Petroleum Development Oman (PDO) and Ithraa, the Sultanate’s inward investment and export development agency, came together to sign a Memorandum of Cooperation (MoC) on Tuesday. Capitalising on Ithraa’s investment and export expertise and leveraging PDO’s global energy network and pioneering work in renewables, the agreement is designed to enhance the competitiveness of Oman’s business ecosystem.
Speaking at the signing, PDO External Affairs and Value Creation Director Abdul-Amir al Ajmi remarked: “PDO is delighted to sign this agreement with Ithraa to share knowledge and experiences as well as promote research and development.”
He added: “By combining Ithraa’s experience in attracting foreign investment to the sultanate as well as promoting local goods and services overseas, with PDO’s energy expertise and impressive ICV track record, we’re creating a platform that can help meet the objectives of Vision 2040 in fostering home-grown climate and clean technology industries. Indeed, we look forward to putting today’s MoC into action.”
Commenting on the agreement, Azzan al Busaidi, Ithraa’s CEO said: “Oman’s green economy is evolving rapidly and really does have great growth potential so we’re delighted to be working alongside PDO, who will help us drive this exciting and fast moving sector. By working together, we’ll be able to identify opportunities to collaborate and create a stronger voice to encourage further foreign investment in delivering a more prosperous, equitable and greener future for Oman.”
Al Busaidi went on to say: “PDO’s pioneering work on renewables is directly contributing to Oman’s growing eco-business reputation. By developing strong and competitive green industries we can generate employment opportunities across Oman, particularly on PDO’s industrial and logistics park – jobs that offer good salaries and long-term, sustainable career prospects. And together we can nurture innovative in-demand green services to add to Oman’s export offer as well as promote the sultanate’s green growth aspirations.”
Ithraa’s CEO continued: “Attracting and retaining investment and promoting our outstanding products and services to the international community is hugely important to our economic ambitions. And as Ithraa’s CEO, I’m proud to be partnering with PDO colleagues that are committed to helping us deliver the pro-business environment international investors require, particularly in a post-COVID-19 economy. I’m proud too of the natural unique competitive advantages that have attracted international investment, trade, and talent to the sultanate and proud that we offer something truly special to our business partners.”