Latest news with #AlYousef
Trade Arabia
28-04-2025
- Business
- Trade Arabia
Oman projects 3.4% economic growth for 2025
Oman's GDP is expected to grow by 3.4% this year, outperforming many global economies — a testament to the resilience of the national economy and international market confidence, said Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion. In his opening speech at the Advantage Oman Forum on April 27 in Muscat, Al Yousef said Foreign direct investment (FDI) inflows grew by 16.2% 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, said a Wam news agency report. Organised by the Ministry of Commerce, Industry, and Investment Promotion, the event 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. He 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.
Zawya
28-04-2025
- Business
- Zawya
‘Oman offers investors stability, sustainability, and global reach'
MUSCAT: In a world facing growing uncertainty and conflict, Oman is offering investors a rare combination of consistency, openness and long-term opportunity, according to H E Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion. Speaking at the opening of the Advantage Oman Forum 2025 at the St. Regis Al Mouj Muscat, Al Yousef told a gathering comprising global CEOs that Oman remains a trusted and stable partner at a time when more than 50 active conflicts are destabilising the global landscape. 'In such a world, Oman offers a rare value — consistency, openness, and reliability,' Al Yousef said. Reflecting on Oman's long history of international engagement, he recalled how Oman sent the first Arab ambassador to the United States in 1844, and continues to act as a quiet but effective bridge between different parts of the world. The minister said Oman's current transformation, driven by Vision 2040 and what he termed as Renaissance 2.0, is firmly focused on building a diversified, future-ready economy. He said the country is working towards becoming one of the world's leading green hydrogen producers, aiming to be the sixth largest by 2030. He also pointed to positive economic indicators, including a GDP growth rate of 3.4 per cent projected for 2025, higher than the global average, and a steady rise in foreign direct investment at an annual growth rate of 18 per cent over the last five years. Al Yousef said Oman's success is backed by strong governance, transparent policies and a legal system that supports the private sector and protects investments. The minister noted that Oman's sovereign credit rating has been upgraded by S&P Global to BBB- with a stable outlook, underlining growing international confidence in the country's economic fundamentals. Highlighting Oman's open trade policies, Al Yousef said the country remains committed to expanding international economic partnerships even as protectionism rises elsewhere. He emphasised the value of Oman's Free Trade Agreement (FTA) with the United States, offering investors a powerful platform to access one of the world's largest markets from a secure and strategically located base. He said Oman's young, ambitious and globally minded workforce is a key advantage for investors looking at long-term opportunities. 'Our true advantage lies not only in our infrastructure or policies, but in our people,' he said. © Muscat Media Group Provided by SyndiGate Media Inc. (
Zawya
28-04-2025
- Business
- Zawya
Oman projects 3.4% economic growth for 2025
MUSCAT: Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion, stated that Oman's GDP is expected to grow by 3.4% this year, outperforming many global economies—a testament to the resilience of the national economy and international market confidence. In his opening speech at the Advantage Oman Forum on April 27 in Muscat, Al Yousef said Foreign direct investment (FDI) inflows grew by 16.2% 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. Organised by the Ministry of Commerce, Industry, and Investment Promotion, the event 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. He 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.
Observer
27-04-2025
- Business
- Observer
Renaissance 2.0: Oman showcases new era of growth
MUSCAT: Oman's sweeping economic transformation, dubbed "Renaissance 2.0," took centre stage as Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, welcomed delegates from more than 30 countries to the inaugural Advantage Oman Forum in Muscat. In his opening remarks, Al Yousef positioned Oman as a resurgent force in the global economy, offering an inviting mix of traditional strengths and bold new strategies. Against a backdrop of volatile global markets and shifting economic power centres, Oman, he stressed, is charting a path of resilience and innovation underpinned by the ambitious Oman Vision 2040. 'We have reimagined the economic possibilities, streamlined and digitised procedures, and built an enterprise-driven environment underpinned by strong legislation," said Al Yousef. "This ensures that businesses are empowered to prosper, grow, and expand." Describing Oman's strategy as 'bold but calculated,' Al Yousef introduced Renaissance 2.0 as a sweeping renewal of the Sultanate of Oman's economic foundations. Under the leadership of His Majesty Sultan Haitham bin Tarik, the government has unleashed major reforms, particularly targeting infrastructure, trade, finance, and emerging industries. The Minister pointed to Oman's significant investments in national infrastructure — modern highways, deep-water ports, airports, free zones, and industrial estates — which together position the country as a gateway connecting Africa, Asia, and global markets. Oman's network of free trade agreements with the United States, Singapore, and others further strengthens this advantage, offering investors access to over one billion consumers. Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion. 'Our strategic location, exceptional infrastructure, and private-public partnership culture are designed to offer a compelling value proposition to global investors," Al Yousef added. A major highlight of the forum was Oman's green hydrogen ambitions. Thanks to its abundant natural resources — solar radiation, wind, and available land — Oman aims to become a top global exporter of green hydrogen. According to Al Yousef, production is forecast to reach one million tonnes annually by 2030, scaling up to 8.5 million tonnes by 2050. 'This positions Oman among the world's top five hydrogen producers by 2030,' Qais said. 'We are embracing the future with open arms, building new industries that are not only sustainable but also highly competitive.' The forum also spotlighted the Sultanate of Oman's macroeconomic resilience. Qais cited the projected GDP growth of 3.4% for 2025 — outpacing many major economies — and foreign direct investment (FDI) inflows that have surged to between $77 billion and $80 billion by the end of 2024, representing a 17% increase over the past two years. Global rating agencies have taken notice. S&P Global Ratings upgraded Oman's sovereign credit rating to BBB- with a stable outlook last September, marking the sixth upgrade in just two years. Supporting the investment environment, the government has launched initiatives like the Oman Investment Authority's Future Fund Oman and expanded financing solutions through the Development Bank, offering highly competitive rates to entrepreneurs and enterprises alike. Capping his remarks, Qais reflected on the spirit of exploration that has long defined Oman, invoking the boldness of ancient Omani navigators who ventured into uncharted waters. 'As our ancestors taught us, success lies in embracing innovation and taking calculated risks," Al Yousef said. "Through this Advantage Oman Forum, we offer a splendid showcase for the opportunities flourishing in this New and Renewed Renaissance – our Renaissance 2.0.' The Advantage Oman Forum marks a milestone moment for Oman's positioning on the global investment map, signaling the country's readiness to lead in a world shaped by resilience, sustainability, and innovation.
Times of Oman
27-04-2025
- Business
- Times of Oman
‘Oman offers investors stability, sustainability, and global reach'
MUSCAT: In a world facing growing uncertainty and conflict, Oman is offering investors a rare combination of consistency, openness and long-term opportunity, according to H E Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion. Speaking at the opening of the Advantage Oman Forum 2025 at the St. Regis Al Mouj Muscat, Al Yousef told a gathering comprising global CEOs that Oman remains a trusted and stable partner at a time when more than 50 active conflicts are destabilising the global landscape. 'In such a world, Oman offers a rare value — consistency, openness, and reliability,' Al Yousef said. Reflecting on Oman's long history of international engagement, he recalled how Oman sent the first Arab ambassador to the United States in 1844, and continues to act as a quiet but effective bridge between different parts of the world. The minister said Oman's current transformation, driven by Vision 2040 and what he termed as Renaissance 2.0, is firmly focused on building a diversified, future-ready economy. He said the country is working towards becoming one of the world's leading green hydrogen producers, aiming to be the sixth largest by 2030. He also pointed to positive economic indicators, including a GDP growth rate of 3.4 per cent projected for 2025, higher than the global average, and a steady rise in foreign direct investment at an annual growth rate of 18 per cent over the last five years. Al Yousef said Oman's success is backed by strong governance, transparent policies and a legal system that supports the private sector and protects investments. The minister noted that Oman's sovereign credit rating has been upgraded by S&P Global to BBB- with a stable outlook, underlining growing international confidence in the country's economic fundamentals. Highlighting Oman's open trade policies, Al Yousef said the country remains committed to expanding international economic partnerships even as protectionism rises elsewhere. He emphasised the value of Oman's Free Trade Agreement (FTA) with the United States, offering investors a powerful platform to access one of the world's largest markets from a secure and strategically located base. He said Oman's young, ambitious and globally minded workforce is a key advantage for investors looking at long-term opportunities. 'Our true advantage lies not only in our infrastructure or policies, but in our people,' he said.
