Latest news with #AdvantageOmanForum2025
Zawya
30-04-2025
- Business
- Zawya
Sohar International participates as strategic partner at Advantage Oman Forum 2025
Muscat: Reaffirming its position as a catalyst for national progress and sustainable economic transformation, Sohar International participated as the Strategic Partner of the Advantage Oman Forum 2025 — an exclusive, high-level gathering held recently at the St. Regis Al Mouj Resort in Muscat. The two-day event was graced by the presence of His Highness Sayyid Shihab bin Tarik Al Said, Deputy Prime Minister for Defence Affairs, and was organized by the Ministry of Commerce, Industry, and Investment Promotion in collaboration with Invest Oman. The opening ceremony was attended by Mr. Abdulwahid Mohamed Al Murshidi, Chief Executive Officer of Sohar International, along with other members of the Bank's executive management team — further emphasizing the Bank's leadership presence and strategic involvement in national initiatives. Bringing together over 250 prominent figures, including senior officials, decision-makers, and regional and international investors, the forum underscored Oman's position as a promising investment destination. It convened a distinguished cohort of senior government representatives, global investors, and influential business leaders to explore Oman's dynamically evolving investment landscape and examine the global megatrends shaping the nation's future economic trajectory. By aligning with the Ministry of Commerce, Industry, and Investment Promotion, Sohar International underscores its commitment to advancing Oman's strategic vision and enhancing the country's global investment appeal. Mr. Abdulwahid Mohamed Al Murshidi, Chief Executive Officer of Sohar International remarked, 'Our involvement in the Advantage Oman Forum reflects Sohar International's deep-rooted belief in the power of strategic dialogue to influence real-world outcomes. While capital mobilizes projects, it is foresight, knowledge exchange, and collaborative ambition that turn visions into impact. These forums serve as catalysts for precisely that—bringing together change-makers, innovators, and decision-makers who are reimagining what's possible for Oman and the wider region. At Sohar International, we view our role not just as financial facilitators, but as active partners in the nation's economic evolution—championing fresh perspectives, incubating bold ideas, and creating the conditions for sustained, inclusive growth.' As part of its participation at the forum, Sohar International hosted a dedicated stall, offering an interactive platform to engage with stakeholders, investors, and delegates on the bank's latest initiatives, financial solutions, and strategic vision. Adding further depth to the bank's involvement, Mr. Abbas Al Lawati, Executive Vice President – Investment Banking, FIG, and International Operations at Sohar International, delivered a presentation titled 'Banking Beyond Lending' highlighting how the banking model is evolving from basic transactional services to globally integrated, tech-driven solutions — a shift that enables banks to diversify offerings, boost efficiency, and drive sustainable growth. As Oman continues to amplify its global investment appeal through world-class infrastructure, investor-friendly regulations, and a progressive development policy, Sohar International remains steadfast in supporting the nation's ambitions, advancing opportunities that create shared value for people, partners, and the economy at large. About Sohar International With the vision to become a world-class Omani services company that helps customers, community and people to prosper and grow, Sohar International operates with a purpose to help people 'win' by delivering responsive banking for their ever-changing world, complementing their growth and prosperity with international standard service delivery. The Bank seeks to redefine banking in Oman through transformational developments centred on the principles of More Velocity, making everything simple and fast; More Value, ensuring relevance and connectivity to customers' world; and More Vision, liberating stakeholders through talented leadership.
Zawya
29-04-2025
- Business
- Zawya
Oman: Advantage Oman Forum 2025 unveils guide on investment opportunities
MUSCAT: A comprehensive investment guide, titled 'World of Opportunities', was launched against the backdrop of the Advantage Oman Forum 2025, which concluded at The St. Regis Al Mouj Muscat Resort, here on Monday, April 28, 2025. The guide details seven priority sectors poised for growth, aligning with Oman Vision 2040 and the nation's commitment to economic diversification. Oman is rapidly emerging as a leader in the Renewable Energy Sector, particularly in green hydrogen production. The country has allocated 50,000 square kilometres for hydrogen projects, aiming to become a competitive low-emissions hydrogen supplier by 2030. Notably, the HyDuqm project, led by France's Engie and South Korea's Posco, anticipates attracting between $7 billion and $8 billion in investments to develop up to 5 GW of new wind and solar capacity and produce 200,000 tonnes of renewable hydrogen annually. The Logistics Sector remains a cornerstone of Oman's economic development. Strategically located at the crossroads of global trade routes, Oman is enhancing its logistics infrastructure to serve as a regional trade hub. The country's major ports — Suhar, Salalah, and Duqm — handled over 4.6 million TEUs and 63.1 million tonnes of cargo in 2023, reinforcing its status as a global logistics powerhouse. Recent collaborations, such as the expanded joint venture between Oman Rail and Etihad Rail, aim to enhance connectivity and boost trade volumes. In the Manufacturing Sector, Oman is focusing on diversifying its industrial base by promoting sectors like petrochemicals, mining, and technology-driven manufacturing. The Salalah Free Zone has attracted investments in pharmaceuticals, petrochemicals, and mining, while the Sohar Free Zone has become a hub for mining, ceramics, and construction materials. Additionally, the country is venturing into semiconductor manufacturing, with plans to develop advanced AI chips, enhancing its position in the global semiconductor industry. The Tourism Sector is a major pillar under Oman Vision 2040, with the country targeting 12 million visitors by 2040. The government is investing RO 3 billion (approximately $7.8 billion) to develop 13 integrated tourism complex projects, with 12 more in the pipeline. These complexes combine residential, hospitality, recreational, and commercial facilities, offering comprehensive experiences to tourists and residents alike, further positioning Oman as a top regional destination. Oman's commitment to building a digital economy is reflected in the country's broader investments in ICT infrastructure. Oman is encouraging innovation in areas like artificial intelligence and cybersecurity, with its ICT market projected to grow from $5.96 billion in 2025 to $9.11 billion by 2030, at a CAGR of 8.88 per cent. Initiatives such as the National Digital Economy Programme are designed to enhance digital services, promote e-governance, and support the growth of tech startups, contributing to a more sustainable and circular economic model. In the Agriculture & Fisheries Sector, Oman is reinforcing its food security agenda. The government has launched 30 projects focusing on strategic crops, aquaculture, and water resources, aiming to increase local production, reduce reliance on imports, and create job opportunities for Omanis. These initiatives are not only ensuring sustainable food production but are also enhancing Oman's exports in the fisheries sector. The Advantage Oman Forum 2025 showcased Oman's commitment to economic diversification and sustainable development. By focusing on these seven strategic sectors, Oman is positioning itself as a competitive and attractive destination for global investors seeking sustainable and diversified opportunities. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Zawya
29-04-2025
- Business
- Zawya
‘Oman puts investors in direct contact with decision-makers'
Muscat: Oman underscored its commitment to accelerating private sector growth and simplifying investment procedures on Monday during the second day of the Advantage Oman Forum 2025, organised by the Ministry of Commerce, Industry and Investment Promotion (MOCIIP) through Invest Oman. Addressing international investors and delegates, Ibtisam Al Farooji, Undersecretary for Investment Promotion at MOCIIP, highlighted the government's drive to open up strategic sectors through transparency, fast-tracked facilitation, and direct engagement with policymakers. 'We open the doors to Oman's most strategic and future-focused sectors, and you will meet the senior government officials directly shaping their development," Al Farooji said. "From renewable energy and green hydrogen to advanced manufacturing, logistics, digital technologies, sustainable tourism, and fisheries —you'll discover where Oman's priorities meet global demand. Each of these sectors is underpinned by strong fundamentals — whether it's natural endowment, competitive cost structures, or long-term national planning through Oman Vision 2040," she added. She further emphasised the government's reform-driven approach. "Through the efforts of Invest Oman and our network of partners, we have streamlined procedures, cut red tape, and introduced targeted incentives designed to move from interest to investment — swiftly and transparently. We understand that certainty and access are essential. That is why today's format is direct. You are meeting the decision-makers. This includes officials from our free and special economic zones, our development funds, and line ministries — alongside key representatives from the private sector," she said. The day featured focused Government-to-Business (G2B) sessions, giving investors unprecedented access to senior officials and industry leaders across Oman's most promising sectors, including clean energy, logistics, digital innovation, tourism, and fisheries. The signing of a $565 million clean energy manufacturing agreement with JA Solar further demonstrated the Forum's ability to translate discussions into tangible outcomes, reinforcing Oman's proactive strategy to attract high-impact global investments. As the Forum's official sessions concluded, many visiting CEOs and delegates are set to embark on site visits across Oman, exploring key investment hubs and cultural landmarks to experience firsthand the country's unique blend of economic opportunity and heritage. © Muscat Media Group Provided by SyndiGate Media Inc. (
Observer
28-04-2025
- Business
- Observer
Advantage Oman 2025: Forging global partnerships for enduring prosperity
The Advantage Oman Forum 2025, concluding on April 28, continues to resonate across the Sultanate of Oman, fostering economic dynamism and strategic anticipation through insightful dialogues and new collaborations. This landmark event has ignited a robust catalyst for future economic expansion, positioning Oman as a vibrant and stable hub for global investment. Against the backdrop of Oman Vision 2040 under His Majesty Sultan Haitham bin Tarik's leadership, the forum showcased remarkable progress and vast potential for international collaborators seeking sustainable growth and mutual prosperity. The palpable energy, tangible outcomes, and clear strategic direction underscore a pivotal moment in Oman's journey towards economic diversification, global integration, and a prosperous future, extending a compelling invitation to the global community to participate in Oman's unfolding success story built on stability, strategic foresight, and mutually rewarding partnerships. In the five years leading up to Advantage Oman 2025, strategic groundwork by the Ministry of Commerce, Industry and Investment Promotion, with domestic and international partners, cultivated an attractive ecosystem for foreign investment. This forward-thinking approach is validated by robust economic indicators: foreign investment surged 75.7% (RO 20.6 billion in 2019 to RO 36.2 billion by end-2023), with FDI, the engine of sustainable growth, increasing by 90.3% (RO 13.4 billion in 2019 to RO 25.5 billion by end-2023, projected to reach RO 30 billion by end-2024). This over 100% FDI growth within five years underscores strong investor confidence in Oman's resilience and future. Annual FDI inflows also steadily climbed (RO 718 million in 2019 to RO 4.5 billion in 2023, projected RO 5 billion for the current year). Advantage Oman 2025 effectively highlighted these achievements and the compelling narrative driving Oman's economic growth. A closer examination of Oman's increasingly diverse economic sectors, a central focus of discussions at Advantage Oman 2025, reveals a landscape brimming with untapped opportunities for strategic investment and sustainable engagement. Oman's strategically vital agri-food & fisheries sector demonstrates a commitment to sustainability and burgeoning potential as a regional and global provider. Sustainable fishing practices have yielded growing exports, reaching $489 million in 2023. The modernising agricultural sector contributed $1.4 billion to the national economy. Oman aims for 100% food security by 2040, a key pillar of national resilience. Oman's global ranking of 17th in the 2024 Global Fisheries Index underscores its commitment and presents attractive investment opportunities in sustainable aquaculture, advanced food processing, and agricultural technology. In the crucial logistics sector, Oman stands as a regional leader in trade compliance, a result of streamlined processes and advanced infrastructure. With world-class deep-water ports, modern international airports, and a growing national rail network, Oman is strategically positioned as a global logistics hub. This vital sector aims to contribute $36 billion to the national GDP by 2040, aspiring to be a top-10 global logistics center, offering compelling investment prospects in advanced warehousing, transportation infrastructure, and logistics management. Oman's strategically important mining sector presents significant untapped opportunities for international investors. As a leading global exporter of gypsum and the GCC's foremost producer of ferrochrome, the sector is undergoing modernisation, encompassing a diverse array of metals and minerals, with a target of contributing nearly $800 million to the national GDP by 2030. The forum highlighted the progressive regulatory framework and attractive investment incentives designed to foster sustainable development in this resource-rich sector. Oman's commitment to a sustainable future is evident in the dynamic renewables sector. With abundant solar and wind resources and vast suitable land, Oman aims to become a global leader in renewable energy generation and export, targeting 100% clean power by 2050 and producing over 8.5 million tonnes of green hydrogen annually by mid-century. The forum showcased Oman's ambitious green hydrogen projects and the significant investment opportunities within this transformative sector. Oman's rapidly expanding tourism sector, attracting increasing numbers seeking authentic and responsible travel experiences, welcomed 4 million visitors in 2023 and aims for 11.7 million annually by 2040. Strategic investments are being made in diverse tourism offerings, including luxury accommodations, adventure tourism, and eco-friendly options, targeting the GCC region, India, and Europe, presenting compelling investment opportunities across the tourism value chain. The diverse geographical origins of Oman's FDI, a key topic at Advantage Oman 2025, illustrate a growing network of international partnerships. While the United Kingdom and the United States remain crucial partners, the increasing presence of China, Kuwait, and the UAE underscores Oman's expanding global appeal. This diverse investor base injects crucial capital, expertise, and innovation, further enriching Oman's resilient economic landscape. The forum provided an invaluable platform to strengthen these relationships and foster new collaborations for future growth. The profound impact of foreign investment in Oman extends beyond economic gains, significantly contributing to job creation for the national workforce. In 2023 alone, 500,000 new job opportunities were created, demonstrating the direct correlation between FDI inflows and national development. The Advantage Oman Forum highlighted this mutually beneficial interplay, showcasing how investors can contribute to and benefit from Oman's sustainable economic growth. In conclusion, the Advantage Oman Forum 2025 served as a powerful catalyst, illuminating the Sultanate of Oman's compelling value proposition as a premier destination for global investment. Robust economic indicators, a clear strategic focus on diversification, and a commitment to an investor-friendly environment underscore the immense opportunities awaiting strategic international partners. As discussions fade and connections mature into collaborations, Oman stands poised for sustained economic growth, enhanced global integration, and shared prosperity. The resounding message from Advantage Oman 2025 is clear: Oman is actively shaping the future of opportunity, inviting the world to join its promising success story. Dr Yousuf Hamed al Balushi The writer is founder and CEO - Smart Investment Gateway, economists, board adviser & business transformation mentor.
Times of Oman
28-04-2025
- Business
- Times of Oman
‘Oman puts investors in direct contact with decision-makers'
Muscat: Oman underscored its commitment to accelerating private sector growth and simplifying investment procedures on Monday during the second day of the Advantage Oman Forum 2025, organised by the Ministry of Commerce, Industry and Investment Promotion (MOCIIP) through Invest Oman. Addressing international investors and delegates, Ibtisam Al Farooji, Undersecretary for Investment Promotion at MOCIIP, highlighted the government's drive to open up strategic sectors through transparency, fast-tracked facilitation, and direct engagement with policymakers. 'We open the doors to Oman's most strategic and future-focused sectors, and you will meet the senior government officials directly shaping their development," Al Farooji said. "From renewable energy and green hydrogen to advanced manufacturing, logistics, digital technologies, sustainable tourism, and fisheries —you'll discover where Oman's priorities meet global demand. Each of these sectors is underpinned by strong fundamentals — whether it's natural endowment, competitive cost structures, or long-term national planning through Oman Vision 2040," she added. She further emphasised the government's reform-driven approach. "Through the efforts of Invest Oman and our network of partners, we have streamlined procedures, cut red tape, and introduced targeted incentives designed to move from interest to investment — swiftly and transparently. We understand that certainty and access are essential. That is why today's format is direct. You are meeting the decision-makers. This includes officials from our free and special economic zones, our development funds, and line ministries — alongside key representatives from the private sector," she said. The day featured focused Government-to-Business (G2B) sessions, giving investors unprecedented access to senior officials and industry leaders across Oman's most promising sectors, including clean energy, logistics, digital innovation, tourism, and fisheries. The signing of a $565 million clean energy manufacturing agreement with JA Solar further demonstrated the Forum's ability to translate discussions into tangible outcomes, reinforcing Oman's proactive strategy to attract high-impact global investments.
