Latest news with #IbtisamAlFarooji
Times of Oman
11-05-2025
- Business
- Times of Oman
Oman, Hong Kong explore areas of joint cooperation
Muscat: Invest Oman lounge welcomed a high-level investment delegation from Invest Hong Kong, aiming to explore areas of economic collaboration and unlock new opportunities for joint growth. The visit, which underscored the depth of Oman–Hong Kong economic ties, included high-level meetings with key Omani government officials. The delegation brought together a diverse group of representatives from promising sectors including advisory, venture capital, digital asset management, and fintech. This breadth of expertise signals Hong Kong's expanding interest in Oman's dynamic market and the keenness to engage across multiple high-growth sectors. Discussions during the visit centered on potential areas of cooperation, from funding startups and advancing digital asset management to accelerating knowledge exchange and creating new pathways for cross-border investments that align with the development goals of both parties. Speaking on this occasion, Ibtisam Al Farooji, Undersecretary of the Ministry of Commerce, Industry, and Investment Promotion for Investment Promotion underscored that such high-level engagements represent a strategic platform for knowledge sharing and expanding cooperation in priority sectors. She emphasised that Oman places strong importance on strengthening its international partnerships in high-potential, mutually beneficial areas, in line with the aspirations of Oman Vision 2040. These efforts, she noted, contribute to driving economic diversification and attracting high-value investments that deliver long-term national impact. On his turn, King Leung, Global Head of Financial Services, Fintech and Sustainability at Invest Hong Kong emphasised that the Oman–Hong Kong relationship rests on a solid foundation of friendship and mutual understanding. He noted that the timing of the visit reflects Oman's rising stature as a regional and global investment hub, backed by a stable economic environment and a strategic geographic position. Investors from Hong Kong, he highlighted, are increasingly drawn to Oman's emerging sectors, particularly in digital and technological domains that are experiencing rapid growth. Hong Kong, as one of the world's foremost financial centers and an important international gateway for the People's Republic of China. It also undertakes a pivotal role in facilitating capital flows, linking Asian and global markets, and advancing cross-border investment. Its cooperation with Oman thus holds significant strategic importance for both economies.
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. (
Zawya
29-04-2025
- Business
- Zawya
Oman to set up $565mln solar manufacturing plant
Muscat: Oman has taken a major leap toward expanding its renewable energy landscape with the signing of a $565 million agreement to establish a state-of-the-art solar manufacturing plant in SOHAR Freezone. Announced during the Advantage Oman Forum in Muscat, the landmark project, facilitated by Invest Oman, underscores the Sultanate's commitment to clean energy and industrial diversification under Oman Vision 2040. The agreement was signed between JA Solar Energy — one of the world's top four manufacturers and suppliers of high-efficiency solar cells and modules — and key Omani entities including Invest Oman, SOHAR Port and Freezone, and Majis Industrial Services. With operations scheduled to commence in 2025, the facility will cover 32.8 hectares in the second phase of the SOHAR Freezone. It will boast an annual production capacity of 6 gigawatts of solar cells and 3 gigawatts of solar modules, serving major markets across Europe, the United States, and the region. The project represents a coordinated effort between multiple government bodies, including the Public Authority for Special Economic Zones and Free Zones (OPAZ), the Authority for Public Services Regulation, Oman Electricity Transmission Company (OETC), NAMA Supply, and Majis Industrial Services, with Invest Oman playing a central enabling role. Ibtisam Al Farooji, Undersecretary of the Ministry of Commerce, Industry, and Investment Promotion for Investment Promotion, said: 'The signing of these landmark agreements underscores Oman's commitment to fostering a competitive and sustainable investment environment. 'This project aligns with Oman Vision 2040 by enhancing renewable energy capabilities, creating economic value, and driving innovation in clean energy technologies. 'Through Invest Oman's collaborative efforts, the Sultanate continues to position itself as a global hub for strategic, sustainable investments.' She added, 'As the government's dedicated gateway for investment promotion, Invest Oman played a pivotal role in realising this project. The plant's advanced technology and large-scale production will significantly boost the country's renewable energy potential and contribute to global sustainability efforts.' Mohammed Al Shizawi, Acting CEO of SOHAR Freezone, highlighted the project's broader significance. He said: 'The expansion of SOHAR Freezone highlights our strong appeal to investors and our key role in driving economic growth. With its strategic advantages and advanced infrastructure, the freezone is the perfect foundation for innovative projects like this one. By localising solar panel production, we reduce our carbon footprint and set a new sustainability benchmark, while strengthening the renewable energy cluster and downstream industries.' Victor Yang, President of JA Solar's Investment and Financing Center, said the plant would strengthen the regional and global solar supply chain. 'Our facility marks a significant advancement in the solar PV supply chain. The strategic location within SOHAR Freezone offers essential logistics and positions us in a rapidly growing renewable energy hub. By utilising cutting-edge technologies, we aim to produce high-quality, affordable solar cells and panels that enhance accessibility and attract global investment, while expanding our presence in key markets,' he said. Fan Jingchao, General Manager of JA Solar OM (FZC) SPC, said: 'This facility integrates all key components from polysilicon to modules, and will accelerate the clean energy transition. Our investment strengthens Oman's renewable infrastructure and contributes meaningfully to global sustainability goals.' With Phase 1 of SOHAR Freezone already 85% leased, Phase 2 — where the new facility will be located — is actively expanding to meet rising demand across its 675 hectares of land. The establishment of this manufacturing plant further solidifies SOHAR Freezone's growing reputation as a strategic hub for sustainable industrial development and global trade. The solar manufacturing project is poised to play a transformative role in advancing Oman's clean energy transition, driving industrial diversification, and reinforcing the Sultanate's emergence as a regional leader in renewable technologies. © Muscat Media Group Provided by SyndiGate Media Inc. (
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.
Times of Oman
28-04-2025
- Business
- Times of Oman
Oman to set up $565 million solar manufacturing plant
Muscat: Oman has taken a major leap toward expanding its renewable energy landscape with the signing of a $565 million agreement to establish a state-of-the-art solar manufacturing plant in SOHAR Freezone. Announced during the Advantage Oman Forum in Muscat, the landmark project, facilitated by Invest Oman, underscores the Sultanate's commitment to clean energy and industrial diversification under Oman Vision 2040. The agreement was signed between JA Solar Energy — one of the world's top four manufacturers and suppliers of high-efficiency solar cells and modules — and key Omani entities including Invest Oman, SOHAR Port and Freezone, and Majis Industrial Services. With operations scheduled to commence in 2025, the facility will cover 32.8 hectares in the second phase of the SOHAR Freezone. It will boast an annual production capacity of 6 gigawatts of solar cells and 3 gigawatts of solar modules, serving major markets across Europe, the United States, and the region. The project represents a coordinated effort between multiple government bodies, including the Public Authority for Special Economic Zones and Free Zones (OPAZ), the Authority for Public Services Regulation, Oman Electricity Transmission Company (OETC), NAMA Supply, and Majis Industrial Services, with Invest Oman playing a central enabling role. Ibtisam Al Farooji, Undersecretary of the Ministry of Commerce, Industry, and Investment Promotion for Investment Promotion, said: 'The signing of these landmark agreements underscores Oman's commitment to fostering a competitive and sustainable investment environment. 'This project aligns with Oman Vision 2040 by enhancing renewable energy capabilities, creating economic value, and driving innovation in clean energy technologies. 'Through Invest Oman's collaborative efforts, the Sultanate continues to position itself as a global hub for strategic, sustainable investments.' She added, 'As the government's dedicated gateway for investment promotion, Invest Oman played a pivotal role in realising this project. The plant's advanced technology and large-scale production will significantly boost the country's renewable energy potential and contribute to global sustainability efforts.' Mohammed Al Shizawi, Acting CEO of SOHAR Freezone, highlighted the project's broader significance. He said: 'The expansion of SOHAR Freezone highlights our strong appeal to investors and our key role in driving economic growth. With its strategic advantages and advanced infrastructure, the freezone is the perfect foundation for innovative projects like this one. By localising solar panel production, we reduce our carbon footprint and set a new sustainability benchmark, while strengthening the renewable energy cluster and downstream industries.' Victor Yang, President of JA Solar's Investment and Financing Center, said the plant would strengthen the regional and global solar supply chain. 'Our facility marks a significant advancement in the solar PV supply chain. The strategic location within SOHAR Freezone offers essential logistics and positions us in a rapidly growing renewable energy hub. By utilising cutting-edge technologies, we aim to produce high-quality, affordable solar cells and panels that enhance accessibility and attract global investment, while expanding our presence in key markets,' he said. Fan Jingchao, General Manager of JA Solar OM (FZC) SPC, said: 'This facility integrates all key components from polysilicon to modules, and will accelerate the clean energy transition. Our investment strengthens Oman's renewable infrastructure and contributes meaningfully to global sustainability goals.' With Phase 1 of SOHAR Freezone already 85% leased, Phase 2 — where the new facility will be located — is actively expanding to meet rising demand across its 675 hectares of land. The establishment of this manufacturing plant further solidifies SOHAR Freezone's growing reputation as a strategic hub for sustainable industrial development and global trade. The solar manufacturing project is poised to play a transformative role in advancing Oman's clean energy transition, driving industrial diversification, and reinforcing the Sultanate's emergence as a regional leader in renewable technologies.
