Sultanate ideal for investments

East or west; south or north, Oman is a top investment destination in the region and its highly proactive regulations and encouraging governing bodies favour a highly constructive environ for business and trade. This was sounded at the Invest in the Sultanate of Oman 2011 Forum held at Al Bandar Hotel in Barr al Jissah Resort and Spa under the auspices of His Highness Sayyid Kamil bin Fahd al Said, Assistant Secretary-General for the Office of the Deputy Prime Minister for the Council of Ministers yesterday. “At a time when countries get carried away with the swift developments, the Sultanate of Oman still holds its true identity whatever positive changes take place in the country”, Shaikh Saleh Kamil, Head of the United Chambers of Commerce, Gulf Region said. “When you walk through the streets of Oman you would aptly feel that you are very much in Oman only unlike some other countries which lost its true identity while embracing modernity and you feel that you are not in an Arab country”, he said, adding that “Oman is the only country where you can get the locally sourced Arab costumes and headgear which shows its true potential in encouraging locally produced goods and services”. Organised by Oman Chamber of Commerce and Industry (OCCI) and the Federation of the GCC Chambers in conjunction with the Islamic Development Bank, the forum discusses a number of topics relating to the most important investment opportunities in the Sultanate and the future vision of the private sector on the challenges facing the GCC countries in the current circumstances. Delivering the opening speech, Khalil bin Abdullah al Khonji praised the various initiatives of the government in supporting and encouraging business and trade in the country. The forum attracted governmental departments that sponsor and organise investments such as local and foreign investors, regional and international investment institutions, local, regional and international finance institutions and the regional and international organisations and authorities that support investments, business and trade. Besides representatives of Oman’s various ministries, top executives from Oman’s and regional investment authorities, tourism, industrial trade, and other local and foreign companies, banks and other financial institutions were also present at the Invest in Oman Forum. Khalid bin Mohammed al Aboodi, CEO of the Islamic Organisation of Private Sector Development said that the Islamic Bank for Development Group was ready to contribute to increasing the local investment to achieve the aims of the sustainable development of the Omani government. The forum witnessed the signing of an 1324468961757343700 MoU between OCCI and Amman Chamber of Commerce and Industry. It was signed from the Omani side by Khalil bin Abdullah al Khonji, OCCI Chairman and from the Jordanian side by Riyadh al Saifi, Chairman of Amman Chamber of Commerce and Industry. The MoU provides for encouraging trade and investment co-operation between the Sultanate and Jordan by establishing wider and comprehensive economic relations between the organisations and businessmen in both countries, as well as exchange of information, books and publications that enhance the joint economic work, besides encouraging the exchange of trade delegations between the two countries. — Pictures by Shamsa al Harthiya