Latest news with #QaisAlYousef
Times of Oman
3 days ago
- General
- Times of Oman
Oman gifts a plaque to WTO commemorating Sayyid Bilarab's visit
Muscat : The Sultanate of Oman presented a commemorative plaque to the World Trade Organisation (WTO) commemorating the visit of His Highness Sayyid Bilarab bin Haitham Al Said to the organisation's headquarters in Geneva on June 21, 2023. This mural is a symbolic gift from His Highness to the organisation, an initiative that embodies the depth of bilateral relations and mutual appreciation between the Sultanate of Oman and the organisation. It highlights three main themes: Historical civilisation, natural diversity, and a bright future, in an artistic representation that reflects Omani values, openness to global issues, and sustainable development. This initiative was supervised by the Ministry of Commerce, Industry, and Investment Promotion, with the participation of the Omani Society for Arts, affiliated with the Ministry of Culture, Sports, and Youth. This initiative reflects institutional cooperation and affirms Oman's active presence in international forums through arts and culture. Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, said: 'This initiative expresses the Sultanate of Oman's appreciation for its constructive relations with the World Trade Organisation and embodies its commitment to promoting cultural communication and dialogue with various countries around the world through art.' He added: 'This initiative comes under the guidance and follow-up of His Highness Sayyid Bilarab bin Haitham Al Said, who attaches special importance to the arts as an effective tool in promoting cultural dialogue and building bridges of communication between the Sultanate of Oman and the world." The minister emphasised that HH Sayyid Bilarab support for this project reflects his belief in the role of culture in consolidating Oman's presence on the international stage and underscores the Sultanate of Oman's commitment to presenting a bright image of its cultural and human heritage. Sayyid Said bin Sultan Al Busaidi, Undersecretary for Culture at the Ministry of Culture, Sports and Youth, said: 'This artistic initiative embodies a civilisational, cultural, and artistic dimension that reflects the Sultanate of Oman's vision of using the arts as a bridge for global dialogue and understanding, and a belief in the importance of culture and the arts as a tool for representing national identity in various forms.' He expressed his pride in presenting the commemorative plaque to the Ministry of Commerce, Industry and Investment Promotion, which is part of the institutional partnership and cooperation supporting the integration of national efforts to represent the Sultanate of Oman in international forums, enhance its national and cultural identity, and disseminate it globally, in line with Oman Vision 2040. He said : "This plaque, which reflects Omani civilization, natural diversity, and a vision for the future, has highlighted the creative energies of young Omani artists and contributed to conveying the message of authentic Omani art to the World Trade Organisation, thereby affirming the role and importance of the arts in building cultural and diplomatic relations." Idris bin Abdulrahman Al Khanjari, Ambassador and Permanent Representative of the Sultanate of Oman to the United Nations and other international organisations in Geneva, explained that this cultural initiative reflects an important cultural and diplomatic dimension in the Sultanate of Oman's relations with the WTO. It also demonstrates the Sultanate's commitment to the approach of human communication through the arts. Al Khanjari expressed his pride that this painting will remain present at the WTO headquarters as a symbol of mutual appreciation and the strong relations between the Sultanate of Oman and the WTO. The Ambassador explained that the painting will be hung in a central hall in the WTO building, called the "Salle des Pas Perdus," which serves as a living museum of pluralism, art, and shared history, with its walls echoing the footsteps of generations of diplomats. It is worth noting that an art competition was organised with the participation of six Omani artists, taking eight months of continuous work under the supervision of a specialised art committee and in coordination with relevant authorities. The painting by Omani artist Salem bin Khamis Al Salami was honoured by His Highness Sayyid Bilarab to represent the Sultanate of Oman and is on permanent display at the World Trade Organization headquarters, as an artistic blend that combines Omani cultural identity with global openness.
Times of Oman
28-05-2025
- Business
- Times of Oman
Iranian President meets Omani, Iranian business people
Muscat: President Dr. Masoud Pezeshkian of the Islamic Republic of Iran, met on Wednesday at Al Alam Palace in Muscat with a number of Omani and Iranian business people to discuss means of enhancing trade and investment relations between the Sultanate of Oman and the Islamic Republic of Iran. This meeting comes as part of the Iranian President's official visit to Oman. President Pezeshkian emphasised the importance of linking economic corridors and ports in both countries to develop economic, trade, and investment relations, aiming to increase trade volume to $30 billion over the next three years. He affirmed that his country is ready to cooperate with Oman in various economic, scientific, and cultural fields, stressing the importance of exchanging views and expertise to strengthen economic ties and engage in joint investment projects across multiple sectors. He also highlighted both sides' efforts to facilitate financial transfers between them. Additionally, he affirmed the Islamic Republic of Iran's commitment to expanding and enhancing security and stability in the region and the world while extending support to all Muslims. On his turn, Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion, explained that under the wise leadership of His Majesty the Sultan, Oman is advancing efforts to boost investments and diversify economic sectors. He expressed hope that the trade delegation would explore investment opportunities in various fields, particularly renewable energy, industry, tourism, mining, logistics, food security, medical and food industries, information technology, and real estate development. He noted that trade between the two countries has grown significantly, with last year alone seeing an increase of over 50%. Iranian investments have also expanded considerably, with the number of Iranian companies in Oman rising by 70% across various sectors. Among these developments, an Iranian bio-pharmaceutical research and development company has opened a factory in Oman, along with a petrochemical manufacturing plant and other projects producing industrial salt, fertilizers, and buses. He also pointed out that the Sarooj Complex is one of Oman's significant investments in Iran. For his part, Faisal bin Abdullah Al Rowas, Chairman of the Board of Directors of Oman Chamber of Commerce and Industry (OCCI), stated that since its establishment, the OCCI has worked to solidify and develop trade relations through various initiatives, including the formation of the Omani-Iranian Joint Business Council. This council aims to activate trade exchanges, facilitate bilateral business meetings, strengthen connections between business leaders in both countries, address challenges faced by traders and investors, and expand partnerships in strategic sectors. He affirmed that the esteemed patronage of this meeting reflects direct support for the private sector and sends a clear message about its vital role in building strong and sustainable economic relations between Oman and Iran. This, he said, motivates the Chamber's officials to intensify efforts to enhance trade opportunities, expand bilateral investments, and open new horizons in promising sectors such as industry, food security, maritime transport, renewable energy, and logistics. He reiterated the OCCI's commitment to providing all means to strengthen partnerships between Omani and Iranian private sectors, increase trade volumes, and encourage mutual investments in line with the economic visions of both countries. Meanwhile, Samad Hassanzadeh, President of Iran Chamber of Commerce, Industries, Mines and Agriculture, stressed the importance of enhancing economic, trade, and investment relations by outlining a roadmap for their development and holding regular meetings. He urged business leaders to leverage the preferential trade agreement signed between Oman and Iran to elevate these relations. Mohammed Abdulhussein Baqer, Omani Co-Chair of the Omani-Iranian Joint Business Council, stated that the Council is implementing several strategic initiatives to boost trade and investment growth between the two countries and remove obstacles to trade. He noted that bilateral trade reached over $2 billion in 2024. Among these initiatives are efforts to establish permanent sea and air shipping routes, set up an exchange company to facilitate financial transfers, and launch an electronic platform to connect investors, exporters, and importers from both countries. Jamal Razeqi Jahromi, Iranian Co-Chair of the Omani-Iranian Joint Business Council, remarked that the $2 billion trade volume in 2024 does not reflect the historical ties between Oman and Iran. He called on business leaders to take advantage of all agreements and memoranda of understanding signed yesterday to increase commercial and investment initiatives.
Trade Arabia
19-05-2025
- Business
- Trade Arabia
Oman's top design, build event to draw over 14,000 visitors
With more than 14,000 visitors expected and over 130 leading exhibitors showcasing the latest in construction, design, and real estate innovation, both key events - Oman Design & Build Week (ODBW) and Oman Real Estate Expo (Orex) are entering their final days (May 19 to 21). Held under the patronage of Sayyid Bilarab bin Haitham Al Said, who officially opened the Real Estate Conference and Qais bin Mohammed Al Yousef, Minister of Commerce, Industry & Investment Promotion, who served as Chief Guest at the opening ceremony for ODBW, the event brings together industry leaders, government stakeholders, and innovators from across the Sultanate and beyond. Co-organised with the Ministry of Commerce, Industry and Investment Promotion and the Ministry of Housing & Urban Planning, this comprehensive platform includes the Oman Design & Build Expo, Oman Real Estate Expo, the Real Estate Conference, and the ODBW Symposium, delivered in collaboration with the Project Management Institute. Throughout Oman Design & Build Expo, visitors can explore an extensive range of solutions - from advanced building materials and construction technologies to architectural services and sustainable design. The event also offers an excellent opportunity to connect with key players in the market, grow professional networks, and build partnerships that could shape future developments, said the event organisers. One of the major draws this year is the preview of future real estate and infrastructure projects set to redefine Oman's urban landscape. Visitors to Orex 2025 can gain exclusive insights into transformative developments such as Sultan Haitham City, the Muscat and Nizwa Structure Plans, Integrated Residential Neighbourhoods, A'Thuraya City, the Oman Mountain Destination, and major upcoming city plans in Al Khuwair, Salalah, and Sohar, they stated. Exciting competitions will also be held by exhibitors - stand a chance to Own Your Dream Home and win valuable prizes from the developers of Sultan Haitham City and Sorouh projects. Attendees will also get to benefit from free knowledge sessions at the Real Estate Conference organised by the Ministry of Housing & Urban Planning, offering practical insights and thought leadership from top experts across the design, construction, and real estate sectors. These sessions are designed to empower local professionals with global best practices, while keeping them informed of the latest trends and regulatory updates, as well as exclusive insights into Oman's upcoming developments, they added. Meanwhile, the ODBW Symposium will discuss a range of topics including ways to manage complexity in large-scale construction projects, strategic planning in project delivery, interface management in the built environment, and the growing role of artificial intelligence and technology in construction and design. It also puts a strong spotlight on sustainability, innovation, and success strategies tailored to the Mena region.
Zawya
19-05-2025
- Business
- Zawya
Final days to explore Oman's largest design, build & real estate event
Muscat, Oman – With more than 14,000 visitors expected and over 130 leading exhibitors showcasing the latest in construction, design, and real estate innovation, Oman Design & Build Week (ODBW) and Oman Real Estate Expo (OREX) are entering their final days (19 - 21 May 2025). There's still time to be part of this dynamic, high-impact event - a must-attend for professionals shaping the future of Oman's built environment - open from 10am - 8pm daily at Oman Convention & Exhibition Centre. Held under the patronage of His Highness Sayyid Bilarab bin Haitham Al Said, who officially opened the Real Estate Conference and H.E. Qais bin Mohammed Al Yousef, Minister of Commerce, Industry & Investment Promotion, who served as Chief Guest at the opening ceremony for ODBW, the event brings together industry leaders, government stakeholders, and innovators from across the Sultanate and beyond. Co-organised with the Ministry of Commerce, Industry and Investment Promotion and the Ministry of Housing & Urban Planning, this comprehensive platform includes the Oman Design & Build Expo, Oman Real Estate Expo, the Real Estate Conference, and the ODBW Symposium, delivered in collaboration with the Project Management Institute. This year's milestone 20th edition is proudly supported by a strong line-up of partners and sponsors. The event is held in partnership with ORA, powered by Sadolin Dulux, Lead Sponsor Wuhja, with Dubizzle as Platinum Sponsor. Gold Sponsors include Majd, Stay Development, and Dar Sidara Company, while Al Khalil Group joins as Category Sponsor. Silver Sponsors are DMC, Emaar Industries, and GF Corys, with support from Muscat Municipality. Their backing highlights the industry's collective commitment to advancing Oman's design, construction, and real estate sectors. Throughout Oman Design & Build Expo, visitors can explore an extensive range of solutions — from advanced building materials and construction technologies to architectural services and sustainable design. The event also offers an excellent opportunity to connect with key players in the market, grow professional networks, and build partnerships that could shape future developments. One of the major draws this year is the preview of future real estate and infrastructure projects set to redefine Oman's urban landscape. Visitors to OREX 2025 can gain exclusive insights into transformative developments such as Sultan Haitham City, the Muscat and Nizwa Structure Plans, Integrated Residential Neighbourhoods, A'Thuraya City, the Oman Mountain Destination, and major upcoming city plans in Al Khuwair, Salalah, and Sohar. Exciting competitions will also be held by exhibitors — stand a chance to Own Your Dream Home and win valuable prizes from the developers of Sultan Haitham City and Sorouh projects. Attendees can also benefit from free knowledge sessions at the Real Estate Conference organised by the Ministry of Housing & Urban Planning, offering practical insights and thought leadership from top experts across the design, construction, and real estate sectors. These sessions are designed to empower local professionals with global best practices, while keeping them informed of the latest trends and regulatory updates, as well as exclusive insights into Oman's upcoming developments. Meanwhile, the ODBW Symposium brought to you by The Project Management Institute offers another free-to-attend compelling programme for professionals in project management and construction. Topics explored include managing complexity in large-scale construction projects, strategic planning in project delivery, interface management in the built environment, and the growing role of artificial intelligence and technology in construction and design. The symposium also puts a strong spotlight on sustainability, innovation, and success strategies tailored to the MENA region. Industry professionals can also take advantage of exclusive masterclasses delivered by Raphael Ani and Red Learning, providing PMI-certified training and real-world tools to enhance project success. With just a few days left, now is the time to join thousands of your peers in discovering the future of Oman's construction and real estate sectors. Entry is free. Registration is available online and at the event. For more details, visit
Arab News
18-05-2025
- Business
- Arab News
Omani banking sector credit surges 7.4% in February
RIYADH: The total credit extended by Oman's banking sector surged by 7.4 percent year on year to reach 32.9 billion Omani rials ($85.46 billion) by the end of February, new figures showed. Released by the Central Bank of Oman, the data indicated that credit extended to the private sector rose by 6.1 percent annually to 27.3 billion rials during the same period. This aligns with Oman's projected economic growth of 3.4 percent in 2025, outpacing many global peers, according to Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al-Yousef, who spoke at the International Investment Forum in Muscat in April. The February report said: 'Non-financial corporations received the highest share of the total private sector credit at approximately 46.3 percent at end-February 2025, followed by the household sector at 44.3 percent.' It added: 'The share of financial corporations was 5.5 percent while other sectors received the remaining 3.8 percent of total private sector credit as at the end of February 2025.' The analysis further revealed that total deposits in the Omani banking sector registered a 6.4 percent year-on-year growth to reach 32 billion rials at the end of February. It added that total private sector deposits increased 8.2 percent to 21 billion rials. 'In terms of sector-wise composition of private sector deposits, the biggest contribution is from household deposits at 50.3 percent, followed by non-financial corporations at 30.4 percent, financial corporations at 16.9 percent and other sectors at 2.4 percent,' the report concluded in that regard. In January, the 2024 Article IV consultation issued by the International Monetary Fund disclosed that Oman achieved a 6.2 percent budget surplus and a 2.4 percent current account gain in 2024, driven by prudent fiscal policies, high oil prices, and nonhydrocarbon export growth. At the time, the IMF attributed these figures to effective economic management. Despite higher social spending under a new protection law, the nonhydrocarbon primary deficit as a share of nonhydrocarbon gross domestic product remained stable, highlighting the government's commitment to financial discipline, the IMF release explained at the time. Government debt as a percentage of gross domestic product also declined further, reaching 35 percent in 2024, marking continued improvement in Oman's economic fundamentals. The findings reflect the broader resilience across the Gulf Cooperation Council region, as highlighted in a December IMF report, which noted that GCC economies have successfully navigated recent shocks, thanks to robust non-hydrocarbon growth and continued reform efforts.
