The Duqm Special Economic Zone in Muscat has seen a massive surge in investments, with over OMR6 billion raised in the third quarter of 2024. Sheikh Ahmed Musallam Al Kithiri, Governor of Al Wusta, highlighted that the region is a hub for renewable energy projects, hosting 5 out of 8 national projects in Oman. These projects include green hydrogen, solar energy, wind energy, and other related ventures with a combined investment value of $49 billion. The 5th Duqm Forum focused on key investment opportunities in the blue economy, food security, logistics, tourism, and renewable energy sectors in Oman, particularly in Al Wusta Governorate.
The event, organized by the Oman Chamber of Commerce and Industry (Al Wusta Branch) in collaboration with the Foreign Ministry and the Public Authority for Special Economic Zones and Free Zones, aimed to showcase the potential of the Sultanate of Oman as a prime investment destination. Notable figures, including HH Sayyid Harib bin Thuwaini Al Said, Assistant Secretary General of the Council of Ministers for Conferences, emphasized Oman’s historical maritime connections and strategic geographical location, which have facilitated trade and cultural exchanges over the centuries. The country’s modern ports and logistical infrastructure are further strengthening Oman’s position as a key player in the global transportation network.
Sheikh Khalifa Ali Al Harthy, Undersecretary of the Foreign Ministry for Political Affairs, highlighted the government’s efforts to promote economic diplomacy and attract foreign investments. The upcoming 8th edition of the Indian Ocean Conference, scheduled for February 2025 in Muscat, aims to enhance international partnerships and develop innovative solutions for sustainable development in the region. The forum’s sessions discussed investment opportunities in various sectors, including the blue economy, food security, logistics, tourism, and renewable energy, with experts from Jordan, UAE, Kuwait, and other countries sharing insights and experiences.
The Duqm Economic Forum served as a platform for public and private sector stakeholders to collaborate and explore mutual growth opportunities. With a focus on technologies and global experiences that enhance investments in the blue economy, the event showcased innovative solutions and success stories from international experts. The forum is expected to drive positive outcomes that align with Oman Vision 2040, positioning the blue economy as a key driver of economic development in the Sultanate.
Overall, the 5th Duqm Economic Forum underscored Oman’s commitment to fostering a conducive investment environment and unlocking the full potential of the blue economy. By facilitating knowledge exchange, strategic partnerships, and investment opportunities, the event contributes to Oman’s vision for sustainable growth and economic development. As the Sultanate continues to attract foreign investments and promote innovation in the blue economy, it sets a strong foundation for long-term prosperity and sustainability.
