Latest news with #FaisalbinAbdullahalRawas
Muscat Daily
4 days ago
- Business
- Muscat Daily
Tamkeen & Sumo exhibition backs SME growth in Dhofar
Salalah – More than 75 small and medium enterprises from sectors including tourism, retail, food and beverage, and handicrafts are taking part in an exhibition called 'Tamkeen & Sumo', which opened in Salalah on Tuesday evening. Organised by the SME Committee of Oman Chamber of Commerce and Industry (OCCI), the exhibition at Atina Land opened under the patronage of H H Sayyid Harib bin Thuwaini al Said, Assistant Secretary-General for Conferences in Council of Ministers. The event will run till August 20. Sheikh Faisal bin Abdullah al Rawas, Chairman of OCCI, said the exhibition 'goes beyond a promotional platform' and offers 'a space for engagement and partnership building between SMEs and business sectors'. He added that Tamkeen & Sumo reflects the chamber's efforts to support SMEs as a core part of the national economy in line with Oman Vision 2040. 'Through this exhibition, we aim to enable SMEs to access new markets, explore cooperation and investment opportunities, and engage in knowledge exchange with entrepreneurs and support entities.' Sheikh Ahmed bin Amer al Musalhi, Chairman of the SME Committee, described the exhibition as 'an opportunity to promote SME products and services and boost their competitiveness in the local market'. He stressed that building business relations with private sector institutions is a key goal. 'We continue working to enhance SME participation in events and exhibitions, believing in their role in economic development, job creation and knowledge transfer,' he said. On the sidelines of the exhibition, a memorandum of cooperation was signed between OCCI's Social Investment Centre and the Business Development Centre, which owns the 'Hissaty' platform. The agreement aims to develop social investment tools that empower SME owners and align with Oman Vision 2040. According to organisers, the agreement is a strategic step towards fostering a culture of social investment within the business environment. The exhibition includes dedicated sections such as Entrepreneurs' Corner, Innovation Corner, Handicraft Workshops Corner and Junior Entrepreneur Corner. The latter showcases children's talent. It also features the Sohar International Competition to highlight brand identity and encourage creativity and excellence.
Observer
02-08-2025
- Business
- Observer
Omani-Bahraini products expo to open in Salalah on Aug 10
SALALAH: The fifth edition of the Omani-Bahraini Products Exhibition will take place in the Wilayat of Salalah, Dhofar Governorate, from August 10, as part of efforts to strengthen economic ties between Oman and Bahrain. Organised by the Omani-Bahraini Friendship Association, the 10-day exhibition will be held under the auspices of Faisal bin Abdullah al Rawas, Chairman of Oman Chamber of Commerce and Industry (OCCI). Radina al Hajri, Chairwoman of the Omani-Bahraini Friendship Association, stated that the event is being organised in collaboration with the Embassy of Bahrain in Oman and OCCI's Dhofar Governorate branch. It is timed to coincide with the Dhofar Khareef Season 2025 — an annual attraction for local and regional tourism. Al Hajri noted that the exhibition aims to deepen the longstanding fraternal ties between the two nations while providing a platform for small and medium-sized enterprises (SMEs) to showcase and market their products. The exhibition will feature around 33 Omani and Bahraini entrepreneurs offering a variety of products, including perfumes, incense, frankincense, traditional clothing and abayas, handicrafts, honey, dates and Bahraini sweets. She emphasised that such initiatives reflect the shared vision of the leadership of both nations to boost cooperation and integration in trade and investment. — ONA
Muscat Daily
30-06-2025
- Business
- Muscat Daily
OCCI's franchise programme to take 25 Omani brands global
Muscat – Oman Chamber of Commerce and Industry (OCCI) has launched the fourth edition of its Franchise Programme aimed at assisting 25 Omani brands through training, consultancy and field support. The programme is part of the chamber's wider strategy to develop national brands and enhance their competitiveness in local and international markets. Speaking at the launch, Faisal bin Abdullah al Rawas, Chairman of OCCI, said the programme focuses on building sustainable business models based on global best practices. 'This programme underscores our commitment to enhancing the value of Omani products and creating a supportive environment for business growth and international competitiveness,' he stated. Rawas urged local business owners to take advantage of programme, which he described as a key opportunity for companies seeking to scale and enter the international franchise ecosystem. Humood bin Salim al Saadi, Second Deputy Chairman of OCCI and Head of Central Franchise Committee, said the programme responds to growing demand for scalable and innovative business models. He noted that selected brands will receive targeted guidance to support their transition into franchising. In a move to enhance regional collaboration, OCCI signed a memorandum of cooperation with Federation of Saudi Chambers during the launch event. As part of the agreement, the first Oman-Saudi Franchise Exhibition will be held from September 29 to October 2, 2025. The event aims to create a platform for investment, promote Omani and Saudi brands, and encourage cross-border partnerships. OCCI also signed a memorandum of understanding with UAE Association of Franchise & Trademarks (TAGMOA) for collaborations in exhibitions, conferences, training, marketing and knowledge exchange. The agreements are expected to strengthen Oman's franchise sector and expand the presence of Omani brands in regional and global markets.
Observer
03-06-2025
- 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.
