The “Promising Opportunities Forum in Al Dhahirah Governorate 2025” has launched to significant acclaim, immediately unlocking substantial business opportunities and fostering collaboration between government and private sectors in Oman. Held under the patronage of H.E. Qais bin Mohammed Al-Yousef, Minister of Commerce, Industry and Investment Promotion, the forum is poised to be a catalyst for economic growth in the region, specifically targeting the thriving SME sector and attracting vital investment. The event’s opening day alone saw agreements and MoUs signed worth over RO 15 million, signaling a strong commitment to realizing the potential of Al Dhahirah Governorate.
A Hub of Potential: Al Dhahirah Opens for Business
The forum, running until December 3rd, is showcasing a remarkable portfolio of business opportunities exceeding RO 100 million, presented by a diverse group of 25 government and private institutions. This underscores a concerted effort to diversify Oman’s economy and empower local entrepreneurs. The Al Dhahirah region, strategically located and rich in resources, is being deliberately positioned as a key driver of the country’s economic future, aligning directly with the objectives of Oman Vision 2040. This forum is intrinsically about strengthening the Omani private sector and creating a more resilient, multifaceted economy.
Landmark Agreements and MoUs on Day One
The inaugural day of the forum was marked by a flurry of activity, resulting in the signing of 29 agreements and cooperation memoranda. These partnerships represent tangible commitments and pave the way for collaborative projects across various industries.
Here’s a detailed breakdown of some key collaborations:
- Al Dhahirah OCCI Branch’s Tripartite Partnerships: The OCCI branch sealed three important MoUs – with Development Bank for the Economic Horticulture Program, boosting SME support in agriculture; with bp Oman, jointly offering entrepreneurial training; and with Business Gateways International (JSRS) to establish a platform for promoting local SME products.
- Al Dhahirah International Development & Investment Co. SAOC: This company secured cooperation with Daleel Petroleum, the Egyptian Contracting Company, Shoala Energy, and Strait Gate Engineering Consultancy, suggesting broad sector interest.
- Public Authority for Special Economic Zones and Free Zones (OPAZ): Eleven work contracts were signed with key players like Sustainable Energy Development Establishment and other local trading and business entities, demonstrating a focus on infrastructure and sustainable development.
- Petrojet & Madayn Collaboration: Petrojet signed six contracts with Madayn (Public Establishment for Industrial Estates) and major engineering firms, indicating significant projects planned within Oman’s industrial landscape.
These initial agreements establish a strong foundation for future economic cooperation and demonstrate the immediate impact of the forum.
Ten New Initiatives to Empower SMEs
Beyond the immediate financial value of the signed agreements, the forum also unveiled over ten new initiatives dedicated to supporting small and medium enterprises. This commitment to nurturing local businesses is central to Oman’s vision.
Some notable announcements include:
- OPAZ Textile Training: A program to train 15 jobseekers in the textile sector, addressing skills gaps and creating employment opportunities.
- Authority for Projects, Tenders and Local Content Workshops: Focused support for SME participation in government projects through guidance on registration, classification, and tender procedures.
- Riyada’s Entrepreneurship Center: Establishment of a dedicated center in Al Dhahirah to foster a more robust entrepreneurial ecosystem.
- Madayn’s Rental Fee Reduction: A substantial 50% reduction in rental fees for new projects within Ibri Industrial City for a period of five years, making it more attractive for SMEs to establish operations.
- Nama Group’s Capacity Building Programs: Workshops covering essential aspects like bid preparation, procurement processes, and innovation within the water and sustainable resource sectors.
- JSRS SME Support Package: A comprehensive offering including free subscriptions, technical assistance, and training to enhance SME visibility.
- Daleel Petroleum’s Focused Strategy & Incubator Funding: Dedicated support for Al Dhahirah companies, coupled with investment in a technology incubator at the University of Technology and Applied Sciences–Ibri.
These diverse initiatives highlight a holistic approach to SME development, encompassing training, financial assistance, and access to markets.
Strategic Alignment with Oman Vision 2040
H.E. Sheikh Faisal bin Abdullah Al-Rawas, Chairman of OCCI, emphasized the forum’s alignment with the Chamber’s strategic objectives – particularly fostering economic growth in governorates, enhancing the business environment, and diversifying the economy. He highlighted Al Dhahirah’s potential across sectors like industry, agriculture, logistics, tourism, and renewable energy, positioning the forum as a crucial platform for collaboration that will attract future investment.
Saif bin Saeed Al-Badi, OCCI Board Member and Chairman of the OCCI Branch in Al Dhahirah, added that the forum is a vital step towards achieving Oman Vision 2040, specifically in developing governorates and promoting a stronger private sector. He noted the region’s strategic location as a gateway to neighboring countries.
A Forward-Looking Approach
The forum wasn’t just about signing deals; it also featured informative visual presentations detailing ongoing development projects in Al Dhahirah and showcasing the incentives available to foreign investors. These presentations served to paint a compelling picture of the governorate’s potential and attract further interest.
The second day of the forum promises in-depth discussions with representatives from Development Bank, the Authority for Projects, Tenders and Local Content, Riyada, and JSRS, providing valuable insights for business owners and potential investors.
In conclusion, the “Promising Opportunities Forum in Al Dhahirah Governorate 2025” is proving to be a resounding success, unlocking significant business opportunities and cementing Al Dhahirah’s position as a vibrant hub for economic growth within Oman. The focus on SME development and strategic alignment with Oman Vision 2040 positions this event as a pivotal moment for the region’s future. Participants are encouraged to actively engage in the remaining sessions and explore the wealth of resources available to capitalize on this burgeoning potential.
