Oman launches 50 investment opportunities

Oman launches 50 investment opportunities

Muscat: Investors who wish to contribute to Oman's industrial development now have 50 new opportunities to do so. Qais bin Muhammad Al Youssef, the Minister of Commerce, Industry and Investment Promotion, inaugurated the new initiative, which is part of the 100 industrial opportunities being run in collaboration with Petroleum Development Oman, and Madayn, the Public Authority for Industrial Estates. Dr Saleh bin Saeed Masan, the Undersecretary for Commerce and Industry, said industrial development is a key part of Oman Vision 2040, which pursues diversification to reduce reliance on exports, build a resilient economy, and withstand global fluctuations, while providing good employment and living standards for people in the country. "We would like to emphasise the commitment of the Ministry of Commerce, Industry and Investment Promotion with all partners towards this strategic partnership," he added. "We will work to promote these opportunities to attract both local and foreign investors, and help provide all of the support they require to set up their businesses." The first phase of this industrial strategy, according to Sami bin Salem Al Saheb, Director General of the Directorate General of Industry, will help meet four objectives. It will target investment in those areas earmarked under the 2040