HSBC Bank Oman, Ithraa sign partnership framework

BUSINESS REPORTER –
MUSCAT, FEB 21 –

HSBC Bank Oman has signed a Partnership Framework with the Public Authority for Investment Promotion and Export Development (Ithraa). The Framework aims to support foreign direct investment (FDI) into Oman.
This partnership aligns with the Sultanate’s ongoing efforts to attract international businesses who see Oman as a strategic investment opportunity, while benefitting from its political and economic stability and untapped potential across a wide range of sectors. In addition, it complements HSBC’s ongoing efforts to help develop and diversify the Omani economy through its global connectivity and local expertise.
Andrew Long, CEO of HSBC Bank Oman said: “As a Bank that has been operating in the Sultanate for approximately 70 years, HSBC Bank Oman has a history of supporting the development of the country across a broad spectrum of industries. We are excited at the opportunity to continue to contribute towards the development of the economy while working alongside Ithraa.”
Ithraa is committed to attracting investment to the Sultanate and promoting Oman-made goods internationally. A range of support services and information to help domestic and international investors set up in and export from Oman.
Key sectors of focus include; infrastructure, logistics, waste management, tourism and manufacturing.
“We are thrilled to be signing this partnership agreement and collaborating with HSBC Bank Oman,” said His Highness Sayyid Faisal Al Said, Ithraa’s Director General of Investment Promotion. The Ithraa Director General added:
“The goal is to guide investors and businesses looking to relocate and do business in Oman and we are confident that this strategic partnership will strengthen Ithraa’s work in promoting Oman’s offer as a great place to live, work and invest.”