Tuesday 04 / February / 2025
Muscat: Development Bank will support a new business initiative aimed at accelerating Oman's sustainable development.
Launching Wednesday, 5 February at 7.30pm and organised by the Special Economic Zone at Duqm (Sezad), Duqm Now will bring the business community together with industry leaders, policymakers and experts to showcase opportunities in key sectors aligned with Oman Vision 2040.
Taking place at the Crowne Plaza Hotel Duqm, the inaugural Duqm Now event entitled ‘Up and Down the Green Stream' will explore renewable energy prospects for Oman's small and medium-sized enterprises (SMEs), highlighting developments in solar, wind and green hydrogen projects.
Commenting on Sezad’s Duqm Now series, Hussain Al Lawati, CEO, Development Bank said: “We are delighted to support this initiative and look forward to the opportunities it will unlock, particularly for SMEs eager to harness the potential of Sezad. Development Bank remains strongly committed to funding SME ambitions, with our lending growing from OMR23.6 million in 2023 to OMR38.9 million in 2024 - a remarkable 64.8% increase.”
The CEO added: “Given that sustainable development is at the heart of Development Bank’s strategy, I am especially pleased to see this first session will focus on the possibilities of renewable energy. This sector is not only of immense importance to our economy but also to the achievement of Oman’s 2050 Net Zero target. With these factors very much in mind, Development Bank is already working to secure sustainable financing for green projects by collaborating with international institutions such as the Green Climate Fund.”
Duqm Now “Up and Down the Green Stream” will feature a panel of prominent industry figures, including Musab Al Farsi, CEO, Nafath Renewable Energy; Dr. Khalil Al Hanashi, Senior Advisor, Ministry of Energy & Minerals; and Dr. Firas Al Abduwani, Director General, Renewable Energy & Hydrogen, Ministry of Energy & Minerals. The evening's discussion will be moderated by Dr. Mohammed Al Mugheiry, Petroleum Engineering Commercialization Manager, PDO.
The Duqm Now program will roll out across 2025 with four focused sessions covering renewable energy, manufacturing-education partnerships, circular economy practices and sustainable petrochemical production. Each event is designed to generate practical solutions for participating organizations.
Duqm Now is free of charge to attend, conducted in Arabic, and open to all. To secure a seat, email your name and contact details to [email protected]
