Latest news with #AdvantageOman
Times of Oman
28-04-2025
- Business
- Times of Oman
Strategic investments inked on closing day of Advantage Oman forum
Muscat: The Ministry of Commerce, Industry, and Investment Promotion today concluded the first international investment forum, "Advantage Oman," with the signing of strategic investments that boost the Sultanate's position as a promising investment destination. Ibtisam Ahmed Al Farooji, Undersecretary of the Ministry of Commerce, Industry, and Investment Promotion for Investment Promotion, affirmed that the forum supported economic diversification and attracted high-quality investments aligned with Oman's future vision. She noted that the event provided a distinguished platform connecting local and international investors with thought leaders and economic experts, fostering the exchange of ideas and exploring promising growth opportunities. She emphasised that the forum enabled participants to engage with public and private sector leaders, discuss key economic trends, and explore investment opportunities in vital sectors. The specialized panel discussions aimed to produce actionable recommendations, drawing from regional and global success stories. She added that the forum featured bilateral meetings between investors and officials in economic sectors prioritized by Oman Vision 2040, which serves as a cornerstone for the Sultanate of Oman's efforts to achieve growth and economic transformation in line with national objectives. At the forum's conclusion, JA Solar signed several agreements with Invest in Oman, Sohar Port and Freezone, and Majis Industrial Services to establish a solar cell and panel manufacturing plant. Spanning 32.5 hectares in the second phase of the free zone, the project is valued at RO 217.3 million. Scheduled to commence operations in Q1 2026, the facility will have an annual production capacity of 6 GW of solar cells and 3 GW of solar panels. This agreement advances Oman Vision 2040 by supporting the transition to renewable energy and economic diversification, alongside growing interest in opportunities within the free zone's second phase. Khalid Salim Al Qasabi, Director General of Industry at the Ministry of Commerce, Industry, and Investment Promotion, stated that the agreements to establish the solar manufacturing plant in Sohar Freezone reflect the ambitious goals of Oman's Industrial Strategy 2040, which focuses on developing future industries and promoting value-added investments. He added that renewable energy industries are a priority in the industrial strategy due to their role in creating promising opportunities to diversify the national economy, increase the industrial sector's contribution to GDP, and enhance Oman's energy mix. The project, expected to begin operations in Q1 2026, will contribute to developing the clean energy value chain and attracting related industries, reinforcing Oman's position as a regional hub for renewable energy and green industries. The forum's second day featured dialogue sessions with decision-makers, opportunities for strategic partnerships, investor success stories, and roundtable discussions in key sectors, including tourism, logistics, mining, food security, renewable energy, and IT. —— Ends/AH
Zawya
28-04-2025
- Business
- Zawya
Oman: GDP expected to grow by 3.4% this year
MUSCAT: HH Sayyid Shihab bin Tarik al Said, Deputy Prime Minister for Defence Affairs, presided over the opening of the first international investment forum 'Advantage Oman', organised by the Ministry of Commerce, Industry and Investment Promotion. The two-day event, held at the St Regis Al Mouj Resort in Muscat, brings together over 250 prominent figures, including senior officials, decision-makers, and regional and international investors, highlighting Oman's position as a promising investment destination. Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, emphasised that this forum marks a first-of-its-kind strategic event for Oman, attracting top decision-makers, business leaders, and investors across key sectors. The forum comes as Oman experiences significant growth in economic and investment fields, supported by rising international indicators. He noted that the forum coincides with a period of increasing momentum in Oman's economic and investment sectors. Foreign direct investment (FDI) inflows grew by 16.2 per cent in Q3 2024 compared to the same period in 2023. Additionally, Oman's credit rating was upgraded to BBB with a stable outlook by Standard & Poor's. The minister said that Oman's GDP is expected to grow by 3.4 per cent this year, outperforming many global economies - a testament to the resilience of the national economy and international market confidence. The first day of the forum featured five key sessions addressing major global economic trends. The first session explored future outlooks and transformative shifts, focusing on the impact of advanced technologies like artificial intelligence, climate tech and hyper connectivity on the global economy, while stressing innovation and sustainability as pillars of competitiveness. The second session, 'The Risk-Reward Equation in a Changing World,' highlighted the importance of calculated risks in institutional success, emphasising risk culture, psychological safety, and examples of bold decision-making during times of change. The third session, 'Business Decisions – Environmental Challenges and Corporate Responsibility,' discussed corporate accountability for climate change and biodiversity loss, proposing solutions like the circular economy and green technologies. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Zawya
28-04-2025
- Business
- Zawya
First International Investment Forum "Advantage Oman" launched
Muscat: His Highness Sayyid Shihab bin Tarik Al Said, Deputy Prime Minister for Defence Affairs, sponsored the launch of the First International Investment Forum "Advantage Oman" organised by the Ministry of Commerce, Industry and Investment Promotion at the St. Regis Al Mouj Resort in Muscat. The two-day event, which is being held with the participation of more than 250 senior officials, decision-makers, and regional and international investors, highlights the Sultanate of Oman as a promising investment destination. In his opening speech , His Excellency Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, emphasised that organising the International Investment Forum is the first of its kind in the Sultanate of Oman and a strategic event that attracts prominent decision-makers, leaders, businessmen, and investors from various countries and across various promising sectors. This is in light of the remarkable growth the Sultanate of Oman has witnessed and is witnessing across various economic and investment sectors, supported by rising international indicators. In his speech, His Excellency noted that the timing of the forum comes at a time when the Sultanate of Oman is witnessing increasing momentum in its economic and investment sectors. The Sultanate of Oman witnessed a significant increase in foreign direct investment flows of 16.2 percent in the third quarter of 2024 compared to the same period in 2023. The Sultanate's credit rating was also raised to BBB- with a stable outlook by Standard & Poor's. His Excellency the Minister of Commerce, Industry and Investment Promotion stated that the gross domestic product is expected to grow by 3.4 percent this year, outperforming the performance of many economies around the world, reflecting the strength of the national economy and the confidence of global markets. The first day of the forum featured five main sessions addressing the most prominent global economic trends. The first session discussed the future, anticipating major transformations, and the impact of advanced technologies such as artificial intelligence, climate technologies, and hyper-connectivity on the global economy. It focused on the need to embrace innovation and sustainability as pillars of competitiveness in an ever-changing world. The second session, titled "The Equation of Risk and Opportunity in a Changing World," addressed the importance of taking calculated risks as key to organizational success. It highlighted the culture of risk-taking and the role of psychological safety, and showcased examples of organisations that have achieved success through bold decisions in times of change. The third session, titled "Decisions in the Business World - Environmental Challenges and Corporate Responsibility," discussed corporate responsibility towards climate change and biodiversity loss. It proposed solutions such as the circular economy and green technologies, emphasising the importance of public-private cooperation to preserve the environment. The fourth session reviewed creative leadership in a rapidly changing world and how leadership can transcend traditional approaches by adopting an artist's mindset—bold and non-linear—with real-life examples of organizations that have reinvented themselves through creativity. His Highness Sayyid Shihab bin Tarik Al Said, Deputy Prime Minister for Defence Affairs, toured the exhibition accompanying the forum, which featured the participation of several government agencies and private sector institutions. The fifth session addressed the importance of storytelling in building trust and brand loyalty, and how organisations can transform data and values into narratives that reach audiences and leave a lasting impact. The second day of the forum will include dialogue sessions with decision-makers, opening channels of communication with investors and building quality partnerships, presenting an investor's success story, signing new investment partnerships, and holding specialised roundtables in a number of priority sectors, such as tourism, logistics, mining, food security, renewable energy, and information technology. © Muscat Media Group Provided by SyndiGate Media Inc. ( T
Observer
28-04-2025
- Business
- Observer
Visionary leadership, dedicated workforce key to Oman's success: Lulu Group chief
Muscat: The Sultanate of Oman has all the right elements that new foreign investors coming are looking for while entering a country or a market, said Yusuff Ali M.A., founder and Chairman at Lulu Group International, while speaking at the Advantage Oman on Sunday. He said, "I have been in Oman for the last 25 years and from one outlet in Salalah, today the group has over 36 outlets across the country employing over 3,500 Omanis." He praised the Omani employees for being dedicated, honest, and punctual, which are important elements that any employer expects from their colleagues. Ali added that the country is blessed with visionary leadership, a strong economy, a good workforce, and safety, stability, and security. On visionary leadership, he said the Sultanate of Oman never faced a shortage of food during the pandemic, and any hike in prices of essential items to the efficient governance provided by the leadership here. He also praised the religious freedom enjoyed by people of all nationalities and faiths is simply great in Oman. "We expect any country and economy to change and upgrade itself with the latest technological trends with time, just like we do in our supermarkets." He said the Lulu Group emphasis to sourcing local products and encourages other manufactures to set up base in the Sutlanate.
Observer
27-04-2025
- Business
- Observer
GDP expected to grow by 3.4% this year
MUSCAT: HH Sayyid Shihab bin Tarik al Said, Deputy Prime Minister for Defence Affairs, presided over the opening of the first international investment forum 'Advantage Oman', organised by the Ministry of Commerce, Industry and Investment Promotion. The two-day event, held at the St Regis Al Mouj Resort in Muscat, brings together over 250 prominent figures, including senior officials, decision-makers, and regional and international investors, highlighting Oman's position as a promising investment destination. Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, emphasised that this forum marks a first-of-its-kind strategic event for Oman, attracting top decision-makers, business leaders, and investors across key sectors. The forum comes as Oman experiences significant growth in economic and investment fields, supported by rising international indicators. He noted that the forum coincides with a period of increasing momentum in Oman's economic and investment sectors. Foreign direct investment (FDI) inflows grew by 16.2 per cent in Q3 2024 compared to the same period in 2023. Additionally, Oman's credit rating was upgraded to BBB with a stable outlook by Standard & Poor's. The minister said that Oman's GDP is expected to grow by 3.4 per cent this year, outperforming many global economies - a testament to the resilience of the national economy and international market confidence. The first day of the forum featured five key sessions addressing major global economic trends. The first session explored future outlooks and transformative shifts, focusing on the impact of advanced technologies like artificial intelligence, climate tech and hyper connectivity on the global economy, while stressing innovation and sustainability as pillars of competitiveness. The second session, 'The Risk-Reward Equation in a Changing World,' highlighted the importance of calculated risks in institutional success, emphasising risk culture, psychological safety, and examples of bold decision-making during times of change. The third session, 'Business Decisions – Environmental Challenges and Corporate Responsibility,' discussed corporate accountability for climate change and biodiversity loss, proposing solutions like the circular economy and green technologies.
