Arab meet discusses investment in Oman

Muscat: The Council of the Union of Arab Chambers meeting in Muscat on Monday discussed investment in the Sultanate. The meeting was hosted by Oman Chamber of Commerce and Industry (OCCI). Dr Ali bin Masoud al Sunaidy, Minister of Commerce and Industry, Deputy Chairman of the Supreme Council for Planning (SCP), talked about the major investment opportunities available in the Sultanate, as well as the most important issues of interest to the countries of the region during the upcoming phase. Such issues are related to providing employment opportunities for young people and providing them with the necessary expertise to enter the labour market. He affirmed that the Sultanate during the last period looked for other sources to boost the GDP of the Sultanate due to the situation imposed by oil prices.
Mohamad Abdo Saeed, President of the Union of Arab Chambers, praised the efforts exerted by OCCI to develop the Chamber and affirm its role in contributing to draw economic policies for the interest of the development march being witnessed by the Sultanate. The meeting discussed a report of the financial position of the Union for 2018, the closing budget of the Union, a report of the accounts auditor for 2018, the draft budget of the Union for 2019 and appointing an auditor for the Union’s accounts for 2019. In a separate meeting HH Sayyid Asaad bin Tareq al Said, Deputy Prime Minister for International Relations and Cooperation Affairs, Personal Representative of His Majesty the Sultan, received heads of delegations taking part in the 129th meeting of the Union of Arab Chambers, being hosted by the Sultanate.
Means of developing trade and investment relations between the Arab countries were discussed, in addition to strengthening economic ties that would develop performance of the private sector. HH Sayyid Asaad affirmed the Sultanate’s role in providing all facilities for Arab investors, highlighting the good investment potentials in the Sultanate. The meeting was attended by the Secretary General, the two advisors at Sayyid Asaad’s Office and Chairman of Oman Chamber of Commerce and Industry (OCCI). — ONA