21 May 2013
Muscat: Oman-Singapore investments amount to $320 billion so far, Singapore's Minister for Foreign Affairs and Minister for Law, K. Shanmugam, has told Times of Oman in an interview.
The OMR385 million Mirbat's Station for Independent Water and Power Plant (IWPP) was inaugurated in the Dhofar governorate yesterday. Located in Salalah, the $1.4 billion IWPP is a joint venture between Sembcorp Utilities, the Oman Investment Corporation, and Instrata Capital, with Sembcorp owning 60 per cent of the joint venture.
"Such projects will provide thousands of jobs for Omanis and be a centre for trade and investments for all the parts of the world, particularly the GCC region and Africa,"
Shanmugam said.
"The major independent water and power project, which costs more than $1 billion, is going to create many jobs for Omanis and will provide uninterrupted water and electricity supply in the Dhofar governorate with high facilities," said Shanmugam.
Meanwhile, Takamul Investment Company SAOC (Takamul) is entering into a joint-venture agreement with the utilities arm of Sembcorp Industries of Singapore to establish the Centralised Utilities Company (CUC), which will provide a range of utilities to the industrial area of the Special Economic Zone at Duqm (SEZAD).
About the bilateral ties between the Sultanate and Singapore, Shanmugam, pointed out that the two countries enjoy very good ties through active bilateral consultation and business council.
Jewel of Muscat
Jewel of Muscat is a symbol of the long-standing bilateral trade relations between the two countries, and many tourists visit the Jewel of Muscat in Singapore National Museum.
"Visitors come to see the Jewel of Muscat and learn more about Oman, which encourages them to visit Oman," said Shanmugam.
Speaking about Singapore joining the Arctic Council as a permanent observer, Shanmugam said that the Arctic Council recently agreed to let Singapore, China, India, Italy, Japan, and South Korea join as observers to learn how to prevent and deal with oil spills in the region, as the ice makes way for the establishment of more shipping and mining companies.
Shanmugam stressed that the Arctic Council chose Singapore as a permanent observer because Singapore has a high degree of technical capability and has conducted plenty of research on the Arctic region.
"We persuaded the members of the Arctic Council that we could contribute positively, and they agreed to let us join the council," Shanmugam told Times of Oman. Singapore's private sector companies hope to have more investments in the Sultanate, which provides a fertile investment environment because of its economic stability and tourism potential.
Omani companies too are invited to invest in Singapore and use it as a base for investment to take advantage of Asia's booming business scene. Shanmugam was on an official visit to Oman, where he met Yousuf bin Alawi bin Abdullah, Minister Responsible for Foreign Affairs, and Sayyid Badr bin Hamood Al Busaidi, secretary general of the Ministry of Foreign Affairs.
Muscat: Oman-Singapore investments amount to $320 billion so far, Singapore's Minister for Foreign Affairs and Minister for Law, K. Shanmugam, has told Times of Oman in an interview.
The OMR385 million Mirbat's Station for Independent Water and Power Plant (IWPP) was inaugurated in the Dhofar governorate yesterday. Located in Salalah, the $1.4 billion IWPP is a joint venture between Sembcorp Utilities, the Oman Investment Corporation, and Instrata Capital, with Sembcorp owning 60 per cent of the joint venture.
"Such projects will provide thousands of jobs for Omanis and be a centre for trade and investments for all the parts of the world, particularly the GCC region and Africa,"
Shanmugam said.
"The major independent water and power project, which costs more than $1 billion, is going to create many jobs for Omanis and will provide uninterrupted water and electricity supply in the Dhofar governorate with high facilities," said Shanmugam.
Meanwhile, Takamul Investment Company SAOC (Takamul) is entering into a joint-venture agreement with the utilities arm of Sembcorp Industries of Singapore to establish the Centralised Utilities Company (CUC), which will provide a range of utilities to the industrial area of the Special Economic Zone at Duqm (SEZAD).
About the bilateral ties between the Sultanate and Singapore, Shanmugam, pointed out that the two countries enjoy very good ties through active bilateral consultation and business council.
Jewel of Muscat
Jewel of Muscat is a symbol of the long-standing bilateral trade relations between the two countries, and many tourists visit the Jewel of Muscat in Singapore National Museum.
"Visitors come to see the Jewel of Muscat and learn more about Oman, which encourages them to visit Oman," said Shanmugam.
Speaking about Singapore joining the Arctic Council as a permanent observer, Shanmugam said that the Arctic Council recently agreed to let Singapore, China, India, Italy, Japan, and South Korea join as observers to learn how to prevent and deal with oil spills in the region, as the ice makes way for the establishment of more shipping and mining companies.
Shanmugam stressed that the Arctic Council chose Singapore as a permanent observer because Singapore has a high degree of technical capability and has conducted plenty of research on the Arctic region.
"We persuaded the members of the Arctic Council that we could contribute positively, and they agreed to let us join the council," Shanmugam told Times of Oman. Singapore's private sector companies hope to have more investments in the Sultanate, which provides a fertile investment environment because of its economic stability and tourism potential.
Omani companies too are invited to invest in Singapore and use it as a base for investment to take advantage of Asia's booming business scene. Shanmugam was on an official visit to Oman, where he met Yousuf bin Alawi bin Abdullah, Minister Responsible for Foreign Affairs, and Sayyid Badr bin Hamood Al Busaidi, secretary general of the Ministry of Foreign Affairs.
© Times of Oman 2013
