Latest news with #InvestOman
Times of Oman
25-05-2025
- Business
- Times of Oman
Oman, Qatar explore strengthening trade exchange
Muscat: Qais Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion, on Sunday received Dr. Ahmed bin Mohammed Al Sayed, Minister of State for Foreign Trade of the State of Qatar, at the "Invest Oman" lounge to discuss enhancing trade and investment exchange between the two countries. The meeting reviewed the growing economic relations between Oman and Qatar and explored ways to strengthen joint cooperation in commercial and investment fields. This aims to achieve mutual benefits and contribute to advancing economic development in both nations. During the visit, several visual presentations were delivered, including an overview of the Ministry of Commerce, Industry, and Investment Promotion's mandates, an introduction to the "Invest Oman" platform, and a showcase of the Ministry's strategic partnerships and overseas offices. Additionally, investment opportunities available through the Ministry of Housing and Urban Planning were highlighted. The Qatari delegation toured various sections of the "Invest Oman" lounge and examined the integrated services it provides to local and international investors. Designed as a unified window, the facility helps expedite procedures and offers an attractive, investment-friendly environment. The meeting also featured a detailed presentation on Oman's investment incentives, the "Investor Residency" program, and the facilities available in special economic zones and free zones, which serve as key pillars for attracting investors to Oman. The meeting was attended by Dr. Saleh Said Masan, Undersecretary of the Ministry of Commerce, Industry, and Investment Promotion for Commerce and Industry, Ibtisam Ahmed Al Farooji, Undersecretary of the Ministry of Commerce, Industry, and Investment Promotion for Investment Promotion, Sheikh Jassim Abdulrahman Al Thani, Qatar's Ambassador to Oman and several officials from both sides.
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
05-05-2025
- Business
- Zawya
Oman deal to set up $34mln industrial salt venture
Minerals Development Oman (MDO) has signed a strategic partnership agreement with Dev Salt to launch the Naqa Salt Project in Wilayat Mahout - set to become the largest industrial salt production initiative in the region. The agreement was signed by Eng Mattar bin Salim Al Badi, CEO of MDO, and Hirendrasingh Jhala, Chairman of Dev Global, in the presence of Ibtisam Ahmed Said Al Farooji, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion. The signing took place in collaboration with the Invest in Oman platform. Strategically located in Mahout, Al Wusta Governorate - within MDO's 51K concession area along the Arabian Sea — the project capitalises on ideal conditions for solar evaporation. Its proximity to Duqm Port further strengthens its export competitiveness to key global markets, particularly those relying on inputs such as bromine, caustic soda, and soda ash. The project will utilize sustainable, solar-powered evaporation technology to produce high-purity bromine-rich industrial salt. On the occasion, Al Farooji stated: 'We are pleased to support this partnership, which stands as a practical model for effective public-private collaboration. The Naqa Salt Project will advance the mining sector's alignment with Oman's economic diversification goals by attracting sustainable, clean-energy-driven investments. It also opens new pathways for SMEs to play a vital role in the national value chain. This aligns perfectly with the objectives of the Invest Oman platform, which seeks to attract high-impact investments and build strategic partnerships across value-added sectors - most notably mining, a key pillar of our national economy.' Eng Al Badi said: 'Naqa Salt represents a significant step for Oman's mining sector, establishing the region's largest facility for high-grade industrial salt production. Leveraging Mahout's unique natural sabkha formations, the project embodies a forward-thinking, eco-conscious approach to resource development. It reflects our unwavering commitment to sustainable growth and long-term economic and environmental impact.' 'With a planned investment of OMR13.4 million ($34.83 million), the project aims to produce 2 million tonnes of industrial salt annually. The evaporation ponds will span approximately 109 square kilometers, yielding salt with up to 99% purity—ideal for vital sectors such as chemicals, oil and gas, logistics, food, and pharmaceuticals. The project is targeting diversified international markets including India, Africa, Europe, and Asia.' Jhala commented: 'We are honoured to partner with MDO on this ambitious and strategically important project. Building on Dev Salt's expertise in delivering large-scale salt ventures across India and global markets, we are confident in the project's ability to meet growing demand while supporting industrial resilience and supply chain security in this key sector.' With global demand for industrial salt expected to exceed 372 million tonnes by 2027, the Naqa Salt Project positions Oman as a future-leading producer in the region. Beyond its industrial contributions, the project offers environmental value — its evaporation ponds will create habitats that attract migratory birds and marine life, laying the groundwork for potential eco-tourism development. - TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
04-05-2025
- Business
- Trade Arabia
Oman deal to set up $34m industrial salt venture
Minerals Development Oman (MDO) has signed a strategic partnership agreement with Dev Salt to launch the Naqa Salt Project in Wilayat Mahout - set to become the largest industrial salt production initiative in the region. The agreement was signed by Eng Mattar bin Salim Al Badi, CEO of MDO, and Hirendrasingh Jhala, Chairman of Dev Global, in the presence of Ibtisam Ahmed Said Al Farooji, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion. The signing took place in collaboration with the Invest in Oman platform. Strategically located in Mahout, Al Wusta Governorate - within MDO's 51K concession area along the Arabian Sea — the project capitalises on ideal conditions for solar evaporation. Its proximity to Duqm Port further strengthens its export competitiveness to key global markets, particularly those relying on inputs such as bromine, caustic soda, and soda ash. The project will utilize sustainable, solar-powered evaporation technology to produce high-purity bromine-rich industrial salt. On the occasion, Al Farooji stated: 'We are pleased to support this partnership, which stands as a practical model for effective public-private collaboration. The Naqa Salt Project will advance the mining sector's alignment with Oman's economic diversification goals by attracting sustainable, clean-energy-driven investments. It also opens new pathways for SMEs to play a vital role in the national value chain. This aligns perfectly with the objectives of the Invest Oman platform, which seeks to attract high-impact investments and build strategic partnerships across value-added sectors - most notably mining, a key pillar of our national economy.' Eng Al Badi said: 'Naqa Salt represents a significant step for Oman's mining sector, establishing the region's largest facility for high-grade industrial salt production. Leveraging Mahout's unique natural sabkha formations, the project embodies a forward-thinking, eco-conscious approach to resource development. It reflects our unwavering commitment to sustainable growth and long-term economic and environmental impact.' 'With a planned investment of OMR13.4 million ($34.83 million), the project aims to produce 2 million tonnes of industrial salt annually. The evaporation ponds will span approximately 109 square kilometers, yielding salt with up to 99% purity—ideal for vital sectors such as chemicals, oil and gas, logistics, food, and pharmaceuticals. The project is targeting diversified international markets including India, Africa, Europe, and Asia.' Jhala commented: 'We are honoured to partner with MDO on this ambitious and strategically important project. Building on Dev Salt's expertise in delivering large-scale salt ventures across India and global markets, we are confident in the project's ability to meet growing demand while supporting industrial resilience and supply chain security in this key sector.' With global demand for industrial salt expected to exceed 372 million tonnes by 2027, the Naqa Salt Project positions Oman as a future-leading producer in the region. Beyond its industrial contributions, the project offers environmental value — its evaporation ponds will create habitats that attract migratory birds and marine life, laying the groundwork for potential eco-tourism development. - TradeArabia News Service
Zawya
04-05-2025
- Business
- Zawya
Naqa Salt is the region's largest industrial salt production project driven by a sustainable vision
Muscat – Reinforcing its commitment to unlocking the full potential of Oman's natural resources, Minerals Development Oman (MDO) has signed a strategic partnership agreement with Dev Salt to launch the Naqa Salt Project in Wilayat Mahout - set to become the largest industrial salt production initiative in the region. The agreement was signed by Eng. Mattar bin Salim Al Badi, CEO of MDO, and Mr. Hirendrasingh Jhala, Chairman of Dev Global, in the presence of H.E. Ibtisam Ahmed Said Al Farooji, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion. The signing took place in collaboration with the Invest in Oman platform. Strategically located in Mahout, Al Wusta Governorate - within MDO's 51K concession area along the Arabian Sea—the project capitalizes on ideal conditions for solar evaporation. Its proximity to Duqm Port further strengthens its export competitiveness to key global markets, particularly those relying on inputs such as bromine, caustic soda, and soda ash. The project will utilize sustainable, solar-powered evaporation technology to produce high-purity bromine-rich industrial salt. Speaking on the occasion, H.E. Ibtisam Al Farooji stated: 'We are pleased to support this partnership, which stands as a practical model for effective public-private collaboration. The Naqa Salt Project will advance the mining sector's alignment with Oman's economic diversification goals by attracting sustainable, clean-energy-driven investments. It also opens new pathways for SMEs to play a vital role in the national value chain. This aligns perfectly with the objectives of the Invest Oman platform, which seeks to attract high-impact investments and build strategic partnerships across value-added sectors - most notably mining, a key pillar of our national economy.' Eng. Mattar Al Badi, CEO of MDO, added: 'Naqa Salt represents a significant step for Oman's mining sector, establishing the region's largest facility for high-grade industrial salt production. Leveraging Mahout's unique natural sabkha formations, the project embodies a forward-thinking, eco-conscious approach to resource development. It reflects our unwavering commitment to sustainable growth and long-term economic and environmental impact.' 'With a planned investment of OMR 13.4 million, the project aims to produce 2 million tonnes of industrial salt annually. The evaporation ponds will span approximately 109 square kilometers, yielding salt with up to 99% purity—ideal for vital sectors such as chemicals, oil and gas, logistics, food, and pharmaceuticals. The project is targeting diversified international markets including India, Africa, Europe, and Asia.' Mr. Hirendrasingh Jhala, Chairman of Dev Global, commented: 'We are honored to partner with MDO on this ambitious and strategically important project. Building on Dev Salt's expertise in delivering large-scale salt ventures across India and global markets, we are confident in the project's ability to meet growing demand while supporting industrial resilience and supply chain security in this key sector.' With global demand for industrial salt expected to exceed 372 million tonnes by 2027, the Naqa Salt Project positions Oman as a future-leading producer in the region. Beyond its industrial contributions, the project offers environmental value—its evaporation ponds will create habitats that attract migratory birds and marine life, laying the groundwork for potential eco-tourism development. More than just an industrial venture, Naqa Salt is a strategic embodiment of Oman's vision for sustainable industrial advancement. It reinforces public-private integration, empowers local talent, and creates tangible opportunities for Omani SMEs in supply, maintenance, and industrial services. Through this project and others, MDO continues to shape the future of Oman's mining sector, guided by a clear, value-driven strategy to deliver long-term benefits for the national economy.
