Wednesday 04 / December / 2024
Muscat: The visit by the Oman Chamber of Commerce and Industry delegation to the Republic of Singapore from May 5 to 10 achieved good results as some members inked initial agreements to enter into commercial projects and partnerships with a number of Singaporean companies.
A number of OCCI members confirmed in a statement to the Oman News Agency that the visit gave a hands-on experience of the business environment in Singapore, the laws and procedures related to establishing businesses, and the mechanisms used in supporting small and medium enterprises, in addition to reviewing the commercial and investment opportunities available in various sectors and learning about Singaporean experiences.
Engineer Hussein bin Abdul Hussein, a member of the Board of Directors of the Oman Chamber of Commerce and Industry, said that the visit came within the framework of the chamber’s plan to conduct trade visits to a number of countries, so that the delegations get an opportunity to learn about economic experiences and expertise, pointing out that the Singaporean economy is one of the most important global economies in the world.
For products, it is considered a gateway to the Association of East Asian Countries (ASEAN), which constitutes a great opportunity for the exports of Omani products to Singapore.
He added that a number of members of the delegation agreed during the visit with a number of Singaporean companies to communicate for investments, in addition to informing business owners to share their experiences and expertise that may help them in establishing their commercial projects.
For his part, Kaleem bin Mohammed Al-Yaqoubi, member of the Finance and Insurance Committee at the Oman Chamber of Commerce and Industry, explained that the visit provided the opportunity to explore opportunities and benefit from the Singaporean experience in the fields of renewable energy, facilities management, building construction, and sustainability technologies.
He said that the visit will enhance the confidence of investors on both sides by entering into commercial partnerships that will contribute to strengthening trade relations between the two friendly countries in various sectors.
Khalid bin Abdullah Al Hosani, Chairman of the Board of Directors of Titronic Middle East, described the visit to Singapore as “positive and fruitful,” which gave him the opportunity to learn about the Singaporean experience in the field of developing the business environment and ways to support local companies, especially small and medium enterprises.
He said that the Republic of Singapore imports 90 percent of all products, and this is an indicator that gives the possibility of Omani products entering the Singaporean market, calling for the necessity of entering into commercial partnerships with the Singaporean side and benefiting from their expertise and experience in various fields.
Dr. Amjad bin Amer Al Dhahli, member of the Digital Economy and Artificial Intelligence Committee at the Oman Chamber of Commerce and Industry, said that the delegation achieved great results during its visit to the Republic of Singapore by learning about investment, commercial and innovative experiences in a variety of industrial sectors, digital economy, artificial intelligence, logistics, the small and medium enterprises sector and food security and urban planning.
He added that during the visit, opportunities were identified in industrial innovation and the use of modern technologies in the logistics and agricultural sectors, and emphasis was placed on how to achieve a balance between renewable energy and environmental sustainability using the latest digital technology, in addition to exchanging investment opportunities and expertise between the two countries, especially with regard to exporting Omani products and services produced by the SMEs to Singapore via local partners.
Abdullah bin Mohammed bin Hassan Al Shehhi, CEO and founder of Arkan for Research, Development and Innovation, explained that the visit contributed to learning closely about the Singaporean commercial experience in various economic sectors, especially in the sectors of research, development, innovation and food security, in addition to investment opportunities, trade exchange, research and innovation services.
He stressed that during the visit, the trade delegation held many meetings with officials in government agencies, commercial institutions that support the business sector, and company leaders in the Republic of Singapore, with field visits to a number of institutions such as the Commercial Port, the Entrepreneurship Foundation, the Federation of Chambers and the Federation of Singapore Commerce.
“I noticed that meetings with a number of teams of Singaporean companies gave a lot of information and development ideas that - without a doubt - will reflect positively on stocks and future projects,” Al Shehhi explained.
Mohammed bin Hassan Al-Bahrani, member of the Small and Medium Enterprises Committee at the Oman Chamber of Commerce and Industry, said that the visit focused on Singaporean expertise in the field of entrepreneurship by visiting a number of companies specialised in this field.”
He added: “You will go to Singapore as it is considered one of the most important and largest global diversified companies in the field of industry and logistics, and there are opportunities for business owners from this participation by entering into investment projects for cooperation.”
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