28 October 2009
MUSCAT — Oman has all the ideal characteristics for investment in the country’s tourism sector, said Mohammed Al Tobi, undersecretary Ministry of Tourism.
He was speaking at the Gulf Tourism and Property Investment Forum (GTPIF), being hosted by the Tourism and Real Estate Investment Committee of the Oman Chamber of Commerce and Industry in cooperation with the Federation of GCC Chambers of Commerce, at Al Bustan Palace Hotel yesterday.
Highlighting the importance of tourism for investment, he outlined a strong currency, social stability, investor-friendly laws, smooth functioning of the system and a five-year exemption from taxes as the biggest attractions for those wishing to invest.
Projects underway
He said that in all there are 98 tourism-related projects under construction. “Among them, three big projects are underway. The Wave Muscat is a $1.5 billion project which is expected to be completed in 2013. Jebel Sifah, spanning an area of 16 kilometres, will be completed at a cost of $400 million. Salalah Tourist resort — a $500 million project — will be completed in 2012. Al Madina A’Zarqa is the fastest rising 32-km development project in Al Sawadi, a 30-minute drive from Muscat Airport. Al Madina A’Zarqa will radically expand the facilities,” he said.
Omanisation
Al Tobi said Omanisation and increasing role of the private sector were the focus of Oman’s economic vision for 2006-2010. The sector, he said, employed 13,000 people out of which 7,000 are Omanis. “We are achieving the highest level of Omanisation in this sector and hope to make considerable progress in the future,” he said.
“The role of the private sector is getting bigger with each passing year. Public sector’s role is now confined to facilitation and supervision.”
“The number of hotels increased to 127 in 2008. Many hotels have started operations recently. As a result the number of rooms has also increased to 7,000, which we expect to increase further. Hotel income has increased from RO61 million in 2004 to RO163 million in 2008 by means of direct management of hotel.”
MUSCAT — Oman has all the ideal characteristics for investment in the country’s tourism sector, said Mohammed Al Tobi, undersecretary Ministry of Tourism.
He was speaking at the Gulf Tourism and Property Investment Forum (GTPIF), being hosted by the Tourism and Real Estate Investment Committee of the Oman Chamber of Commerce and Industry in cooperation with the Federation of GCC Chambers of Commerce, at Al Bustan Palace Hotel yesterday.
Highlighting the importance of tourism for investment, he outlined a strong currency, social stability, investor-friendly laws, smooth functioning of the system and a five-year exemption from taxes as the biggest attractions for those wishing to invest.
Projects underway
He said that in all there are 98 tourism-related projects under construction. “Among them, three big projects are underway. The Wave Muscat is a $1.5 billion project which is expected to be completed in 2013. Jebel Sifah, spanning an area of 16 kilometres, will be completed at a cost of $400 million. Salalah Tourist resort — a $500 million project — will be completed in 2012. Al Madina A’Zarqa is the fastest rising 32-km development project in Al Sawadi, a 30-minute drive from Muscat Airport. Al Madina A’Zarqa will radically expand the facilities,” he said.
Omanisation
Al Tobi said Omanisation and increasing role of the private sector were the focus of Oman’s economic vision for 2006-2010. The sector, he said, employed 13,000 people out of which 7,000 are Omanis. “We are achieving the highest level of Omanisation in this sector and hope to make considerable progress in the future,” he said.
“The role of the private sector is getting bigger with each passing year. Public sector’s role is now confined to facilitation and supervision.”
“The number of hotels increased to 127 in 2008. Many hotels have started operations recently. As a result the number of rooms has also increased to 7,000, which we expect to increase further. Hotel income has increased from RO61 million in 2004 to RO163 million in 2008 by means of direct management of hotel.”
By Mrudu Naik
© Times of Oman 2009
