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Challenges to sports investment discussed

sports cluster
sports cluster

Adil Al Balushi

Muscat, OCT 24

The inaugural day of investment in sports cluster laboratory discussed the challenges that faced by the investors during the session on Monday which featured participants from different sectors including government entities, sporting activities and committees.

The laboratory is under organisation of Ministry of Culture, Sports and Youth in coordination with Oman Vision 2040 Implementation Follow-up Unit and the National Programme for Investment and Exports Development (Nazdahir). The laboratory began on Monday and will run for a period of four weeks until November 17.

It is expected that after the completion of the laboratory, many of the projects and initiatives will be raised by the participants from different stakeholders to the top deciders for execution in the near future. The laboratory highlights on three main pillars in sports investment including: sports investment projects, hosting of sporting events and sports tourism. These three sections will cover different sub-subjects including: laws and legislation, infrastructure and qualified human resources, funding sources, and seeking for the right investment opportunities and investors in this sector.

The laboratory aims for to agree on the general enablers in legislation and laws and to simplify the procedures for the investors to do proper investment in sporting field. This will lead for better defining the roles of the authorities and drawing a road map to achieve the desired goals of the sector and Oman Vision 2040.

Basil bin Ahmed al Rowas, Under-Secretary of the Ministry of Culture, Sports and Youth for Sports and Youth affirmed that Oman has a wide range of investment opportunities in sports cluster. “ We are expecting from this laboratory to recommend potential projects and investment opportunities that may executed in the reality with top economic values,” he said.

Many of new projects, initiatives and investment opportunities in the sports sector will come out by the end of laboratory. This will enhance its role in supplying the national economy through strategic directions and aligning the sector with legislation, laws, regulations and systems.

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