Undersecretary of Ministry of Commerce and Industry H E Mohamed bin Hassan Al Malki and Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion in the Sultanate of Oman H E Ibtisam bint Ahmed Al Farooji during the forum, yesterday.
DOHA: The Qatar-Oman Investment Forum examined the pathways to stimulate bilateral business partnerships between Qatar and Oman. The bilateral trade between both countries in the first seven months of last year stood at $1.2bn.
Delivering the opening address during the Qatar-Oman Investment Forum, yesterday, Undersecretary of the Ministry of Commerce and Industry (MoCI) H E Mohamed bin Hassan Al Malki said, the forum serves as a pivotal platform for exploring investment opportunities and fostering cooperation for the business sector in both countries. He underscored the importance of stimulating mutual investments and partnerships across priority business sectors.
MoCI Undersecretary stressed the deep historical ties and shared destiny between Qatar and Oman and pointed out that the bilateral trade between Qatar and Oman reached $1.2bn in the first seven months of 2024, compared to $1.4bn for the entirety of 2023. He expressed optimism that the Qatari and Omani private sectors could play a key role in taking trade exchanges to the next level.
Al Malki urged the business community in both nations to leverage the forum as a valuable opportunity to develop strategic partnerships that achieve shared goals and aspirations.
The forum reflects shared commitment by both nations to enhance trade relations and realise a deeper integration in line with national visions and aspirations.
Meanwhile Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion in the Sultanate of Oman H E Ibtisam bint Ahmed Al Farooji said, “The economic relations between Oman and Qatar are not limited to bilateral cooperation only but also include joint investments that contribute to achieving sustainable development and strengthening the national economy of the two countries.”
“Recent years have witnessed remarkable things in the size of mutual investments, as the value of Qatari investments in Oman amounted to OMR2bn, or approximately QR19bn, focused on important strategic sectors that support Oman Vision 2040, such as energy, hotels, tourism, transportation and logistics, and the real estate sector. In return, Omani investments in Qatar contributed to supporting sectors such as services and logistics.”
“Qatar and Oman have expressed a strong desire to build bridges of economic and investment cooperation based on the ambitious visions - Oman Vision 2040 and Qatar National Vision 2030,” she added.
The forum brought together representatives from government entities, investors, and chief executives of major Qatari and Omani companies – marking a key milestone on the path of fostering bilateral investment and exploring promising opportunities in the business sectors of mutual interest.
It discussed the latest improvements in the business environments in Qatar and Oman. Bilateral meetings were held between representatives of the Qatari and Omani private sector to discuss potential collaboration in promising sectors, including logistics, food security, and tourism.
The discussions focused on new mechanisms for establishing partnerships in line with the aspirations of both countries.
During the forum presentations by both parties was given highlighting the potential and opportunities in both countries.
