across various fields, with a particular focus on developing Oman's human capital. Over the past four years, more than 6,500 jobs have been created for Omanis within the Authority and its subsidiaries, achieving an Omanisation rate of 77.7 per cent out of a total workforce of 41,000 employees. Abdulsalam al Murshidi, President of OIA, stated that the Authority recognizes its role not only in generating returns, but also in achieving the national agenda by contributing to economic diversification, maximizing in-country value, transferring knowledge and technology, creating job opportunities for Omanis, and building an institutional framework that exemplifies good governance and sustainability. The Authority also showcased some of its efforts in ICV. Among those efforts are integrating it into the corporate performance scorecards of its subsidiaries, in addition to launching a social investment policy, which has been in effect since Q1 2024. Additionally, the Authority highlighted its efforts to reduce its subsidiaries' indebtedness, aiming to enhance their capacity for investment and growth, improve their credit ratings, and enable them to generate profits and drive economic development. In 2024 alone, the Authority succeeded in repaying over RO 1.8 billion of its subsidiaries' debt. The Authority also presented the latest developments in the National Development Fund (NDF) and its newly launched strategy. Since its establishment in 2021, the Fund contributed over RO 3 billion to the state's General Budget and exceeded RO 8 billion in capital investment spending across various projects in priority sectors aligned with Oman Vision 2040. In addition, the Fund focused on synergies between its subsidiaries, recognizing the importance of collaboration to unify visions and promote collective efforts towards achieving the national goals. Notable examples of this include the collaboration between be'ah and most of the other subsidiaries, where be'ah manages industrial and hazardous waste produced by the companies. Another example is the cooperation between ITHCA and several subsidiaries to develop advanced technological solutions. Furthermore, OIA launched the National Development Fund Strategy in to enhance its role in supporting Oman Vision 2040, a role it has played since its establishment. The Authority recapped its focus areas for the first five years of its establishment, clarifying the future direction, which aims to maximize its role in achieving the objectives of Oman Vision 2040. The strategy set goals aligned with the vision, including leading the energy transition by relying on renewable energy sources and hydrogen to contribute to achieving Net-Zero by 2050, enhancing value-added downstream activities and localizing sectors, boosting Oman's competitive advantage, and exploring new areas to enhance community welfare. These objectives align with the pillars of Oman Vision 2040, which are to create a sustainable environment, a competitive economy, and a society of creative individuals. During the forum, several agreements were also signed. ASYAD Group signed an agreement in partnership between Hafeet Rail Company and Takatuf Oman, aiming to qualify Omani talents in the transportation and logistics sector. Additionally, ASYAD Supply Chains signed an agreement with Minerals Development Oman to provide land and sea logistics services for the Yanqul Copper project. Mazoon Mining secured a financing deal of $270 million from several local and regional banks. The company also signed multiple construction and service packages with specialized project implementation companies, including ASYAD Group, the Oman National Engineering and Investment Company (ONEIC), and STRABAG Oman.
Observer
20-04-2025
- Business
- Observer
1st Advantage Oman Forum to showcase nation's investment landscape
BUSINESS REPORTER MUSCAT, APRIL 20 Oman is set to welcome global attention this April with the launch of the inaugural Advantage Oman Forum, an exclusive two-day business gathering taking place on April 27-28, 2025 at the Al Mouj Muscat Resort. Organised by the Ministry of Commerce, Industry and Investment Promotion, represented by Invest Oman, the forum will bring together senior figures from government, international business, financial institutions, and strategic sectors to examine Oman's rising profile as an investment destination and explore new economic frontiers. The forum is held under the strategic partnership of the Ministry of Heritage and Tourism, the Oman Chamber of Commerce and Industry, and Sohar International. The Advantage Oman Forum is expected to play a central role in reinforcing Oman's economic diplomacy efforts and its commitment to attracting high-quality, sustainable investments in alignment with Oman Vision 2040 and the country's Net Zero 2050 strategy. Over the course of two days, the forum will present a comprehensive outlook on Oman's investment opportunities, sectoral competitiveness, and global relevance, particularly in light of its increasing integration within regional and international trade and investment flows. The programme will feature a series of curated panel discussions, fireside conversations, and strategic meetings addressing critical global megatrends and their implications for Oman's future. The discussions will explore how sectors such as clean energy, logistics, advanced manufacturing, mining, agri-food, and tourism are being positioned to attract future-ready investment. With sustainability, resilience, and innovation as key themes, the forum will also address how Oman is preparing for a world of heightened economic competition, climate transitions, and rapid technological transformation. The Advantage Oman Forum will feature a distinguished lineup of speakers representing both regional leadership and global thought. Among them are Abdulsalam al Murshidi, President of the Oman Investment Authority; Qais al Yousef, Minister of Commerce, Industry and Investment Promotion; Dr Said al Saqri, Minister of Economy; and Salem al Mahrouqi, Minister of Heritage and Tourism. From the private sector, high-profile business leaders such as Mohamed Al Abbar, Founder of Emaar Properties; Mohammed al Barwani, Chairman of MB Holding Group; Mohammed Mahfoodh al Ardhi, Chairman of Muscat Stock Exchange; and Yusuff Ali, Founder of LuLu Group, will share their strategic insights. International voices will include Abdulla al Marri, UAE Minister of Economy; Luigi Di Maio, EU Special Representative for the Gulf Region and former Foreign Minister of Italy; Creon Butler, Director of the Global Economy and Finance Programme at Chatham House; Michelle Karavias, Managing Director and Head of Industry Research at Fitch Solutions; Diana Mangalagiu, Associate Fellow at Saïd Business School, University of Oxford; and Jonathan McClory, Research Associate at Hertford College, Oxford University. Dushyant Thakor Deputy Executive Director at WAIPA, will also offer a global investment promotion perspective. The sessions will be moderated by Dr Florian Klein, Co-Founder and Managing Partner of GmbH, who will guide the conversation toward actionable strategies in an increasingly complex global economy. One of the headline sessions will be led by CNN Editor-at-Large Richard Quest, titled 'The Shape of Things to Come.' The session will explore the megatrends reshaping business and governance, including climate adaptation, renewable energy, AI, and Industry 5.0. It will examine how technologies like edge AI and telemedicine are transforming industries, and how businesses can build resilience amid geopolitical shifts. Framed by global insights and practical strategies, the session will offer a roadmap for thriving in a rapidly evolving world. The event is not only designed as a convening of high-level minds, but as a platform that allows Oman to actively engage with foreign investors, sovereign funds, and multinational corporations looking to expand their footprint in the region. With a regulatory environment that supports 100% foreign ownership in most sectors, a streamlined investor journey through the Oman Business Platform, and dedicated facilitation by Invest Oman, the Sultanate is offering one of the region's most investor-friendly environments. While attendance to the Advantage Oman Forum is by exclusive invitation only, select sessions will be streamed live via the official website. The public and global business community are invited to watch online and engage with the conversations shaping the future of investment in the Sultanate. To view the live sessions and explore more about the speakers and agenda, please visit the official forum website at
Muscat Daily
20-04-2025
- Business
- Muscat Daily
Muscat to host global business leaders at Advantage Oman Forum
Muscat – Oman will host leading international business figures, government officials and economists in Muscat this month at the inaugural Advantage Oman Forum, a two-day gathering aimed at positioning the sultanate as a key global investment destination. Set to take place on April 27 and 28, the event is being organised by Ministry of Commerce, Industry and Investment Promotion, through 'Invest Oman', in partnership with Ministry of Heritage and Tourism, Oman Chamber of Commerce and Industry, and Sohar International. It will highlight Oman's growing economic potential and showcase investment opportunities in sectors aligned with Oman Vision 2040 and the country's Net Zero 2050 ambitions. It is also expected to reinforce the sultanate's economic diplomacy and efforts to attract long-term, sustainable foreign investment. The forum will include panel discussions, closed-door meetings and fireside conversations focused on global megatrends and their impact on Oman's economic direction. Key themes include clean energy, advanced manufacturing, logistics, mining, agri-food, tourism and digital innovation, with sustainability and competitiveness at the core of the discussions. 'The Advantage Oman Forum aims to provide a platform for strategic dialogue and collaboration, unlocking new opportunities for high-quality investments,' a press release said. Among the confirmed speakers are Abdulsalam al Murshidi, President of Oman Investment Authority; H E Qais al Yousef, Minister of Commerce, Industry and Investment Promotion; H E Dr Said al Saqri, Minister of Economy; and H E Salem al Mahrouqi, Minister of Heritage and Tourism. Prominent regional business leaders include Mohamed al Abbar, Founder of Emaar Properties; Mohammed al Barwani, Chairman of MB Holding Group; Mohammed Mahfoodh al Ardhi, Chairman of Muscat Stock Exchange; and Yusuff Ali, Chairman of Lulu Group. International figures will also participate, including Abdulla al Marri, UAE Minister of Economy; Luigi Di Maio, EU Special Representative for the Gulf Region; Creon Butler from Chatham House; Michelle Karavias of Fitch Solutions; Diana Mangalagiu from University of Oxford; and Jonathan McClory from Hertford College, Oxford. Dushyant Thakor, Deputy Executive Director at WAIPA, will present insights on global investment promotion trends. Richard Quest, CNN Editor-at-Large, will moderate a headline session titled 'The Shape of Things to Come', focusing on emerging trends in climate adaptation, renewable energy, artificial intelligence and Industry 5.0. The session will examine how technologies such as Edge AI and telemedicine are changing global business, and how companies can navigate geopolitical uncertainties and build long-term resilience.
Observer
20-04-2025
- Business
- Observer
Advantage Oman will bring big names to Muscat
Muscat – The capital, Muscat, will host the inaugural Advantage Oman Forum, an exclusive two-day business gathering taking place on April 27 and 28 at the St. Regis Al Mouj Muscat Resort. Organised by the Ministry of Commerce, Industry and Investment Promotion, represented by Invest Oman, the forum will bring together senior figures from government, international business, financial institutions, and strategic sectors to examine Oman's rising profile as an investment destination and explore new economic frontiers. The forum is held under the strategic partnership of the Ministry of Heritage and Tourism, the Oman Chamber of Commerce and Industry, and Sohar International. Advantage Oman Forum set to launch next week in Muscat The Advantage Oman Forum is expected to play a central role in reinforcing Oman's economic diplomacy efforts and its commitment to attracting high-quality, sustainable investments in alignment with Oman Vision 2040 and the country's Net Zero 2050 strategy. Over two days, the forum will present a comprehensive outlook on Oman's investment opportunities, sectoral competitiveness, and global relevance, particularly in light of its increasing integration within regional and international trade and investment flows. The programme will feature a series of curated panel discussions, fireside conversations, and strategic meetings addressing critical global megatrends and their implications for Oman's future. The discussions will explore how sectors such as clean energy, logistics, advanced Manufacturing, mining, agri-food, and tourism are being positioned to attract future-ready investment. With sustainability, resilience, and innovation as key themes, the forum will also address how Oman is preparing for a world of heightened economic competition, climate transitions, and rapid technological transformation. The Advantage Oman Forum will feature a lineup of speakers, including Abdulsalam al Murshidi, president of the Oman Investment Authority (OIA); Qais Al Yousef, Minister of Commerce, Industry and Investment Promotion; Dr. Said al Saqri, Minister of Economy; and Salem al Mahrouqi, Minister of Heritage and Tourism. From the private sector, high-profile business leaders such as Mohamed al Abbar, Founder of Emaar Properties, and Mohammed al Barwani, Chairman of MB Holding Group; Mohammed Mahfoodh al Ardhi, Chairman of Muscat Stock Exchange; and Yusuff Ali, Founder of LuLu Group, will share their strategic insights. International voices will include Abdulla Al Marri, UAE Minister of Economy; Luigi Di Maio, EU Special Representative for the Gulf Region and former foreign minister of Italy; Creon Butler, Director of the Global Economy and Finance Programme at Chatham House; Michelle Karavias, Managing Director and Head of Industry Research at Fitch Solutions; Diana Mangalagiu, Associate Fellow at Saïd Business School, University of Oxford; and Jonathan McClory, Research Associate at Hertford College, Oxford University. Dushyant Thakor, deputy executive director at WAIPA, will also offer a global investment promotion perspective. The sessions will be moderated by Dr. Florian Klein, Co-Founder and Managing Partner of GmbH i.G., who will guide the conversation toward actionable strategies in an increasingly complex global economy. One of the headline sessions will be led by CNN Editor-at-Large Richard Quest, titled 'The Shape of Things to Come.' The session will explore the megatrends reshaping business and governance, including climate adaptation, renewable energy, AI, and Industry 5.0. It will examine how technologies like edge AI and telemedicine are transforming industries, and how businesses can build resilience amid geopolitical shifts. Framed by global insights and practical strategies, the session will offer a roadmap for thriving in a rapidly evolving world. The event is not only designed as a convening of high-level minds but as a platform that allows Oman to actively engage with foreign investors, sovereign funds, and multinational corporations looking to expand their footprint in the region. With a regulatory environment that supports 100% foreign ownership in most sectors, a streamlined investor journey through The Oman Business Platform, and dedicated facilitation by Invest Oman, the Sultanate is offering one of the region's most investor-friendly environments. Oman's strategic location, political stability, and natural resources have long made it an appealing investment destination. Today, with upgraded infrastructure, free and special economic zones, and a focused push on diversification, the country is building a dynamic economy underpinned by innovation and international cooperation. The Advantage Oman Forum will provide the opportunity to explore these dimensions in detail through dialogue with policymakers, project developers, and global investors. The forum also highlights the proactive role played by Invest OMAN in leading the country's investment promotion initiatives. The organisation is committed to supporting investors through every stage of their journey — from entry and establishment to expansion and internationalisation. By facilitating connections across the public and private sectors and offering hands-on assistance, Invest Oman aims to ensure that every investment delivers long-term, mutual value. The Advantage Oman Forum is by exclusive invitation only, select sessions will be streamed live via the official website. The public and global business community are invited to watch online and engage with the conversations shaping the future of investment in the Sultanate. To view the live sessions and explore more about the speakers and agenda, please visit the official forum website at
Observer
11-02-2025
- Business
- Observer
HM's greetings conveyed to Algerian president
ALGERIA: President Abdelmadjid Tebboune, of the People's Democratic Republic of Algeria, Abdulsalam al Murshidi, Chairman of Oman Investment Authority (OIA), as part of Omani delegation's visit to Algerian at the Presidential Building in the Algerian capital on Tuesday. During the meeting, the chairman of the OIA conveyed the greetings of His Majesty Sultan Haitham bin Tarik to the Algerian President alongside his wishes for continued health and well-being and further progress and prosperity for the brotherly Algerian people. For his part, the Algerian President asked Al Murshidi to convey his greetings to His Majesty the Sultan along with his wishes of continued health and well-being and continued progress and prosperity for the Omani people. During the meeting, they praised the level of cooperation and the efforts to enhance them, stressing the keenness of the leaderships of the two countries to push them towards broader horizons in various fields. The delegation included Dr Saud al Habsi, Minister of Agriculture, Fisheries and Water Resources, Dr Hilal al Sabti, Minister of Health and a number of CEOs of companies affiliated with the Oman Investment Authority.
