24 March 2016
The Public Authority for Investment Promotion and Export Development (Ithraa) has prioritized 10 economic sectors for investment over the next five years. Sayyid Faisal bin Turki al Said, Director General of Marketing and Media at Ithraa, listed the 10 sectors as follows: Education, Healthcare, Tourism, Fisheries, Logistics, Food Processing, Chemicals Industries, Minerals, Metals, Machinery Manufacturing and Waste Management.
Speaking at the Oman Economic Forum, which concluded at Shangri-La's Barr Al Jissah Resort & Spa yesterday, Sayyid Faisal said the prioritized segments are at the heart of a comprehensive strategy for investment promotion that was formulated with the support of a prominent international consultancy firm. Each of these sectors will be targeted at specific international markets under an action plan chalked out as part of the strategy, he said, adding that Ithraa continues to work closely with its strategic partners, notably the Ministry of Commerce and Industry, with its 'InvestEasy' portal, and the State General Reserve Fund (SGRF).
Also as part of its ongoing efforts to promote Omani products abroad, as well as attract investment inflows into the Sultanate, Ithraa has appointed 24 commercial representatives in key world markets. The Authority has also hosted prospective international investors and arranged bilateral meetings with interested Omani partners. Countries around the world, he said, are eager to cut taxes and implement policies that are investor-friendly.
They have also created professional associations and business incubators to enhance economic growth, attract new talent, promote technology transfer and generate job opportunities. For its part, the Sultanate is focused on education, training and infrastructure development as imperatives in attracting investments. Referring to the oil price slump and its implications for the oil-exporting economies like Oman, he said the downturn was an opportunity to explore non-oil alternatives.
Mohammed Reza Nematazadaeh, Iranian Minister of Industry, Mines and Trade, said in his presentation that the Sultanate and Iran have many things in common and need to develop joint infrastructure especially in the field of ports. Both sides also need to develop banking relations, laws and regulations as the two countries have many investment opportunities. He stressed his country's desire to attract investors to Iran. The two-day Oman Economic Forum opened on Wednesday under the theme, 'Oman: A Bridge between Asia and GCC'.
The Public Authority for Investment Promotion and Export Development (Ithraa) has prioritized 10 economic sectors for investment over the next five years. Sayyid Faisal bin Turki al Said, Director General of Marketing and Media at Ithraa, listed the 10 sectors as follows: Education, Healthcare, Tourism, Fisheries, Logistics, Food Processing, Chemicals Industries, Minerals, Metals, Machinery Manufacturing and Waste Management.
Speaking at the Oman Economic Forum, which concluded at Shangri-La's Barr Al Jissah Resort & Spa yesterday, Sayyid Faisal said the prioritized segments are at the heart of a comprehensive strategy for investment promotion that was formulated with the support of a prominent international consultancy firm. Each of these sectors will be targeted at specific international markets under an action plan chalked out as part of the strategy, he said, adding that Ithraa continues to work closely with its strategic partners, notably the Ministry of Commerce and Industry, with its 'InvestEasy' portal, and the State General Reserve Fund (SGRF).
Also as part of its ongoing efforts to promote Omani products abroad, as well as attract investment inflows into the Sultanate, Ithraa has appointed 24 commercial representatives in key world markets. The Authority has also hosted prospective international investors and arranged bilateral meetings with interested Omani partners. Countries around the world, he said, are eager to cut taxes and implement policies that are investor-friendly.
They have also created professional associations and business incubators to enhance economic growth, attract new talent, promote technology transfer and generate job opportunities. For its part, the Sultanate is focused on education, training and infrastructure development as imperatives in attracting investments. Referring to the oil price slump and its implications for the oil-exporting economies like Oman, he said the downturn was an opportunity to explore non-oil alternatives.
Mohammed Reza Nematazadaeh, Iranian Minister of Industry, Mines and Trade, said in his presentation that the Sultanate and Iran have many things in common and need to develop joint infrastructure especially in the field of ports. Both sides also need to develop banking relations, laws and regulations as the two countries have many investment opportunities. He stressed his country's desire to attract investors to Iran. The two-day Oman Economic Forum opened on Wednesday under the theme, 'Oman: A Bridge between Asia and GCC'.
© Oman Daily Observer 2016
