Latest news with #OmaniBritishSociety
Muscat Daily
5 days ago
- Business
- Muscat Daily
Omani British Society hosts workshop on advancing sultanate's food security
Muscat – The Omani British Society hosted a workshop on Wednesday titled 'Harvesting Oman's Resilience: Advancing Food Security Through Innovation'. The event brought together a diverse group of experts from Oman and the UK – including government officials, agri-tech pioneers, policy strategists, and business leaders – to explore innovative solutions to the sultanate's food security challenges. Saleh Zakwani, Chairman of the Omani British Society, stated that the workshop reflects the Omani British Society's commitment to facilitating dialogue on issues of strategic national importance. 'Food security is a key component of Oman's long-term vision, with a clear goal of increasing self-sufficiency and building a resilient, sustainable food system. By bringing together experts, policymakers, and industry leaders, we aim to support the national agenda through collaboration and knowledge exchange. We are proud to serve as a platform for these vital conversations that shape Oman's future.' In addition to individual presentations, the workshop featured a dynamic panel discussion with five distinguished participants. The panel comprised Andrea Di Lello, Senior Director, Alvarez & Marsal; Eng Asma al Hinai, Manager of the Oman Vision 2040 Office at the Ministry of Agriculture, Fisheries and Water Resources; Edward Gilbert, Regional Agriculture and Food Counsellor for the Gulf, British Embassy Riyadh; Sameer Ul Haque, Chief Investment Officer, Tawoos Group; and Shepard (Colie) Spink, Managing Director, Alvarez & Marsal. The engaging panel discussion was moderated by Jesal Asher Rajda, Executive Director, Al Ansari Group. Panellists shared insights into the complex challenges facing Oman's food systems – from water scarcity to supply chain optimisation and investment in agri-tech. Eng Asma al Hinai shared updates on the government's ongoing efforts and strategic initiatives to strengthen national food security, attract investment, and increase self-sufficiency in key food commodities. She noted that, as part of its Vision 2040 objectives, the Ministry of Agriculture, Fisheries and Water Resources adopted Food Security Labs as a core mechanism to implement its five-year plan. 'The outcome of the first phase, launched in 2021, has already resulted in over 340 investment projects across the agriculture, fisheries, and water resources sectors. We are currently preparing for the final session of the Food Security Lab in October this year to conclude the first phase.' These Food Security Labs, she said, are aligned with the pillars of Oman Vision 2040. More than 40 enabling initiatives have also been launched to support long-term sustainability and investor confidence in the agriculture sector. Eng Asma also highlighted the ministry's support for entrepreneurs and investors through a range of incentive packages. She emphasised Oman's strategic focus on increasing production of food commodities where self-sufficiency is currently below 75%. 'We have established a National Food Basket that includes 25 commodities across eight food crop categories. These strategic crops are the focus of a national plan to raise sufficiency levels to at least 75% by 2028.' 'To guide these efforts, we developed a comprehensive investment map, which analyses crop composition, soil texture, and groundwater availability across Oman's governorates. This will help optimise agricultural production based on regional strengths.' Looking beyond primary production, Eng Asma said that the ministry is also working to enhance value-added processing capabilities for various food commodities. Success stories include Oman's growing industries in date processing, fish canning, and dairy by-products – many of which have already surpassed 75% self-sufficiency due to domestic value addition. Haifa al Khaifi, General Secretary of the Omani British Society, expressed deep appreciation for the insightful dialogue held during the workshop. She said, 'Under the esteemed leadership of His Majesty Sultan Haitham bin Tarik, Oman has charted a clear path towards sustainable agricultural development. Convening experts from both Oman and the UK – from government officials to agri-tech pioneers – demonstrated the power of collaboration, innovation, and strategic investment in bolstering national food security.' She acknowledged the critical role of public–private partnerships, the water–energy–food nexus, and coordinated supply–demand planning, and extended gratitude to all speakers, partners, and attendees for their valuable contributions.
Muscat Daily
25-05-2025
- Business
- Muscat Daily
Omani British Society hosts forum to explore shifting global finance order
Muscat – The Omani British Society (OBS) organised a high-level forum on 'The Great Financial Reset' on Saturday at the Hormuz Grand Hotel in Muscat, bringing together CEOs, senior finance leaders, and policymakers from across Oman's public and private sectors. The event – which was held under the distinguished patronage of H E Dr Lianne Saunders, the UK's Ambassador to Oman – served as a dynamic platform for exploring global financial shifts and their implications for Oman. The forum's keynote speaker, Hamid Hamirani, Managing Director of BSG International and former advisor of Oman's Ministry of Finance, delivered an engaging presentation titled 'The Great Financial Reset: Trump – Another Disrupter', in which he provided valuable strategic insights into the evolving global financial order, Oman's role in a tech-driven economy, and how smart technologies can enhance efficiency, reduce costs, and lower emissions. Saleh Zakwani, Chairman of the Omani British Society, said, 'Hosting a forum on 'The Great Financial Reset' reflects the Society's commitment to addressing globally significant issues that carry tangible implications for Oman's economic outlook. In the face of a new world order, fostering dialogue on such topics is essential – not only to raise awareness but also to identify opportunities that can benefit Oman.' 'We are also witnessing growing interest in the work of the Omani British Society, and we encourage more investors, business leaders, academics, and students to become members,' he added. Commenting on the forum, Haifa al Khaifi, General Secretary of the Omani British Society, emphasised the importance of strategic foresight in an increasingly volatile global environment. 'The forum's discourse underscored that seismic global developments – from the accelerating de-dollarisation trend, to intensifying strategic competition between the United States and China – demand proactive adaptation,' she said. 'Oman's long-standing neutrality places us in a unique position to diversify our reserve portfolio, modernise trade frameworks, and fast-track renewable energy investments, thereby strengthening our economic resilience for decades to come.' Commenting on the significance of the forum's high-level participation, Haifa said, 'The presence of H E Dr Lianne Saunders, H E Maqbool Sultan, alongside senior CEOs and financial leaders, reflects a shared commitment across Oman's public and private sectors.' She further said that, under the wise leadership of His Majesty Sultan Haitham bin Tarik, Oman's Vision 2040 is more than a roadmap – it is a national imperative for sustainable growth. 'The Omani British Society remains steadfast in convening these crucial dialogues to ensure that Oman not only navigates global changes, but plays an active role in shaping them,' she added. In light of a shifting geopolitical landscape, surging gold prices, and global trade disruptions triggered by tariffs war, Hamid Hamirani's presentation stressed the importance of rethinking Oman's financial reserves strategy and adopting a more proactive stance in response to the evolving global financial landscape. Hamirani pointed to a global trend away from traditional investments in US Treasuries, noting that major economies such as China are moving towards real assets. He emphasised that Oman, with its currency pegged to the US dollar, must stay ahead of these developments. One key issue he identified was Oman's relatively small allocation to gold within its foreign reserve portfolio. 'We need to consider rebalancing sovereign wealth portfolios to reflect the new monetary and commodity dynamics. Oman should consider increasing its gold reserves to diversify reserves portfolio. Only 3.7% of Oman's reserves are held in gold, which is significantly low. Increasing gold reserves would serve as a hedge against inflation,' he said. Hamirani also outlined the strategic value of investing in commodities as a means of shielding Oman's economy from inflationary pressures. He explained that rising global inflation often forces governments to dip into fiscal reserves to subsidise essential imports such as food. 'Due to the currency peg, Oman imports inflation. When inflation rises, we find ourselves using fiscal reserves to subsidise the cost of food and other essentials. By proactively investing in commodities, Oman could not only realise returns during times of high prices but also create a buffer to mitigate inflation. When you invest in gold and commodities and prices rise, your returns increase – and these can be used to support subsidies against imported inflation,' he said. Hamirani's presentation was followed by a lively Q&A session, moderated by Haifa al Khaifi, featuring questions from the moderator and the audience.
