OCCI signs MoU with Oxford Business Group

Muscat: The Oman Chamber of Commerce and Industry (OCCI) has signed a memorandum of understanding (MoU) with Oxford Business Group (OBG).
Under the MoU, the OCCI’s representatives will help OBG to produce The Report: Oman 2019.
The report will detail Oman’s efforts to attract investment for the areas of its economy identified as ripe for growth, including transport and logistics, tourism, manufacturing, agriculture, and fisheries and mining.
The report will focus on Tanfeedh, the Sultanate’s diversification strategy, while analysing the progress made, to date, and explain what the latest developments mean for the international investment community.
It will also explore the impact that higher oil prices are having on Oman’s broader economy and the government’s plans for tackling the deficit, which includes encouraging private sector players to partner in a group of national projects.
There will also be detailed coverage of the steps that the government is taking to improve the country’s investment climate, in a bid to address some concerns highlighted by businesses, such as comparatively high start-up costs and issues relating to foreign ownership.
Commenting after the signing, Abdul Adheem Abbas Al Bahrani, Chief Executive Officer (CEO), OCCI, said he looked forward to teaming up with OBG to explore the new investment opportunities emerging on the back of the Sultanate’s drive to broaden its economic base and relay the country’s advantages to a wider audience.
“With international interest in Oman’s diversification strategy rising, the need to ensure that decision makers have accurate and reliable data is crucial,” he said.
“Oxford Business Group’s reports on emerging markets are recognised as market leaders in their field. I’m delighted that we will be contributing to its forthcoming analysis of the sultanate’s changing economic landscape and the exciting openings that these developments are producing.”
Welcoming the OCCI on board, OBG’s editorial manager in Oman, Irfaan Jaffer, agreed that the move to tap investors for projects similar to those historically funded by the government was gaining momentum.
“The OCCI is playing a pivotal role in boosting the private sector’s contribution to Oman’s economic development,” he said.
“I’m thrilled that our team and, ultimately, our readers, will benefit from the chamber’s local knowledge of the Sultanate’s evolving business scene, as we begin work on this publication.”
The report will be produced with the OCCI, the National Centre for Statistics and Information, Ominvest and CMS. It will be available online and in print.