Oman’s Minister of Commerce, Industry, and Investment Promotion, HE Qais Mohammed Al Yousef, recently extended an invitation to Indian business houses to invest in the Sultanate. At an event in Mumbai attended by key members of FICCI, the Minister highlighted the various opportunities available in Oman for foreign investors. The high-powered Omani delegation, led by the Minister of Commerce and Pankaj Khimji, emphasized the strong historic relationship between Oman and India, noting that India was the first non-Arab country visited by His Majesty Sultan Haitham bin Tarik after assuming power.
Invest Oman representative Ahmed Al Mamari pointed out that people today prefer peace and tranquility over crowded cities, making Oman an attractive investment destination. Deepak Bagla, an adviser to the ministry, highlighted the global audience of the Indian film industry, suggesting that showcasing Omani landscapes in movies could have significant appeal. The Minister emphasized the efforts to streamline the investment process and encourage Indian businesses to explore opportunities in Oman’s various sectors, including tourism, logistics, manufacturing, and food security.
Pankaj Khimji, Foreign Trade and International Cooperation Adviser, Ministry of Commerce, Oman, emphasized the long-standing trade relations between India and Oman spanning over 5,000 years. He also mentioned the strategic advantages Oman offers as a gateway to the GCC and African markets, particularly highlighting the special economic zones in Duqm, Salalah, and Sohar Freezone as prime investment destinations. The Minister further discussed the upcoming signing of the final CEPA agreement, signaling a closer economic partnership between India and Oman.
The meeting with FICCI was made possible by the Indian Ambassador to Oman, Amit Narang, and was seen as a significant step towards fostering stronger bilateral ties. Dr. Yousef Hamed Al Balushi, Advisor at the Ministry of Commerce, Industry, and Investment Promotion, elaborated on Oman’s comparative advantages in key sectors and its rich natural resources, such as copper, dolomite, marble, and limestone. The Omani delegation also highlighted the historical artifacts and museum exhibits that showcase the close ties between the two countries.
Members of the Omani team, including Aziz Salim Al Hadhrami, Abdullah Al Rawahi, and Ahmed Al Maamari, emphasized Oman’s unique offerings in the tourism, logistics, and manufacturing sectors. The meeting brought together prominent Indian business leaders from various industries, such as manufacturing, energy, and infrastructure, who expressed interest in exploring investment opportunities in Oman. The discussions aimed to fine-tune the details of the economic partnership and establish closer ties between the two nations.
Overall, the visit of the Omani delegation to Mumbai served as a platform to showcase Oman’s investment potential and highlight the deep-rooted historical and cultural ties between Oman and India. With a focus on easing the investment process and promoting economic partnerships, both countries are poised to strengthen their collaboration and unlock new opportunities for growth and development. Oman’s strategic location, natural resources, and investment-friendly policies make it an attractive destination for Indian businesses looking to expand their global footprint.
