Ithraa hosts Iranian trade delegation

Business Tuesday 26/June/2018 14:44 PM
By: Times News Service
Ithraa hosts Iranian trade delegation

Muscat: Underlining the importance Oman places on Iran as a trade partner, management from Ithraa — Oman’s investment promotion and export development agency — hosted 50 Iranian business representatives on Tuesday to discuss investment opportunities in Oman’s fast growing and ambitious economy
Led by senior Ithraa management and supported by government colleagues from the Public Establishment for Industrial Estates (PEIE), Port of Duqm, as well as Sohar Port and Freezone, the Iranian delegation were given an opportunity to meet key manufacturing and logistic officials, as well as learn about the benefits of setting up business operations in Oman.
“Today’s meetings and presentations were designed specifically to enhance dialogue between Oman and our Iranian counterparts, and capitalise on the existing trade and investment ties our two countries enjoy,” remarked Al Balushi.
Iran is the second largest economy in the Middle East and North Africa (Mena) region, after Saudi Arabia, with an estimated gross domestic product (GDP) in 2017 of $439.5 billion and an economy that expected to maintain a steady growth of slightly over 4 per cent in 2018.
Oman is an attractive proposition for Iranian investors. There is strong public and private sector leadership, as demonstrated by progress being made, in terms of diversifying the economy, as well as the success enjoyed by the Sultanate’s tourism, manufacturing, logistics, fisheries and mining sectors.
“We are open for business and the government is committed to supporting non-oil Omani export growth and encouraging inward investment. Indeed, we are constantly improving our road, air and port network, work that is clearly helping boost foreign investment in the Sultanate. This is the message we delivered to our Iranian colleagues on Tuesday, explained Al Balushi.
PEIE, Port of Duqm and Sohar Port and Freezone are recognised globally as dynamic, outward-looking organizations that are working hard to attract international investment.
“Our ports, free zones and industrial estates have demonstrated a strong track record of success over the years, which should give Iranian investors confidence in the strength of Oman’s economy and future prospects for the Sultanate,” noted Ithraa’s Director General.