Wednesday 24 / April / 2024
Muscat: Iranian government is quite optimistic about the extension of its gas pipeline to Oman, said the Iranian Minister of Industry, Mines and Trade.
Read also: Oman plans to cut government-sponsored LPG subsidies
“I am happy to announce that the Iranian government is quiet positive about the extension of a gas pipeline across the Strait of Hormuz to Oman,” Mohammad Reza Nematzadeh, Iran’s minister of Industry, Mines and Trade, said while addressing the audience at the Oman Economic Forum on Wednesday.
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“Studies are being conducted by an Iranian firm and this project will help the energy, as well as the industrial sector in Oman,” he added.
He also said the Iranian government is encouraging the Omani government’s infrastructure plans to develop the three regional hubs of Sohar, Duqm and Salalah.
“According to our calculations, bilateral trade between the two nations has the potential to reach $4 billion in five years,” he added.
According to him, Oman and Iran can benefit from mutual cooperation in the tourism sector.
“Both of us have many attractive tourist sites, investments in hotels, removal or relaxation of visa requirements, introducing packages to the Iranian tourism industry, familiarising Omani tourism companies with various aspects of tourism in Iran from historic sites to cultural, health and eco-tourism are some key steps that need to be taken,” he asserted.
Speaking about investment opportunities in Iran, the minister said, “We offer foreign investors a number of incentives, such as manufacturing firms enjoying 100 per cent tax exemption for five years, which is 10 years, if the project is located in less developed areas.”
“Income from agricultural activities and from exports is 100 per cent tax exempt and income from tourism is 50 per cent tax exempt,” he added.
The fifth edition of the Oman Economic Forum is based on the theme “Oman: a Bridge between Asia and GCC.”
The opening ceremony of the forum will be held under the patronage of Dr Ali bin Masoud Al Sunaidy, minister of Commerce and Industry.
The forum has been organised by the Ministry of Commerce and Industry, in conjunction with the Al Iktissad Wal-Aamal Group, the State General Reserve Fund (SGRF), the Central Bank of Oman (CBO) and the Oman Chamber of Commerce and Industry (CBO).
The first day of the forum saw various topics being discussed, such as Oman’s Economic Outlook, how Oman can act as a bridge between Asia and the GCC and investment projects in different sectors in Oman.
Keynote speeches were delivered during this session by Mohammad Reza Nematzadeh, Iran’s minister of Industry, Mines and Trade, Qian Keming, vice minister of Commerce, China and Miki Yamada, Japan’s Parliamentary vice-minister for Foreign Affairs.
The second and final day of the Forum will discuss topics, such as Oman’s Investment Climate, Investment Opportunities in Iran, Financing the Future, Main Factors Attracting Investments and Promoting Entrepreneurship through SMEs.
