The Oman Chamber of Commerce and Industry (OCCI) recently demonstrated its commitment to global financial best practices with a significant presence at the World Forum of Accountants, held at the India International Convention and Expo Centre (IICC) in Greater Noida, India. This participation underscores Oman’s dedication to strengthening its financial infrastructure and fostering international collaboration, particularly in areas like financial governance. The forum, themed “Nation Building to Global Collaboration: Strengthening Trust, Enabling Growth,” provided a crucial platform for Omani delegates to engage with leading experts and explore innovative solutions.
OCCI at the World Forum of Accountants: A Focus on Financial Governance
The OCCI delegation, led by Dr. Abdullah bin Masoud Al Harthy, Board Member and Chairman of the Supervisory Committee for the Omani Chief Financial Officer (CFO) Programme, and Mustafa Salman Ahmed, Board Member and Chairman of the Finance and Insurance Committee, actively participated in keynote sessions and specialized workshops. These sessions covered critical topics including financial governance, compliance, sustainability, and the increasingly important role of digital transformation in modern business. The forum served as an invaluable opportunity to explore enhanced cooperation between the public and private sectors, a key driver of economic growth.
Key Takeaways from the Forum
Dr. Al Harthy emphasized the strategic importance of the event, stating that it offered a unique chance to review leading international experiences and practices in accounting and governance. He highlighted the value of building communication channels with global professional institutions, noting that such engagement directly contributes to a more robust business environment within the Sultanate of Oman. This aligns perfectly with the ambitious goals outlined in Oman Vision 2040, which aims to diversify the economy and enhance its global competitiveness.
The participation of the OCCI was also closely linked to the ongoing implementation of the Omani CFO Programme. This strategic initiative is designed to elevate the skills and expertise of Omani professionals in financial management, advanced accounting, and corporate governance. The program, developed in collaboration with the Muscat Chapter of the Institute of Chartered Accountants of India (ICAI), is proving instrumental in preparing Omani leaders to navigate the complexities of the modern financial landscape.
Strengthening Omani Financial Capabilities
The Omani CFO Programme has already demonstrated success in enhancing the readiness of Omani professionals to assume leadership roles in financial functions across both public and private sector organizations. This, in turn, is supporting the broader economic transformation ecosystem within Oman. By investing in its human capital, Oman is positioning itself for sustainable growth and increased resilience in a rapidly changing global economy. The focus on corporate governance is particularly crucial for attracting foreign investment and fostering trust in the Omani market.
Collaboration and Expertise Exchange
Mustafa Salman Ahmed echoed Dr. Al Harthy’s sentiments, emphasizing the OCCI’s commitment to developing Omani capabilities in financial and accounting disciplines. He noted that the discussions and meetings held during the forum facilitated a valuable exchange of expertise with international professional bodies. This exchange opened doors to potential cooperation opportunities in areas such as financial development, governance, and compliance.
Furthermore, Ahmed underscored that the Chamber’s involvement is part of a broader strategy to strengthen its international presence and forge effective professional partnerships. These partnerships are essential for developing a robust framework for governance and financial transparency, ultimately enhancing the competitiveness of the Omani private sector on both regional and international stages. The ability to navigate international accounting standards is becoming increasingly vital for Omani businesses seeking to expand their reach.
Looking Ahead: Oman’s Vision for Financial Excellence
The OCCI’s participation in the World Forum of Accountants represents a significant step forward in Oman’s journey towards financial excellence. By actively engaging with global best practices and investing in the development of its national workforce, Oman is laying a strong foundation for sustainable economic growth and prosperity. The insights gained from the forum will undoubtedly inform future policy decisions and contribute to the successful implementation of Oman Vision 2040.
The commitment to strengthening financial governance, fostering international collaboration, and empowering Omani professionals will be key to unlocking the Sultanate’s full economic potential. The OCCI’s continued engagement in such global forums is crucial for staying ahead of the curve and ensuring that Oman remains a competitive and attractive destination for investment.
To learn more about the Omani CFO Programme and the OCCI’s initiatives to promote financial excellence, visit the OCCI website or contact their offices directly. Stay informed about future events and opportunities to collaborate with Omani businesses and professionals.
