Wednesday 30 / October / 2024
Muscat: The world’s top investors and CEOs of the global economy’s biggest stock markets will soon be headed to Oman to participate in the 13th World Exchange Congress, to be hosted by the Muscat Securities Market (MSM) on February 27 and 28.
Oman will host the world’s top economists and financial experts, who will discuss pressing themes, such as financial security, cyber technologies, revenue streams, and innovation.
The event is also an opportunity for local organisations to form long-term partnerships and seek advice from colleagues.
“Oman was named the host after competing with other global securities exchanges and winning the bid, after it offered to be a prominent economic hub, as well as a unique tourist destination for the 250 delegates that the Congress attracts from around the world,” Tabinda Bukhari, marketing specialist at MSM, said. “It is an absolute honour for Oman to have been selected to host this event because many countries bid every year and this promises long-term benefits for the host’s economy. We have a responsibility towards sustainable investment, and this has always been our strategy,” she added.
“We work with schools and colleges to make students more financially aware and the same extends to companies. The World Exchange Congress is a great opportunity for companies to meet with investors and understand the value of financial prudence,” she remarked.
Companies listed on the MSM stock exchange have been invited as they have investment arms, such as OMINVEST, Duqm Port, and Special Economic Zone Authority of Duqm (SEZAD). With Oman looking to expand its economy as part of the Tanfeedh directives, Bukhari said foreign investment will be an excellent catalyst for that to happen.
“Foreign investment is vital for Oman to expand its economy and a lot of companies will welcome this. Oman represents a market with a lot of potential and that is what we want to show investors,” she explained, adding: “There are many key areas that the government has targeted, such as manufacturing, logistics, agriculture, transport, and tourism, which will also interest investors.”
The conference attracts great support from MSM, with several other local companies involved as well. OMINVEST will sponsor the event, along with its subsidiaries U-Capital, Oman Arab Bank, and National life and General Insurance. Other companies include Oman’s Capital Markets, Muscat Clearing and Depository Company, Omantel, and Bank Muscat.
Taleb Al Makhmari, Director General for Marketing and Media at Ithraa, said: “Ithraa is proud to support MSM in organising the World Exchange Congress 2018. Our involvement in this important and prestigious event puts our brand in front of hundreds of industry professionals. This offers Ithraa management a unique opportunity to forge long-term relationships with leaders and decision makers in the international finance and investment industry.”
Omantel CEO Talal Al Mamari said: “We’re excited to be attending the 13th annual World Exchange Congress in Oman as a telecom sponsor. The conference brings together the global exchange community to share ideas and to learn how to grow their businesses through acquiring new customers, developing new revenue streams, and forging new, profitable partnerships.”
Commenting on the development, Abdulaziz Al Balushi, Group CEO for OMINVEST, said: “Welcoming the global exchanges community in Muscat will help advance our local businesses and provide a platform for global executives to build new relationships and forge mutually beneficial partnerships. Guided and supported by our visionary leaders, Oman and Muscat Securities Market have long been at the forefront to facilitate multinational events and projects of regional and international significance.”
Ahmed Al Marhoon, Director General of MSM, also said he was looking forward to the event and the positive knock-on effects it was expected to have on the Sultanate.
“The World Exchange Congress is one of the biggest annual meetings for CEOs and senior executives of the world’s trading venues,” he told Times of Oman. “This is a unique event in its ability to attract representation from all different sizes of exchanges around the world. In response to market demands, the 2018 Congress will expand to include representatives from exchanges responsible for technology, cyber security, innovation and risk,” he added.
“A faculty of 90 speakers at the event will discuss all aspects of challenges facing our industry today, from global political developments to integrating new technologies,” he further remarked.
Echoing the sentiment, Haitham Al Salmi, General Manager for Muscat Clearing and Depository Company, said: “This represents a great opportunity to learn global trends and challenges facing exchanges and markets. We will get to understand where we stand and find the way forward.”
