A high-level German delegation led by the country's former Chancellor Gerhard Schroder is aiming to tap into the growth potential of Oman's energy, infrastructure, water and transport sectors and set up joint ventures within two years.
Under the leadership of Dr Schroder, who is also the honorary chairman of German Near and Middle East Association (NUMOV), the 14-member business delegation visited Oman for three days from January 15 to discuss and get first-hand information about the investment and joint venture opportunities available in the sultanate.
Comprising of executives from the energy, infrastructure, water, transport and automotive sectors, the delegation includes some of the biggest firms in Germany, such as Wintershall Holding AG, Martin Systems AG, Deugro Group, AZUR Solar GmbH, Helene Rang & Partner, Hochtief Solutions AG and Berlin Airports.
This latest delegation comes hot on the heels of the visit of 70 German investors with Terra Nex and the Middle East Best Select fund, which announced its intention to invest US$2bn to set up a solar energy value chain project in the sultanate.
Speaking to Muscat Daily on Tuesday, Bernd Romanski, chairman of NUMOV and member of the executive board of Hochtief Solutions AG, said that setting up joint ventures with local Omani companies in energy, water and infrastructure sectors is the top priority of German companies.
He said, "We would prefer to set up joint ventures with a long-term perspective in the sultanate.
"German companies are highly interested in infrastructure projects which the government announced in the five year plan, and in railway, ports and the Muscat airport project as well. We had discussions with Omani businessmen and it is possible that in the next 1-2 years there would be some joint ventures."
Romanski added that the business opportunities available in Oman's free zones are quite attractive to German companies.
"German companies are keenly looking at possibilities in Oman's free zones which offer 100 per cent foreign ownership and in the Duqm area as well. The German companies are trying to find the right partners and projects with a long-term perspective," he said.
© Muscat Daily 2012
