Oman Business Forum focuses on energy and industrial developments

MUSCAT, MAY 20

The Business Year (TBY), a renowned media company, in cooperation with the Ministry of Commerce, Industry, and Investment Promotion (MoCIIP), organized on Monday, the ‘Oman Business Forum’ with a focus on the latest developments in the future of energy and industries in all sectors. The forum, held at Oman Convention and Exhibition Centre, opened under the auspices of Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, with the attendance of a number of officials and business figures.

Al Yousef emphasized in his speech at the forum the increasing importance of renewable energy and sustainability and their role in the well-being of life on Earth and in the future of business in Oman and the economy in parallel. He added that with the targeted annual production of no less than one million tonnes of green hydrogen annually, it is expected that Oman will become the largest source of green hydrogen in the Middle East and the sixth largest source globally by 2030. He further noted during his speech that Oman is witnessing investments in the final stages from major manufacturing companies eager to capitalize on opportunities related to the production and export of green hydrogen.

In a partnership programme announced at the forum, the Ministry will support TBY in the issuance of the 10th edition of the annual book under the title ‘Oman 2024,’ focusing on Oman Vision 2040.

Eng Ammar al Kharusi, CEO of Invest Oman, gave a visual presentation in which he reviewed the strategic role played by Invest Oman in attracting major quality investments to the Sultanate of Oman in targeted priority sectors and contribute to promoting investment to raise foreign investment rates. Al Kharusi also reviewed initiatives to facilitate the investor's journey and improve the business environment, in addition to efforts aimed at attracting and implementing quality projects in cooperation with various government entities.

Qais al Yousef, Minister of Commerce, Industry, and Investment Promotion, delivers his keynote speech at the Oman Business Forum.

The forum also included two working sessions, the first of which discussed empowering technology-based businesses in Oman and the key empowerment factors for digital transformation in the Omani business environment, while the second session focused on sustainable mobility and highlighted initiatives focusing on environmental preservation, social care, and business practices.

The forum brought together a number of Omani businessmen from various sectors of trade and the local economy to review the investment environment, digital transformation, energy transition, and the role of new technologies in banking services and logistics.

The MoCIIP seeks to enhance cooperation with international media institutions to market the Sultanate of Oman as an attractive investment destination. These reports are used as a marketing tool to define the business environment and investment climate in Oman, as well as to market the "Invest in Oman" platform, which presents investment opportunities to investors from within and outside Oman, and convey local developments to the world. These reports are distributed at many events organized by the ministry worldwide.