A delegation from the Oman Chamber of Commerce and Industry (OCCI) has begun a visit to Singapore with the goal of enhancing trade and investment relations between the two countries, particularly within the private sector. Mustafa bin Ahmed Salman, a member of the OCCI board, highlighted that the visit aims to identify opportunities for collaboration in various fields following the signing of economic agreements between Oman and Singapore during His Majesty Sultan Haitham bin Tarik’s visit to Singapore in December 2023.
The delegation’s agenda includes exploring advancements in agriculture, industries, technologies, and other areas of mutual interest, such as food security, urban planning, finance, and banking. Additionally, the group will assess investment opportunities in real estate development to attract further investments to Oman. It is noted that trade between Oman and Singapore totaled OMR767.6 million by the end of 2023, with 24 Singaporean companies currently operating in Oman with a combined investment of over OMR55 million.
The delegation consists of 25 members of the OCCI board, committee chairs, and representatives of small and medium-sized enterprises (SMEs) who will engage in discussions and meetings to foster partnerships and collaborations between Omani and Singaporean businesses. The visit underscores a commitment to strengthening economic ties and leveraging expertise in various sectors to achieve mutual benefits and growth opportunities.
As part of the visit, the OCCI delegation will participate in meetings with Singaporean counterparts to exchange knowledge and explore potential areas for cooperation based on shared interests and priorities. By tapping into Singapore’s expertise in technology, finance, and other key sectors, Oman aims to enhance its economic development and attract additional foreign investments to further diversify its economy and promote sustainable growth.
The visit to Singapore represents a strategic approach to expanding Oman’s global trade footprint and fostering partnerships with international businesses to drive economic growth and innovation. By leveraging Singapore’s advanced capabilities in various industries, Oman seeks to enhance its competitiveness and attract investments that will contribute to its long-term economic development and prosperity.
Overall, the OCCI delegation’s visit to Singapore is a significant step towards deepening bilateral ties and exploring new opportunities for collaboration between Oman and Singapore in key sectors such as agriculture, technology, finance, and real estate development. This initiative underlines Oman’s commitment to promoting trade and investment with strategic partners and leveraging international expertise to drive economic growth and innovation in the Sultanate.
