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Observer
28-06-2025
- Business
- Observer
Oman concludes guest of honour role at Algiers Fair
ALGIERS: The Sultanate of Oman has concluded its prominent role as Guest of Honour at the 56th Algiers International Fair, which commenced on 23 June. Oman's delegation was led by Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, and included Faisal bin Abdullah Al Rawas, Chairman of the Oman Chamber of Commerce and Industry, alongside officials from government and private sectors. Oman's national pavilion showcased 60 government and private companies and institutions operating across various economic and service sectors. It also featured small and medium-sized enterprises (SMEs) and traditional craftspeople, offering a rich blend of innovation and heritage. On the sidelines of the fair, the Omani-Algerian Businessmen Forum was held, spotlighting investment prospects in logistics, manufacturing, and real estate development. The forum facilitated bilateral meetings between Omani and Algerian entrepreneurs, paving the way for collaborative ventures. Mohammed bin Khalaf al Hamdani from Oman Exports highlighted that Oman's pavilion enabled visitors to gain first-hand insight into the nation's industrial capabilities, heritage, and investment potential. He noted that some participating companies successfully signed export agreements with Algerian buyers, while others are in negotiations to establish joint commercial partnerships aimed at expanding their distribution across North Africa. Dr Saif bin Khamis al Maamari, Head of the OPEX Operations Team, remarked that Oman's role as Guest of Honour was supported by a series of events designed to boost investment and export opportunities. These initiatives helped strengthen economic ties in sectors including urban planning, manufacturing, and logistics. Algerian visitors expressed strong interest in Omani products, praising their quality and competitive pricing. According to al Maamari, this has led to discussions about distribution agreements in sectors such as plastics, agriculture, electricity, and food production. Dr Rashid bin Hamad al Alawi, Director of the Investment Department at Madayn, underscored the agency's aim to promote Oman's industrial cities and attract Algerian investment. Meetings were held with several Algerian firms interested in the incentives available in Oman's industrial estates. Ibrahim bin Sulaiman al Hinai, a specialist at the Authority for SME Development, reaffirmed the commitment to supporting local entrepreneurs by facilitating their participation in international events. Meanwhile, Ibrahim bin Saud al Balushi, Director at Al Madina Logistics Services, noted the company's role in ensuring smooth transport of Omani goods and supporting exporters interested in the Algerian market. Overall, Oman's participation not only elevated its profile in North Africa but also opened avenues for increased trade and collaboration with Algeria. — ONA
Times of Oman
19-02-2025
- Business
- Times of Oman
Asyad Shipping organises series of IPO roadshows across several governorates in Oman
Muscat: Demonstrating its commitment to investor engagement, Asyad Shipping S.A.O.G ("under transformation"), the maritime arm of Asyad Group, and one of the world's largest diversified maritime and shipping solutions providers, launched a series of Roadshows on its upcoming initial public offering (IPO) across several governorates in Oman, including Muscat, North Al Batinah, Dhofar, Al Buraimi, and other key locations, between February 19 and 25, 2025. In collaboration with the Oman Chamber of Commerce and Industry, these roadshows will reflect Asyad Shipping's commitment to transparency and proactive engagement with the public. Designed to inform investors about the IPO details and the strategic investment opportunities it will offer, the roadshows will serve as a direct platform for investors and stakeholders to interact with Asyad Shipping's leadership. Attendees will gain in-depth insights into the company's financial performance and growth strategy, while also having the opportunity to address any inquiries about its future trajectory. This initiative will play a crucial role in fostering investor confidence, reinforcing the company's commitment to long-term sustainable growth, and contributing to the diversification of Oman's economy. The IPO subscription period for Asyad Shipping shares is set to commence on February 20th and will continue until February 27th, with shares allocated across various investor categories, including institutions, individuals, and anchor investors. It is planned to organise 7 roadshows, the first will be held on the 19th of February in the Wilayat of Ibri, Ad Dhahirah Governorate. Meanwhile, the second event is scheduled for the 19th of February at the Chamber's branch in South Al Batinah Governorate in the Wilayat of Al Rustaq. The roadshows will continue on the 20th of February in the Wilayats of Sohar and Al Buraimi, followed by Salalah on the 23rd, Nizwa on the 24th, and concluding in Muscat on the 25th of February. The Offering will be made available in two tranches to eligible and qualified institutional investors in Oman and other institutional investors in a number of countries (the "Category I Investors") and retail investors in Oman ("Category II Investors"). It will be conducted in the manner approved by the FSA and will be carried out concurrently. Category II (Retail Tranche) Offer represents 25% of the total Offering for retail investors in Oman. Commenting on the IPO roadshows, Sheikh Faisal bin Abdullah Al Rawas, Chairman of the Oman Chamber of Commerce and Industry, stated: "We are pleased to host the IPO roadshows for Asyad Shipping as part of our ongoing efforts to strengthen collaboration between government entities and support national initiatives aimed at economic diversification. This IPO reflects Oman's commitment to expanding its maritime sector and attracting strategic investments, in line with the objectives of Oman Vision 2040, which focuses on empowering key industries and enhancing the investment landscape. We are confident that this offering will further solidify Oman's position as a global logistics hub and generate long-term value for the national economy.' Asyad Shipping Company is one of the world's largest diversified maritime providers and a global leader in deep-sea transportation with a full suite of operational capabilities. Wholly owned by Asyad Group, Asyad Shipping leverages the Group's advanced infrastructure and shared resources to provide comprehensive solutions to customers around the world, including liner services, ship management and chartering activities. Based in Oman, the company operates 89 vessels reaching over 60 countries. Established in 2003, the Company has developed fully integrated operations and cultivated longstanding relationships with a diverse and international top-tier customer base. The Asyad Shipping IPO is positioned as one of the most significant public offerings in Oman, drawing strong interest from both local and international investors. Given the company's industry leadership, robust financial performance, and operational excellence, the IPO is expected to play a pivotal role in Oman's capital market and economic growth, as highlighted in the official prospectus.
Observer
13-02-2025
- Business
- Observer
Initiatives to bolster private sector's role in economic growth
MUSCAT, FEB 12 The Oman Chamber of Commerce and Industry (OCCI) has launched 14 new initiatives aimed at firming up its strategy to support Oman's economic development. The initiatives, along with detailed plans for their implementation, were approved during the closing of the Chamber's developmental workshop on Wednesday, February 12, 2025. The event was attended by several senior officials, including Dr Khamis bin Saif Al Jabri, Head of the Oman Vision 2040 Implementation Follow-Up Unit, and Shaikh Faisal bin Abdullah Al Rawas, Chairman of OCCI. The initiatives included six focused on improving the business environment, such as a smart guide for investment regulations and a technical team to review economic laws. Four initiatives aimed at boosting economic development in Oman's governorates, including partnerships between OCCI branches and local governments. The remaining four sought to expand economic diversification, with measures like enhancing investment incentives and promoting Omani products at international trade fairs. Shaikh Faisal al Rawas emphasised the importance of the workshop as part of OCCI's ongoing efforts to support the private sector and enhance its role in the national economy. He noted that the workshop brought together a select group of experts, business owners, and relevant stakeholders to ensure that the resulting programmes and projects would serve the private sector's needs and align with the strategic priorities of Oman Vision 2040. 'We are committed to fostering dialogue and collaboration between the public and private sectors,' he added, highlighting the workshop's role in generating initiatives that will enhance Oman's competitiveness and create new opportunities for the private sector. Zakaryia al Saadi, CEO of OCCI, explained that the developmental workshop reflected a new approach embraced by the Chamber, centred on discussion sessions and joint working with various stakeholders from both the public and private sectors. This approach ensures that the initiatives align with the national priorities of Vision 2040, with tangible, actionable outcomes. Al Saadi further noted that the OCCI, in collaboration with the Follow-Up Unit for Vision 2040, had created a detailed plan to ensure the successful execution of these initiatives, designed to deliver significant impact by enhancing the private sector's contributions to the economy. Fulfilling its role in ensuring the effective implementation of these initiatives, the OCCI has established an office dedicated to tracking the progress of Vision 2040, in line with its commitment to fostering sustained economic growth and cooperation. The developmental workshop has been praised by participants, who emphasised its importance in shaping Oman's future. Hassan Al Ishaqi, Chairman of OCCI's Retail and Trade Committee, commended the productive discussions, particularly the initiatives aimed at improving the business environment.
