Latest news with #FaisalbinAbdullahalRawas
Observer
6 hours ago
- Business
- Observer
Oman, Bahrain explore strengthening ties
MUSCAT: Faisal bin Abdullah al Rawas, Chairman of Oman Chamber of Commerce and Industry (OCCI), on Tuesday received Abdulla Adel Fakhro, Minister of Industry and Commerce of the Kingdom of Bahrain. The two sides discussed ways to enhance trade and investment cooperation between Oman and Bahrain, expanding opportunities for private sector partnerships in both countries through joint ventures and knowledge exchange, contributing to bilateral relations and economic integration. The meeting also reviewed opportunities in key economic sectors of mutual interest and explored mechanisms to activate the private sector's role in establishing joint projects that support economic development in both nations. Al Rawas emphasised the significant progress in economic relations between Oman and Bahrain, expressing hope that this meeting would lead to further initiatives boosting trade and investment cooperation while opening new avenues for business owners in promising economic sectors. He highlighted the private sector's pivotal role in driving future cooperation through strategic partnerships and high-quality projects that align with both countries' development visions — "Oman Vision 2040" and "Bahrain 2030" — while praising the efforts of the Oman-Bahrain Investment Company and the Oman-Bahrain Friendship Society in strengthening bilateral ties. The meeting was attended by several OCCI board members, executive officials and representatives from both sides. - ONA
Observer
26-05-2025
- Business
- Observer
Oman, East Africa explores investment opportunities
Muscat: The two-day Oman-East Africa Business Forum and East Africa Trade and Investment Exhibition 2025, organised by the Oman Chamber of Commerce and Industry in collaboration with Global Digital Technologies, began on Monday at St Regis Resort, Muscat. The forum and exhibition present the opportunity to exchange insights, explore investment opportunities, and establish trade partnerships that will help boost commercial exchange and diversify sources of income, in alignment with Oman Vision 2040 and the economic development goals of East African nations. Faisal bin Abdullah al Rawas, Chairman of Oman Chamber of Commerce and Industry (OCCI), said that hosting the forum and exhibition stems from the strong belief in the importance of building effective regional partnerships that contribute to sustainable development and open new avenues of cooperation in promising key sectors, including trade and investment, renewable energy, sustainable development, education and human capital development, fintech and digital transformation, infrastructure and logistics services, agribusiness and food security, and innovation. "The Omani–African relationship is not a product of today; rather, it is deeply rooted in history. Oman has been connected with East African nations through strong cultural and trade ties for centuries, during which commercial and knowledge exchanges flourished, fostering human and economic relationships that laid a solid foundation for long-standing cooperation. Today, we affirm that these relations are entering a new phase of growth and integration, guided by a clear vision for a shared economic future, backed by sincere political and diplomatic will, and driven by the private sector on both sides," Al Rawas said. Richard Ngatia, President, East Africa Chamber of Commerce, Industry and Agriculture, said that East Africa is a dynamic region of over 400 million people with a population whose average age is around 22 – a huge asset in terms of human capital and market potential. Collectively, he pointed out that the economies have a GDP exceeding $300 billion and are growing steadily. "We are investing heavily in infrastructure and technology. New railways, expanded ports and widespread 4G/5G connectivity are opening the region and lowering the cost of doing business. Major multinationals have established regional hubs in East Africa, reflecting global confidence in our stability and potential. Ongoing reforms and regional integration efforts are further improving the business climate. In short, East Africa offers a youthful market, an improving business climate, and a strong commitment to openness – fertile ground for investment across many sectors," he said. Agriculture is the backbone of East Africa's economy, employing the majority of the people and contributing a large share of GDP. The region's lands produce crops and products such as tea, coffee, flowers, beef, avocados, frankincense (in Somalia), and more, that bring in much-needed foreign exchange. East Africa exported over 500 million kilogrammes of tea last year, with Kenya alone earning about $1.5 billion. Yet farming is often small-scale and rain-dependent, leaving the sector vulnerable to droughts and climate change, the chairman pointed out, adding, "Investment opportunities include irrigation and water management systems to support year-round farming, reducing dependence on unpredictable seasonal rains, and investing in machinery, storage and post-harvest processing technology to enable larger-scale, more efficient farming and cut post-harvest losses." "To truly prosper, East Africa must export finished goods, not just raw materials. Manufacturing today contributes only around 11% of our GDP and has stagnated – but we are determined to change that by attracting investment and diversifying our industrial base. Opportunities in manufacturing range from everyday consumer products to processed goods demanded by East Africa's growing middle class and across the region," he explained. In Rwanda, for instance, one can register a new business and obtain all required licences in a single day. Such reforms lower barriers to entry and encourage new factories. He said another asset of East Africa is its abundant mineral resources, from gold and gemstones to strategic 'green economy' minerals like cobalt and rare earth elements. The Democratic Republic of Congo, now part of the EAC, is the world's largest cobalt producer and holds huge reserves of copper, gold, diamonds, and other minerals. Tanzania is also a producer of gold, diamonds, and the rare tanzanite, while Uganda and Rwanda are exploring new deposits of lithium and tantalum. Burundi offers notable opportunities in gold, nickel and cobalt mining. South Sudan's emerging oil industry is holding significant reserves. "Yet much of this mineral wealth remains underdeveloped due to infrastructure and investment gaps. As global demand for critical minerals soars, East Africa's mining sector is poised for a transformative boom," he explained. Opportunities in mining include developing mines and processing facilities for high-demand resources such as cobalt, lithium, graphite and other battery metals essential to electric vehicles and renewable energy technologies. He said East Africa has emerged as a leader in fintech and digital innovation on the continent with examples such as Kenya's M-PESA mobile money platform, revolutionising financial transactions.
Observer
16-04-2025
- Business
- Observer
Oman-Türkiye Forum 2025 set to strengthen economic ties
MUSCAT: The Oman Chamber of Commerce and Industry (OCCI) has officially announced the Oman- Türkiye International Forum 2025, a landmark event aimed at enhancing trade and investment relations between the Sultanate of Oman and the Republic of Turkey. Speaking at a press conference here on April 16, 2025, the Chamber revealed that the forum will take place from December 15 to 17, 2025 at the Oman Convention and Exhibition Centre. The event will see wide participation from government officials, business leaders, and investors from both nations. Organised in strategic partnership with the Oman-Türkiye Business Council, Tastir (Oman), and Discover Events (Türkiye), the forum aims to unlock new opportunities for collaboration across more than 15 vital economic sectors, including manufacturing, tourism, ICT, real estate, logistics, agriculture, healthcare, and education. Shaikh Faisal bin Abdullah al Rawas, Chairman of the OCCI, described the forum as 'timely and strategic,' aligning with Oman Vision 2040 to expand foreign investment and foster economic diversification. 'This initiative builds upon our historic and friendly ties with Türkiye. It represents a unique platform to promote vital sectors and encourage productive partnerships,' he said. The event will feature bilateral meetings, a specialised trade exhibition, and workshops tailored to highlight investment-ready projects in both countries. Omani businesses will have the chance to explore Turkish markets, while Turkish investors are expected to benefit from Oman's stable and attractive investment climate. Shaikh Salem bin Abdullah al Rawas, Chairman of the Omani side of the Oman-Türkiye Business Council, said the forum was more than a traditional economic gathering. 'It is a foundation for long-term strategic partnerships that will support job creation and national economic growth,' he noted. Dr Muhammet Hekimoğlu, Türkiye's Ambassador in the Sultanate of Oman, shed light on the importance of the upcoming forum saying, "In recent years, the global market has witnessed remarkable growth and development. Against this backdrop, efforts are underway to strengthen economic and cultural ties between Oman and Türkiye." "Officials have expressed their hopes that Turkish products will gain greater recognition in the Omani market, while Omani goods are expected to become increasingly familiar to consumers in Türkiye." Dr Hekimoğlu added. "Furthermore, both nations are optimistic about a steady rise in tourism, with growing numbers of Omani visitors travelling to Türkiye, and Turkish tourists exploring the many attractions Oman has to offer. These developments are seen as a positive step towards deeper cooperation and mutual prosperity between the two countries," Dr Hekimoğlu stated. Yunus Atay, Chairman of the Turkish counterpart of the Business Council, highlighted Oman's strategic location and stability as key factors for Turkish investment. 'We see Oman as a gateway to the Gulf and East Africa. This forum is a step towards strengthening cooperation and expanding Turkish investments in the region,' he said. The event will also include the signing of memoranda of understanding, business agreements, and panel discussions on Oman's investment laws and incentives. Cultural activities showcasing Omani and Turkish heritage will complement the business programme, reinforcing mutual understanding and collaboration. Eng Awad al Kathiri, Chairman of Tastir, emphasised that the forum would be organised to international standards and serve as a regional model for economic events. 'Our aim is to provide a dynamic platform that connects decision-makers, facilitates dialogue, and presents real investment opportunities,' he said. The Oman-Türkiye International Forum 2025 is expected to mark a significant step in deepening bilateral ties, supporting Oman's economic diversification agenda, and fostering mutually beneficial partnerships between two friendly nations.
Zawya
27-03-2025
- Business
- Zawya
Oman-India business meeting explores investment options
Muscat – The Oman Chamber of Commerce and Industry (OCCI), in collaboration with the Indian Economic Trade Organisation, hosted the Omani-Indian Businessmen's meeting on Tuesday, focusing on strengthening trade and economic cooperation between the two nations. Business leaders from both the countries exchanged expertise and explored investment opportunities in key sectors, including renewable energy, oil and gas, fisheries and aquaculture, industry, trade, healthcare, pharmaceuticals, and human resources. The event aimed to foster strategic partnerships that drive sustainable development. Faisal bin Abdullah al Rawas, Chairman of OCCI, said that the meeting aligns with the chamber's ongoing efforts to enhance private-sector collaboration between Oman and India. He highlighted the significance of such gatherings in identifying new avenues for cooperation and maximising emerging economic opportunities. 'Omani-Indian economic relations have witnessed remarkable growth in recent years, with forums and business meetings playing a pivotal role in deepening cooperation and uncovering investment prospects,' Rawas stated. He stressed that bilateral engagements between business leaders pave the way for stronger trade relations, new partnerships and the exchange of expertise. The meeting featured bilateral discussions aimed at strengthening trade and investment ties, with a focus on high-potential sectors central to sustainable development. 'Let us work together to transform these opportunities into productive partnerships and impactful projects,' Rawas added. On the sidelines, Rawas met with the Indian delegation led by Oscar Kerketta, Chairman of the Energy Committee of the Indian Economic Trade Organisation. Their discussions centred on enhancing collaboration in key strategic sectors and expanding trade and investment relations. The event also marked the launch of a book highlighting the historical, economic, and diplomatic ties between Oman and India, commemorating the 70th anniversary of bilateral relations.
Muscat Daily
27-03-2025
- Business
- Muscat Daily
Oman-India business meeting explores investment options
Muscat – The Oman Chamber of Commerce and Industry (OCCI), in collaboration with the Indian Economic Trade Organisation, hosted the Omani-Indian Businessmen's meeting on Tuesday, focusing on strengthening trade and economic cooperation between the two nations. Business leaders from both the countries exchanged expertise and explored investment opportunities in key sectors, including renewable energy, oil and gas, fisheries and aquaculture, industry, trade, healthcare, pharmaceuticals, and human resources. The event aimed to foster strategic partnerships that drive sustainable development. Faisal bin Abdullah al Rawas, Chairman of OCCI, said that the meeting aligns with the chamber's ongoing efforts to enhance private-sector collaboration between Oman and India. He highlighted the significance of such gatherings in identifying new avenues for cooperation and maximising emerging economic opportunities. 'Omani-Indian economic relations have witnessed remarkable growth in recent years, with forums and business meetings playing a pivotal role in deepening cooperation and uncovering investment prospects,' Rawas stated. He stressed that bilateral engagements between business leaders pave the way for stronger trade relations, new partnerships and the exchange of expertise. The meeting featured bilateral discussions aimed at strengthening trade and investment ties, with a focus on high-potential sectors central to sustainable development. 'Let us work together to transform these opportunities into productive partnerships and impactful projects,' Rawas added. On the sidelines, Rawas met with the Indian delegation led by Oscar Kerketta, Chairman of the Energy Committee of the Indian Economic Trade Organisation. Their discussions centred on enhancing collaboration in key strategic sectors and expanding trade and investment relations. The event also marked the launch of a book highlighting the historical, economic, and diplomatic ties between Oman and India, commemorating the 70th anniversary of bilateral relations.
