Omani-Uzbek business forum strengthens trade and investment ties

MUSCAT, FEB 26

The Oman Chamber of Commerce and Industry (OCCI) hosted the Omani-Uzbek Business Forum on February 26, 2025. The forum focused on enhancing trade, investment, and partnerships between the two nations. The event, attended by key dignitaries and business leaders, explored opportunities in vital sectors such as construction, textiles, education, and healthcare, while emphasising the role of women in entrepreneurship.

Her Highness Sayyida Hajija bint Jaifer al Said, alongside Dr. Siham bint Ahmed al Harthiya and Areej bint Mohsen Al Zadjali, both members of the OCCI Board of Directors, welcomed Abdussalam Khatamov, Ambassador of Uzbekistan to Oman, and a delegation from the Uzbek Chamber of Commerce and Industry. The forum underscored the historical ties between Oman and Uzbekistan, highlighting their shared commitment to fostering economic cooperation.

Dr. Siham al Harthiya, in her opening remarks, emphasised the forum’s role in deepening bilateral relations. “The longstanding ties between our nations, built on mutual respect and common interests, are evolving into a robust economic partnership,” she said. She noted the establishment of the Omani-Uzbek Investment Company (Ouz Oman Capital) as a milestone in bilateral cooperation, which has already funded several developmental projects and boosted investment flows.

The forum also highlighted Uzbekistan’s growing economy, driven by sectors such as construction, agriculture, and manufacturing, and its alignment with Oman’s Vision 2040, which prioritises economic diversification through manufacturing, food security, and tourism. Dr. Al Harthiya pointed out that Oman’s strategic location offers Uzbek businesses a gateway to Gulf markets and beyond, including access to the US under the Oman-US Free Trade Agreement.

Areej al Zadjali, representing the OCCI’s Businesswomen’s Committee, stressed the importance of empowering female entrepreneurs. “This forum is a platform to strengthen partnerships between businesswomen in both countries and address challenges they face in establishing joint ventures,” she said. She added that the OCCI is committed to supporting women-led businesses through institutional development and sustainable growth strategies.

Abdussalam Khatamov echoed these sentiments, describing the forum as a pivotal step in strengthening economic and trade links. “The focus on women’s entrepreneurship is crucial for fostering innovation and driving growth,” he said. He also highlighted the potential for Uzbek businesses to leverage Oman’s strategic position to access regional and international markets.

Nadira Shah Tursunova, Deputy Chairperson of the Uzbek Chamber of Commerce and Industry, emphasised Uzbekistan’s commitment to supporting entrepreneurship through legislative reforms. “Our efforts have led to steady economic growth, recognised by international organisations,” she said. She added that the Uzbek delegation’s visit to Oman aimed to strengthen women’s and youth entrepreneurship while opening new avenues for collaboration.

The forum included a presentation by Oman’s Ministry of Commerce, Industry, and Investment Promotion titled ‘Invest in Oman’, highlighting the Sultanate’s investment potential. Key points included Oman’s strategic location, high credit ratings, advanced infrastructure, and strong rankings in global indices like the Quality of Life and Logistics Performance Indexes. Promising sectors such as logistics, tourism, mining, and manufacturing were discussed, alongside enabling sectors like education, healthcare, and IT.

A key highlight of the event was an exhibition showcasing products by Omani businesswomen, featuring traditional attire, perfumes, handicrafts, and food items. Attendees praised the creativity and quality of the offerings, reflecting the growing role of women in Oman’s economy.

The forum concluded with bilateral meetings between Omani and Uzbek business leaders, aimed at fostering collaboration, exchanging expertise, and exploring joint ventures. The event marked a significant step in strengthening economic ties between the two nations, with a particular focus on empowering women and diversifying trade and investment opportunities.

As Oman and Uzbekistan continue to build on their historical ties, forums like these are expected to play a crucial role in driving sustainable economic growth and fostering mutual prosperity.