BRI: Oman's Madayn, China's Shandong Shanzuo Holding sign MoU

The Public Establishment for Industrial Estates – Madayn has inked a Memorandum of Understanding (MoU) with China's Shandong Shanzuo Holding Group Co. Ltd. to develop and promote strategic cooperation in diverse areas that serve interests of the two sides.

 

Madayn said in a press statement that the MoU was signed remotely by its CEO Hilal bin Hamad Al Hasani and Lillian Shi, CEO of Shandong Shanzuo Holding Group Co., and in the presence of Warda Al Shaqsi, Deputy Head of the Sultanate of Oman’s mission in China.

 

The MoU focuses on mutual promotion to encourage investments in both countries and establish projects that contribute to achieving economic growth. The MoU also aspires to boost cooperation in import and export activities between Oman and China, provide support in carrying out related commercial businesses, as well as ensure provision of administrative and logistical support for the businesses.

 

As per the agreement, Shanzuo Group shall provide Madayn with free of charge display area in the Demonstration Park for the purposes of advertising and promoting Madayn’s investments, office space for Madayn in Hanyu Gold Valley, market consultation services for Madayn in China, encouragement of Chinese companies to invest in Oman. Shanzuo Group will also promote Madayn and its brand to the Chinese companies and market, and recommend expert teams to handle other commercial services that Madayn requires in China.

 

(Writing by N Madhura; Editing by Anoop Menon)