Muscat: Oman’s economic stimulus plan is aimed at improving the business environment, attracting foreign investment and alleviating the impact of COVID-19 on the national economy.
A virtual meeting of the Ministry of Commerce, Industry and Investment Promotion and the Foreign Ministry was held with the ambassadors of the Sultanate to the GCC states and African countries on Wednesday.
In the meeting, economic developments in the country, prerogatives and services of the Ministry of Commerce, Industry and Investment Promotion, as well as incentives and investment opportunities available in Oman were discussed.
They also discussed mechanisms to attract investors and importers in the targeted countries to benefit from incentives in the Sultanate, promote economic cooperation and find investment partnerships. It also explored a mechanism for direct communication and cooperation with missions and respective entities in the Sultanate.
Sheikh Khalifa Ali Al Harthy, Diplomatic Affairs Undersecretary at the Foreign Ministry, commended the efforts exerted by the Ministry of Commerce, Industry and Investment Promotion in organising this meeting and attracting more foreign investments in Oman.
He stressed the importance of such meetings in highlighting economic developments, investment laws and incentives offered by the Sultanate to investors.
Asila Salim Al Samsami, Investment Promotion Undersecretary valued the royal blessing of His Majesty Sultan Haitham Bin Tarik to the economic stimulus plan (ESP), which will contribute in revitalising the investment environment and attracting more investments in the Sultanate.
Azzan Qassim Al Busaidi from the Ministry of Commerce, Industry and Investment Promotion gave a presentation for the ambassadors.
It highlighted services offered by the ministry to attract foreign investment and develop Omani non-oil exports. It also provided an overview on the investment environment, promising investment sectors in the county and mechanisms of exporting Omani products to target markets.
At the end of the virtual meeting, discussions were conducted with the ambassadors on the investment environment in the Sultanate, as well as mechanisms of communication and cooperation.
The meeting was attended by Maithaa Saif Al Mahrouqi, Tourism Undersecretary, Eng. Ridha Juma Al Saleh, Chairman of Oman Chamber of Commerce and Industry (OCC) and representatives from Ministry of Transport, Communications and Information Technology, Oman Investment Authority (OIA), Public Authority for Special Economic Zones and Free Zones (OPAZ) and Ministry of Economy.