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Muscat – Underlining the importance Oman places on Saudi Arabia as a trade partner, management from Ithraa, the sultanate’s investment promotion and export development agency, travelled to Riyadh this week to meet with leading Saudi businesses operating in manufacturing, healthcare and tourism.
His Highness Sayyid Faisal Al Said, Ithraa’s Director General of Investment Promotion lead a top-flight Omani trade and investment delegation to Riyadh, 12 - 15 December that includes Oman National Investments Development Company - TANMIA; Al Madina Investment; Duqm Special Economic Zone Authority; The Public Establishment for Industrial Estates; and Oman Investment Fund.
“Our visit to Riyadh has been designed specifically to enhance dialogue between Omani public and private sector representatives and their Saudi counterparts, and capitalize on the existing trade and investment ties our two countries enjoy. The Oman – Saudi Investment Meet and the side B2B meetings will cover sectors that include manufacturing, healthcare and tourism,” explained Sayyid Faisal.
Businesses in Oman are expanding at a significant pace, with innovation and new opportunities coming on stream across the sultanate. Manufacturing, tourism, logistics, healthcare, tourism, mining and agriculture and fisheries are all contributing to Oman’s changing business landscape, offering significant opportunities to foreign investors.
Encouraging intra-regional GCC trade and investment is important. The Gulf consumer markets are some of the brightest prospects globally. Populations are young and growing rapidly, GDP per capita levels are high and offer strong growth prospects.
With over 31 million residents, Saudi Arabia is the most populous country in the GCC. According to the UN, that population is likely to increase at an average annual rate of 2.1% reaching 38 million by 2030.
“It’s this growing population, rising disposable income and compelling macroeconomic backdrop that make Saudi Arabia one of the world’s youngest and most attractive markets for Omani products and services,” pointed out the Ithraa Director General.
Promoting Oman across the region and sharing the Government's economic message is central Ithraa’s work. According to Sayyid Faisal, trade missions are invaluable in raising the sultanate’s business profile and attracting foreign investment.
“The four-day visit will give us the perfect opportunity to show our Saudi hosts what the sultanate has to offer. We’ve a strong economy with a wealth of exciting investment opportunities a number of sectors. We’re open for business and the Government is committed to encouraging inward investment and the export of Oman-made goods and services. This is the message we will be delivering to colleagues in Riyadh,” concluded Sayyid Faisal.
© Press Release 2016
