Thursday 26 / December / 2024
Mumbai: HE Qais Mohammed Al Yousef, Oman’s Minister of Commerce, Industry, and Investment Promotion, has invited Indian business houses to come and invest in the Sultanate as it offers a wealth of opportunities to foreign investors.
“From mining to engineering to heavy industry, Oman has opened its doors for business houses,” Oman’s Minister of Commerce said at an event in Mumbai, in which several key members of the Federation of Indian Chambers of Commerce Industry (FICCI) in Mumbai participated.
Oman’s high-powered delegation was led by the Minister of Commerce and Pankaj Khimji, advisor for foreign trade and international cooperation with the Ministry of Commerce, Industry, and Investment Promotion, along with senior officials from the ministry of culture and Oman’s ambassador to India.
“Situated just across the Arabian sea, Oman and India enjoy historic relationships dating back to thousands of years ago. We have good and trusted ties with FICCI, CII, and WIPO. India is so important to Oman that after His Majesty Sultan Haitham bin Tarik came to power, India was the first non-Arab country to which His Majesty chose to visit. There is a natural love among the Omani and Indian people for each other,” the Minister said.
“Earlier an investor had to go through five to six stages with their investment plans, but now that has been simplified to one group for their benefit. We are here to take this relationship from regular business to a comprehensive economic partnership,” the Minister added.
Ahmed Al Mamari from Invest Oman said people these days don’t want to visit crowded cities; they love peace and tranquillity, and Oman is the best choice for them.
Deepak Bagla, Adviser to the ministry, said that the Indian Film industry has a global audience; therefore, showcasing stunning Omani landscapes in movies will have great appeal to global audiences.
The Minister said that Pankaj Khimji, Foreign Trade and International Cooperation Adviser, Ministry of Commerce, Oman, is looking after our newly created Centre for International Strategic Partnership and Foreign Trade to ease the process of investments and remove the bottlenecks, if any.
The long-standing relation between India and Oman during the reign of the late Sultan Qaboos bin Said al Said is very well known, the Minister said, adding that “instead of inviting investors to Oman, we are moving to them with open arms to invest in our country.”
“Oman and India trade relations date back to over 5,000 years,” said Pankaj Khimji, adding that “artefacts throw light on sea trade between Qalhat and Dwarka. Even the national Museum of Oman has many artefacts showing close and historic ties between the two countries,” he said.
He said that when His Majesty Sultan Haitham bin Tarik met with Indian Prime Minister Narendra Modi, they discussed cricket, and the Indian Prime Minister presented His Majesty with a cricket bat with the signatures of Indian players.
“Oman has a comparative advantage in five sectors that include tourism, weddings, logistics, road network connectivity, manufacturing, and food security. Oman is rich in copper, dolomite, marble, and limestone,” said the minister.
“These meetings are a precursor to the signing of the final CEPA agreement. We are going to have one-to-one meetings rather than a general council meeting to fine-tune the details,” said the minister.
He was all praise for the Indian Ambassador to Oman, Amit Narang, who made possible the meeting with the Federation of Indian Chambers of Commerce & Industry (FICCI) .
Dr. Yousef Hamed Al Balushi, Advisor at the Ministry of Commerce, Industry, and Investment Promotion, highlighted the strategic advantages Oman offers to Indian investors, emphasising its role as a gateway to the Gulf Cooperation Council (GCC) and African markets. He also drew attention to the burgeoning special economic zones in Duqm, Salalah, and Sohar Freezone, showcasing them as prime investment destinations.
Other members of the Omani team spearheading the meeting were Aziz Salim Al Hadhrami, Section head, Commercial relations, Ministry of Commerce Industry and Investment Promotion; Abdullah Al Rawahi, Section head, Industry Analysis and Evaluation, Ministry of Commerce Industry and Investment Promotion; Ahmed Al Maamari, Investment Analysis, Ministry of Commerce Industry and Investment Promotion; Ms. Mariya Al Hashar, Tourism sector Lead, Oman National Programme for Private Sector and Foreign Trade (Nazdaher); Ms. Maryam Nasser Al Kharbooshi, Ministry of Culture, Sports and Youth.
Prominent among those who participated in the meeting were Deepak Mukhi, Director, Maharashtra State Council, FICCI, Srikant Badve, managing director, Belrise Industries, Dinesh N Joshi, Chairman and Managing Director, Satyagiri Group and co-chair of FICCI Maharashtra, Gaanesh Srinivasan, President T&D, KEC, Hrishikesh Kamat, Chief Procurement Officer, Arcelor Mittal Nippon Steel India, Bobby Pauly, Managing Partner and CEO, One Planet Partners Private Limited, Summet Kabra, Director, RR Global, Anuj Sharma, CEO- Hydrogen Business, Waaree Energy, Gaurav Shekhri, Director, Tinna Group, Rajiv Podar, Managing Director, Podar Enterprises.
