Invest in Oman Highlights Wide-Ranging Opportunities for UK Investors

London, Capitalizing on its strategic location,

infrastructure and talent, a top-flight Omani business delegation led by

Sayyid Badr bin Hamad al-Busaidi, Secretary-General of the Foreign

Ministry, co-Chair of the Oman-UK Joint Working Group met today with

Alistair Burt, the UK’s Minister of State for International Development,

Minister of State for the Middle East, co-Chair of the Oman�UK Joint

Working Group, as well as British investors drawn from manufacturing,

logistics, mining, energy, finance, investment and tourism.

Sayyid Badr affirmed the deep-rooted Omani-British relations.

He pointed out that the United Kingdom (UK) is a strategic partner in

view of the volume of existing investments between the two friendly

countries.

Sheikh Abdulaziz bin Abdullah al-Hinai, Sultanate’s Ambassador

to the UK said that organising this seminar comes at the suitable place

as the British capital market is among the pillars to enhance the trade

ties between the two countries.

The purpose of the four-day Omani visit is to lure UK

companies to set up offices in the Sultanate, helping them connect

with the fast growing economies of the Gulf and East Africa.

Speaking from London, and organizer of the trade delegation,

Nasima al-Balushi, Ithraa’s Director General of Export Development,

Acting Director General of Investment said: Oman’s development as a

logistics hub coupled with a choice of free trade zones, industrial

estates and tech parks offer an excellent mix for UK companies looking

to tap into the Gulf’s growing and lucrative market.

The visit will give the Omani delegation an ideal opportunity to

showcase the wide-ranging manufacturing, tourism and logistics

opportunities on offer in the Sultanate. It will also enable participants to

connect with the next generation of British companies looking to do

business in the Gulf and East Africa.

Ithraa’s Director General pointed out: As well as having word-

class infrastructure, Oman’s political and economic stability gives UK

investors great confidence. The strength and warmth of the bilateral

relationship and the long trading history also add to the attraction.

Amongst the leading Omani organisations participating on the

UK visit include: the Foreign Ministry, Ithraa, the Public Establishment

for Industrial Estates (PEIE), Muscat Securities Market (MSM), Asyad,

ASAAS, Special Economic Zone Authority in Duqm (SEZAD), BP Oman

and Vision 2040.

There is no better place in the Gulf to establish a business than in

Oman. This is the message we delivered at Monday’s meetings. In fact,

we are seeing more UK companies looking to Oman as a strategic

location and using it as a hub for trade with the Gulf and East Africa.

Companies that are benefiting from the Sultanate’s political and

economic stability, robust legal system, infrastructure and multilingual

workforce, explained Nasima al-Balushi.

The UK is the largest investor in Oman with nearly 50% of all

Foreign Direct Investment (FDI) in 2017 worth US$11.8bn and is also

one of the Sultanate’s top trading partners with exports of UK goods to

Oman increasing year-on-year.

The Department of International Trade (DIT) based at the

British Embassy in Muscat helped to support US$4bn of trade in goods

and services between the UK and Oman in 2017, a 92% increase from

2016. Services provided by DIT Muscat include provision of in-country

expertise and business guidance, sign posting to relevant local

partners, facilitation of meetings between suppliers and buyers,

arranging of visit programs, and provision of networking opportunities.

Trade promotion services form a central part of what Ithraa does and

we are particularly proud of our track-record of helping UK firms set-up

and export from the Sultanate. We also offer a range of inward

investment services, advice and market intelligence that give UK clients

interested in setting up in Oman the edge they need to compete in the

Gulf’s highly lucrative market, explained Nasima al-Balushi.

Ithraa’s Director General concluded: Our visit to London is a

valuable opportunity to engage with major business leaders and further

strengthen the economic relationship between Oman and the UK. We

are here to highlight Oman’s position as a gateway for UK companies

into the Gulf and other global markets.

Source: Oman News Agency