Spain-Oman Entrepreneurs’ Forum highlights country’s business opportunities

The Diplomat The opening of the Oman economy, its diversification and industrial development, as well as the business and investment opportunities it offers to the private sector with the “Oman Vision 2040” plan were the main themes of the Spain-Oman Business Forum held yesterday. Organised by the Spanish Chamber of Commerce, together with the State Secretariat for Trade through ICEX Spain Export and Investment, and CEOE, on the occasion of the official visit to Spain of an institutional and business delegation from Oman, the meeting also highlighted the excellent bilateral, diplomatic and economic relations between the two countries. Hussain Abdulhussain, a member of the board of the Oman Chamber of Commerce, recalled the Sultanate's strategic position from a logistical point of view for companies, in addition to the "favorable climate for business growth" driven by the free trade agreements signed with the United States and India. Hussain Abdulhussain pointed out the increase in the presence of Spanish companies in very diverse sectors such as petrochemicals, machinery, infrastructure, water, tourism, and technology. "From the Spanish State Secretariat for Trade we want to continue to support the strengthening of our economic and commercial ties with Oman in collaboration with the Omani authorities. In this regard, we would like to highlight the programmes and lines of support for internationalisation that we make available to companies and the Omani Administration with instruments such as the Fund for the Internationalisation of Business FIEM," explained Ana de Vicente, Deputy Director General of Mediterranean Countries, Africa and the Middle East of the Ministry of Economy, Trade and Business. Ana de Vicente also highlighted the increase in the stock of Spanish investments in Oman, and the example of successful collaboration between institutions in Spain and Oman. "Our objectives are common and our efforts can complement each other," emphasised Omar Said Omar Al Kathiri, Omani ambassador to Spain, recalling the support and information work of the Chambers of Commerce and their contribution to the excellence of bilateral relations between the two countries. The ambassador also recalled the Government's commitment to implement the transformation of the country's economy, diversifying it beyond the energy sector through "Oman Vision 2040", the national reference for economic and social planning. For his part, Jaime Montalvo, International Director of the Spanish Chamber of Commerce, agreed to highlight “the stability of the Omani economy” and the room for growth that exists to “continue increasing trade between Spain and Oman as well as the base of exporting companies, including SMEs”. He also highlighted the attractiveness of Spain for investment. Mohammed Al Lawati, head of the investment promotion department of the Ministry of Commerce, Industry and Investment Promotion of Oman, has delved into the opportunities offered by the “Oman Vision 2040” plan, based on four pillars: people and society; economy and development; government and institutions; and environment and sustainability; and focused on a series of sectors, from tourism and logistics to green energy and manufacturing.

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