New York, Delegated by His Majesty Sultan

Qaboos Bin Said, Dr. Ali bin Mas'oud al-Sunaidy, Minister of Commerce

and Industry participated in Bloomberg Global Business Forum, which

began in New York, USA.

The sessions of the forum focused on the importance of

concerted efforts by governments and private sector's institutions to

address global warming in a bid to reduce the causes of global


Participants at the meeting addressed a range of investment

methods to support investments in renewable energy and difficulties. It

is clear that there is more determination than ever to direct investment

funds to provide financing means, for example, green bonds, and the

importance of enacting laws by governments to support these efforts.

Successful examples from some countries were reviewed.

Dr. al-Sunaidy and his delegation also participated in a panel

discussion on the experiences of countries and financial institutions

and companies in the use of renewable energy and the ways in which

they resorted to achieving transformation.

Dr. al-Sunaidy reviewed the Sultanate's experience in the field of

reducing the use of gas in oil fields through the use of solar energy. He

also highlighted the government's orientation to diversify the energy

mix in the Sultanate by introducing wind and solar power plants during

the current five-year plan, as well as its plans to reach 25%-30% as a

renewable energy of the country's total energy production by 2030.

On the other hand, Dr. al-Sunaidy met with Michael Bloomberg,

Chairman of the Bloomberg Global Business Forum and a number of

officials at Bloomberg. He also met with a delegation of businessmen

from the Business Council for International Cooperation during which

he highlighted investment opportunities in the Sultanate.

He also met with some officials in the US Administration. Dr. al-

Sunaidy and his accompanying delegation also attended a reception

hosted by the US Chamber of Commerce, in cooperation with the

Sultanate's Embassy at the Sultan Qaboos Cultural Center in


Source: Oman News Agency