Dubai: Oman’s growing trade and investment ties with China have taken another step forward after the Sultanate’s participation in the China-Arab Expo held in Yinchuan, Trade Arabia magazine said.
In a report published on Wednesday, Trade Arabia affirmed that the Sultanate’s position as a logistics hub and the steady growth of the Special Economic Zone of Duqm (SEZD) were the focus of many recent meetings held in Yinchuan, China, during the Sultanate’s participation in the China-Arab Expo.
It pointed out that this was an opportunity to organise meetings between Omani businessmen and their counterparts from China.
It added that 35 diversified investments have been allocated in SEZD, including heavy industries, chemicals, petrochemicals, refining, manufacturing, assembly, energy and water, in addition to the renewable energy sources for the Duqm Industrial Park in Oman.
Investments in the first phase of the industrial complex are expected to hit $10.7 billion.
Trade Arabia said Oman’s participation in Yinchuan also drew attention of Chinese business investors of opportunities in Oman. Duqm offers access to growing Asian and African markets.
But perhaps the most important factor of all is the value that Chinese investors can find in Oman, and the Sultanate’s place as a trade and investment hub between Oman and China. — ONA