MUSCAT: The World Exchange Conference (WEC), which began yesterday, disclosed that the Sultanate has the potential to become a regional logistic hub by 2020 capable of pulling $16 million worth of investments. The 13th edition of the World Stock Exchanges Conference began at the Shangri-La Hotel Muscat on Tuesday with participation of over 250 experts, specialists and financial decision maker from 60 countries.
The opening ceremony was held under the patronage of Dr Ali bin Masoud al Sunaidy, Minister of Commerce and Industry Deputy Chairman of the Supreme Council for Planning.
The two-day conference is organized by Terrappin in cooperation with Muscat Securities Market (MSM). It brings together a number of officials and experts working in the stock exchanges, investment companies, investment funds, related institutions and those interested in developing the securities industry.
Attended by more than 250 experts and economic and financial decision-makers from 60 countries, the conference sheds light on the modern trends in stock markets and income diversification strategies for companies.
The participants stressed the importance of the stock markets in investment and capital flow but the development of global stock markets requires constant improvements. They affirmed that the Sultanate has managed to set up the infrastructure of this sector. Dr Ashraf bin Nabhan al Nabhani, Chairman of MSM Board, affirmed that the conference coincides with developments being witnessed by markets of the region in light of the fluctuation of oil prices.
On his turn, Ahmed bin Saleh al Marhoon, MSM Director-General, said that there are many and many disciplines that can be presented in this forum, stressing the importance of the securities industry investment and the freedom of capital movement as the Sultanate encourages foreign investment.
Rainer Riess, Director General of the Federation of European Securities Exchanges (FESE) said that a better future can be built though adopting best practices as there are various changes occurring in the economy and the world, which require more improvement in the exchanges performance. He affirmed that the Sultanate has managed to avail an infrastructure in this field.
Meanwhile, Saleh bin Hamoud al Hassani, Director General of Investors Services at the Special Economic Zone Authority of Duqm (SEZAD) gave a presentation on the national goals of establishing Duqm project, which is one of the most important economic projects in the Sultanate.
On his turn, Talal bin Saad al Barwani from Duqm Port presented a detailed working paper on Duqm.
The first day of the conference witnessed the presentation of several working papers that discussed the assessment of capital markets, the impact of their promotions and their retreat on the general growth, in addition to the adoption of cloud technology and its impact on how future infrastructure organizations work and how emerging technology promotes exchange, liquidation and settlement systems.
four panel discussion were held today with participation of a number of CEOs of the global exchanges. The sessions touched upon the performance of stock exchanges and how they can become more attractive.
The opening ceremony was attended by Yahya bin Said al Jabri, SEZAD Chairman, Chairman of the Capital Market Authority (CMA) and a number of officials at the capital market sector, investment funds, banks and investment companies inside and outside the Sultanate. — ONA