Wednesday 30 / October / 2024
Muscat: The Sultanate of Oman, represented by the Ministry of Trade, Industry and Investment Promotion and the Oman Chamber of Commerce and Industry, and in partnership with several public and private sector institutions, during its participation in the “St. Petersburg International Economic Forum” in its 27th edition as a guest of honour, reviewed the integrated business environment and investment opportunities in the Sultanate of Oman in Priority sectors.
The Sultanate of Oman also participated in the exhibition accompanying the forum to open new markets for Omani exports and strengthen economic and trade relations between the Sultanate of Oman and various countries of the world.
His Excellency Qais bin Muhammad Al-Yousef, Minister of Trade, Industry and Investment Promotion, who headed the Sultanate of Oman’s delegation to the forum, stressed the keenness of the Omani side, represented by government agencies and the private sector, to discuss all areas of economic cooperation and open broader areas for trade and investment, indicating the serious desire to benefit from this participation. To the Sultanate of Oman as a guest of honour at the invitation of the Russian side to achieve strategic economic aspirations at various levels, contribute to the development of commercial activity in many activities and sectors, and focus on the Sultanate of Oman’s unique competitive advantages that make it a unique destination for trade and investment.
For his part, His Excellency Hamoud bin Salem Al Tuwaih, Ambassador of the Sultanate of Oman to the Federal Republic of Russia, said that the SultanatExplaining that the chamber focused during this participation on the private sector in the Sultanate of Oman and the promising opportunities it abounds, enhanced by incentives and initiatives and that there are opportunities for cooperation with the Russian side in many sectors, including the food security, technology and petrochemical sector, while looking to the Russian market in the tourism sector.
On the sidelines of the forum’s activities, the Omani-Russian Forum was organised to promote the investment and commercial environment in the Sultanate of Oman and hold direct bilateral meetings between Omani companies and their Russian counterparts.
On the sidelines of participating in the forum, one of the Omani companies signed a memorandum of understanding to enhance cooperation in the legal field and support legal practices to serve and support Omani and Russian companies, while an Omani company specialised in the field of information security signed a memorandum of understanding with a Russian company to build joint capabilities in the field of cybersecurity and raise the efficiency of local cadres in this field.
The Sultanate of Oman’s participation in the forum provided the opportunity for a number of representatives of government agencies to participate in discussion panels and dialogue sessions in the sectors held on the sidelines of its work, including a dialogue session on the importance of the financial sector in supporting strategic partnerships, a session on the logistics sector and enhancing roads and commercial corridors, and a dialogue session to discuss the importance of sustainable city development.
In conjunction with this participation, the National Museum, in partnership with the Russian State Hermitage Museum, organized an Omani evening in the context of the “Oman Hall” initiative to introduce the Sultanate of Oman’s ancient history and common ties with the Federal Republic of Russia.
