Al Wusta Governorate poised as key investment hub with focus on blue economy

Muscat: Al Wusta Governorate, with its extensive 550 km coastline, abundant natural resources, and moderate climate, is emerging as a prime investment destination for local and international ventures in the oil, tourism, logistics, and fisheries sectors.

To bolster this potential, the Oman Chamber of Commerce and Industry (OCCI) branch in Al Wusta Governorate actively works to create a favourable investment climate, enhance the business environment, and promote the governorate through various programs and initiatives. As part of these efforts, OCCI will organise the fifth Duqm Forum on October 20, 2024, at the Oman Convention and Exhibition Center in Muscat, under the theme "The Blue Economy: The New Destination for Investment."

The forum, held in collaboration with the Ministry of Foreign Affairs and the Public Authority for Economic Zones and Free Zones, will bring together experts, investors, and local and international companies specialising in the blue economy investment sector.

Honourable Dr Salem bin Salim Al Junaibi, a member of the State Council, Chairman of the OCCI in Al Wusta Governorate, and General Supervisor of the Forum, highlighted the Chamber's ongoing efforts to launch initiatives and programs that promote investment in the governorate. He emphasised that these efforts are coordinated with relevant investment authorities in Oman.

Speaking to Oman News Agency, Dr. Al Junaibi stated that the forum would focus on the blue economy, a vital sector within Oman's national economic framework, attracting international experts and investors to discuss three key areas. The first area will cover the pillars and strategies of investment in the blue economy, the second will explore blue investment opportunities in food security, logistics, tourism, and renewable energy in Oman, and the third will address global technologies and experiences that enhance blue economy investments.

Dr Al Junaibi also pointed out that Al Wusta Governorate, with its strategic location along the Arabian Sea and the Indian Ocean and its access to Asian markets, is well-positioned to become a significant maritime trade corridor for international goods and a logistical hub for commercial ship manufacturing and maintenance. Additionally, the governorate's rich fish resources offer promising investment opportunities in the fish processing and petrochemical and refinery sectors. He stressed that Al Wusta Governorate is poised to be a leading destination for blue economy investments, supported by its diverse resources and strategic advantages.