Wednesday 20 / November / 2024
Muscat: The total investments in the Duqm Special Economic Zone amounted to more than OMR6 billion in the third quarter of 2024, said Sheikh Ahmed Musallam Al Kithiri, Governor of Al Wusta.
In the field of renewable energy, the governorate hosts 5 projects out of 8 national projects in the Sultanate of Oman, with an investment value of $49 billion in green hydrogen projects and the fields of solar energy, wind energy and related projects, added Sheikh Al Kithiri.
The 5th Duqm Forum reviewed the most important investment opportunities available in the blue economy, food security, logistics, tourism and renewable energy sectors in the Sultanate of Oman in general and Al Wusta Governorate in particular.
The event, held at Oman Convention and Exhibition Center on Sunday, was organised by Oman Chamber of Commerce and Industry (Al Wusta Branch), in partnership with the Foreign Ministry and the Public Authority for Special Economic Zones and Free Zones.
The opening ceremony was held under the patronage of HH Sayyid Harib bin Thuwaini Al Said, Assistant Secretary General of the Council of Ministers for Conferences.
During the event, Sheikh Khalifa Ali Al Harthy, Undersecretary of the Foreign Ministry for Political Affairs explained that the Sultanate of Oman’s ancient history linked to the sea and its strategic location on the open seas have enabled it to communicate and establish trade and cultural relations with many countries and peoples in the world throughout ages.
Therefore, the government, said Al Harthy is investing and strengthening this field by constructing modern ports and a network of expressways that provide distinguished logistical services in the field of distributing and transporting containers in the region, which qualifies it to be a major link in the global transportation network.
He pointed out that holding such seminars provides an opportunity to exchange global expertise, benefit from new research and developments, and explore more opportunities in the field of investment, tourism, environmental safety, and navigation in the seas and oceans.
He affirmed that the Sultanate of Oman has many components and resources related to blue economy, which constitute promising opportunities for foreign investments.
He further added that the Foreign Ministry, by activating economic diplomacy, forms a link between the parties concerned and countries, entities, and individuals wishing to invest in the Sultanate of Oman.
Sheikh Al Harthy said that the Sultanate of Oman, represented by the Foreign Ministry, will host the 8th edition of the Indian Ocean Conference, in Muscat in February 2025, with the aim of strengthening international partnerships and developing innovative solutions that contribute to the sustainability and stability of the Indian Ocean region.
The first session of the forum addressed the pillars and strategies of investment in the blue economy, with the participation of Naif Humaidi Al Fayez, Chairman of the Board of Commissioners of the Aqaba Special Economic Zone Authority in Jordan, Abdullah Sultan Al Owais, First Vice President of the Federation of UAE Chambers and Chairman of the Board of Directors of the Sharjah Chamber, Dr. Nasser Rashid Al Maawali, Undersecretary of the Ministry of Economy, Shafi Taleb Al Ajmi, CEO of Kuwait Petroleum International, Dr. Aflah Said Al Hadhrami, Director General of Petroluem Development Oman (PDO) and Dr. Alaa Al Din Abdeen Bukhari, Senior Influence and Achievement Officer at the General Organization for the Conservation of Coral Reefs and Turtles in the Red Sea.
The second session discussed investment opportunities in the food security, logistics, tourism, and renewable energy sectors. Eng. Yaqoub Khalfan Al Busaidi, Undersecretary of the Ministry of Agriculture, Fisheries and Water Resources for Fisheries, Azzan Qassim Al Busaidi, Undersecretary of the Ministry of Tourism and Heritage for Tourism, Abdullah Ali Al Amri, Chairman of the Environment Authority, Eng. Khamis Mohammed Al Shammakhi, Undersecretary of the Ministry of Transport, Communications and Information Technology for Transport, Dr. Ibrahim Bakhit Al Nadhiri, CEO of Asyad Shipping and Drydock, and Dr. Salah Hafiz Al Dhahab, Director General of Investment at the Ministry of Energy and Minerals took part in the session.
The third session addressed the theme of technologies and global experiences that enhance investments in the blue economy. International experts presented insights into innovations and successful experiences in this field, highlighting the available opportunities and stressing the role of the blue economy as a major driver of growth and development in the Sultanate of Oman.
The expert list in this session comprised Betsy Mathoni Nagaji, Undersecretary of the Ministry of Mining, Blue Economy, Fisheries and Maritime Affairs for the Blue Economy of the Republic of Kenya, Saleh Hamoud Al-Hasani, Advisor to the Chairman of the General Authority for Economic Zones and Free Zones, Luis Lumbana, Founder and CEO of Vicostera in Spain, Karl Schloeglbauer, General Manager of Asia and China at Andritz Hydropower Austria, Maurice Benoache, Chairman of the Board of Directors of the French Port of Lorient and Board Member of the Duqm Marina Investment Company, Captain Ezzedine Kacem, International Maritime Expert and Arbitrator, Chairman of the Tunisian National Maritime Cluster Organization, and Orkhan Vidadioglu Mamadog, Chairman of the Board of Directors of the Small and Medium Enterprises Development Agency of the Republic of Azerbaijan.
The 5th Duqm Economic Forum reflects the Sultanate of Oman’s commitment to enhancing the investment environment and developing the blue economy, as it brings together the public and private sectors to exchange ideas and visions on the future of investment in this field.
This event represents a unique platform for entrepreneurs and investors to discover available opportunities and build strategic partnerships that contribute to achieving sustainable growth. The forum is expected to achieve positive results that support national efforts towards achieving Oman Vision 2040, making the blue economy one of the vital factors in the economic development process of the Sultanate of Oman.
