UAE president's visit will contribute to more JVs: OCCI
Published: 07:09 AM,Sep 26,2022 | EDITED : 12:09 PM,Sep 26,2022
Muscat - The private sector in the Sultanate of Oman has welcomed the upcoming visit of Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates to the Sultanate of Oman.
A number of businessmen and businesswomen said this visit would contribute to opening new horizons of economic cooperation and commercial partnership, providing more facilities and incentives that lead to increased trade exchange and entering into joint investment partnerships or joint ventures (JVs) with their counterparts from the UAE side.
Eng. Redha bin Juma al Saleh, Chairman of the Oman Chamber of Commerce and Industry (OCCI), said that the Sultanate of Oman and the United Arab Emirates are moving forward with visions and firm steps towards achieving success to increase investment opportunities and trade exchange, and provide facilities and incentives encouraging investment, in addition to working to achieve commercial partnerships in various sectors. economic services that serve the economies of the two brotherly countries.
He pointed out that there are investment opportunities and incentives that contribute to the development of trade and investment relations, as there are many commercial partnerships between the two brotherly countries. The value of Omani exports to the United Arab Emirates reached more than RO1.3 billion in 2021, while the value of imports from the UAE to the Sultanate of Oman amounted to more than RO4.2 billion.
In terms of the volume of Emirati investments registered in the Sultanate of Oman in 2021, he said that the total contribution of the UAE is about RO1.2 or more than 42 percent, and these investments are distributed among 3,071 companies, most of which are concentrated in the commercial, construction, industrial, real estate, and services sectors. and transportation.
Lujaina bint Mohsen bin Haider Darwish, Member of the State Council and CEO of the Mohsin Darwish Group, said that there are social, cultural, political, and economic relations linking the Sultanate of Oman with the United Arab Emirates.
Sheikh Ghanem bin Taher al Bathari, Chairman of the Board of Directors of Al Baraka Oil Services Company and Sakan Facilities Management Company, said that the visit of Sheikh Mohammed bin Zayed al Nahyanbears great indications of the depth of the brotherly relations between the two countries at the official and popular levels. The two brotherly countries enjoy exceptional relations built by the late Sultan Qaboos bin Said and Sheikh Zayed bin Sultan, based on a historical and cultural heritage linking the two brotherly countries.
Mustafa bin Ahmed Salman, CEO of the United Securities Company, said that the visit of Sheikh Mohamed bin Zayed Al Nahyan will increase trade exchange between the two brotherly countries, and will constitute good support for most of the large investment projects that are being undertaken by the United Arab Emirates.
He added that the UAE is the largest trading partner of the Sultanate of Oman, which confirms the advanced level of the existing relations between the two countries, stressing that the next stage requires increasing trade and investment partnerships between the private sector in both brotherly countries, which will contribute to raising the volume of trade and investment exchange between the two sides.
A number of businessmen and businesswomen said this visit would contribute to opening new horizons of economic cooperation and commercial partnership, providing more facilities and incentives that lead to increased trade exchange and entering into joint investment partnerships or joint ventures (JVs) with their counterparts from the UAE side.
Eng. Redha bin Juma al Saleh, Chairman of the Oman Chamber of Commerce and Industry (OCCI), said that the Sultanate of Oman and the United Arab Emirates are moving forward with visions and firm steps towards achieving success to increase investment opportunities and trade exchange, and provide facilities and incentives encouraging investment, in addition to working to achieve commercial partnerships in various sectors. economic services that serve the economies of the two brotherly countries.
He pointed out that there are investment opportunities and incentives that contribute to the development of trade and investment relations, as there are many commercial partnerships between the two brotherly countries. The value of Omani exports to the United Arab Emirates reached more than RO1.3 billion in 2021, while the value of imports from the UAE to the Sultanate of Oman amounted to more than RO4.2 billion.
In terms of the volume of Emirati investments registered in the Sultanate of Oman in 2021, he said that the total contribution of the UAE is about RO1.2 or more than 42 percent, and these investments are distributed among 3,071 companies, most of which are concentrated in the commercial, construction, industrial, real estate, and services sectors. and transportation.
Lujaina bint Mohsen bin Haider Darwish, Member of the State Council and CEO of the Mohsin Darwish Group, said that there are social, cultural, political, and economic relations linking the Sultanate of Oman with the United Arab Emirates.
Sheikh Ghanem bin Taher al Bathari, Chairman of the Board of Directors of Al Baraka Oil Services Company and Sakan Facilities Management Company, said that the visit of Sheikh Mohammed bin Zayed al Nahyanbears great indications of the depth of the brotherly relations between the two countries at the official and popular levels. The two brotherly countries enjoy exceptional relations built by the late Sultan Qaboos bin Said and Sheikh Zayed bin Sultan, based on a historical and cultural heritage linking the two brotherly countries.
Mustafa bin Ahmed Salman, CEO of the United Securities Company, said that the visit of Sheikh Mohamed bin Zayed Al Nahyan will increase trade exchange between the two brotherly countries, and will constitute good support for most of the large investment projects that are being undertaken by the United Arab Emirates.
He added that the UAE is the largest trading partner of the Sultanate of Oman, which confirms the advanced level of the existing relations between the two countries, stressing that the next stage requires increasing trade and investment partnerships between the private sector in both brotherly countries, which will contribute to raising the volume of trade and investment exchange between the two sides.