Oman Vision 2040 is a favourable opportunity, says EXIM President

Muscat: Kimberly Reed, President of the US Export-Import (EXIM) Bank said that the American investors have positive impression on the steps taken by the Sultanate’s government under the leadership of His Majesty Sultan Haitham Bin Tarik to improve the economic environment, boost the private sector and attract more investments to the Sultanate.

She added that the commercial team at the US Embassy in Muscat is exerting great efforts in raising awareness of the US business community towards the available investment opportunities in the Sultanate.

In an interview with Oman News Agency (ONA), the American official praised the promising sectors in Oman Vision 2040, stressing the possibility that the US EXIM Bank could contribute to strengthening the investment and economic relations between the two sides.

The President of the US EXIM Bank said that Oman Vision 2040 represents a new chapter for Oman  and it presents opportunities for new stage of partnership between the Sultanate and her country, especially in the economic fields.  

She commended the historic and strategic relations binding the two friendly countries in many commercial, economic and investment areas.

She explained that there many sectors in which the bank can play a vital role in promoting the bilateral relations between the two countries.

These sectors, she added, include wireless communications, 5G technologies, agriculture, biotechnology, water treatment, manufacturing industries, medical sciences, and the promising mining sector in the Sultanate.

She explained that her country has advanced equipment that can be well utilised if it is used in many of the aforementioned sectors, particularly in the mining sector.

During her visit to the Sultanate, Kimberly Reed, President of the US EXIM Bank, met with many officials, including Sayyid Badr Hamad Al Busaidi, Foreign Minister.

It is worth noting that the Free Trade Agreement (FTA) between the Sultanate and the United States of America came into force in early 2009. The FTA has been contributing in boosting the investment cooperation between the two countries.