Al Batinah’s non-oil GDP contribution climbs to RO 11 bn
Published: 04:02 PM,Feb 26,2024 | EDITED : 08:02 PM,Feb 26,2024
A number of project agreements were signed on the margins of the forum.
SUHAR, FEB 26
The 1st Suhar Investment Forum opened here on Monday, February 26, under the auspices of High Highness Sayyid Fahr bin Fatik al Said.
The two day event, organised by the Al Batinah Branch of the Oman Chamber of Commerce and Industry (OCCI), was attended by investors from twenty different countries.
In his keynote address, Eng Saeed bin Ali al Abri, Chairman of OCCI branch in North Al Batinah Governorate, highlighted the Chamber’s role in facilitating the economic growth of the governorate.
“The Chamber of Commerce and Industry of Oman aims to enhance Suhar's position within Oman as an attractive investment destination and to support the private sector in capitalizing on various investment opportunities.”
“The forum will offer a suitable platform for all interested investors to closely examine the investment system and the latest economic developments in Oman, particularly in the North Al Batinah Governorate, as well as the rapid progress in Suhar and its neighboring areas. It will include various discussions, workshops, and presentations involving government officials, experts, and business leaders from different sectors,” Eng Al Abri said.
“The forum will facilitate in-depth and extensive dialogue on various topics and issues, serving as a platform for discussion, in addition to facilitating bilateral meetings between investors and representatives of relevant entities involved in investment matters in Oman, as well as businessmen and officials,” he further added.
In his address, the Governor of North Al Batinah, Mohammed Sulaiman al Kindi, highlighted the economic significance of the governorate and its growth. 'The governorate accounted for 16% of the non-oil GDP in the Sultanate, which is approximately $11 billion worth. The growth over the past two years reached 16.23%, starting from RO 3.7 billion and reaching almost RO 4.3 billion. I'm referring to the gross domestic product excluding oil and gas, which is evidence of rapid growth in the governorate.'
The Forum also included the signing of business agreements between various entities for upcoming projects in the governorate.
Suhar Industrial City, which falls under the jurisdiction of the Public Establishment for Industrial Estates (Madayn) signed four projects worth over RO 17 million.
The projects include an investment contract with the United Feeds Company for a project valued at RO 12 million, a contract with Sedra International Industries Company for a project to manufacture plastic raw materials with an investment value of RO 3.7 million, a contract with Omran White Cement Company, with an investment of RO 1 million, and a contract with Al Madina Food Industries to establish a project of tea blending and packaging with an investment value of RO 850,000.
The first day of the forum was also accompanied by a parallel exhibition, showcasing various public and private investment stakeholders in Oman.
OCCI-North Al Batinah has identified over 100 investment opportunities with investments totaling over RO 1 billion in the governorate. These investments offer the potential of creating 9,000 jobs spanning across eight main sectors: healthcare, information technology, logistics, circular economy, industry, food security, and tourism.
The 1st Suhar Investment Forum opened here on Monday, February 26, under the auspices of High Highness Sayyid Fahr bin Fatik al Said.
The two day event, organised by the Al Batinah Branch of the Oman Chamber of Commerce and Industry (OCCI), was attended by investors from twenty different countries.
In his keynote address, Eng Saeed bin Ali al Abri, Chairman of OCCI branch in North Al Batinah Governorate, highlighted the Chamber’s role in facilitating the economic growth of the governorate.
“The Chamber of Commerce and Industry of Oman aims to enhance Suhar's position within Oman as an attractive investment destination and to support the private sector in capitalizing on various investment opportunities.”
“The forum will offer a suitable platform for all interested investors to closely examine the investment system and the latest economic developments in Oman, particularly in the North Al Batinah Governorate, as well as the rapid progress in Suhar and its neighboring areas. It will include various discussions, workshops, and presentations involving government officials, experts, and business leaders from different sectors,” Eng Al Abri said.
“The forum will facilitate in-depth and extensive dialogue on various topics and issues, serving as a platform for discussion, in addition to facilitating bilateral meetings between investors and representatives of relevant entities involved in investment matters in Oman, as well as businessmen and officials,” he further added.
In his address, the Governor of North Al Batinah, Mohammed Sulaiman al Kindi, highlighted the economic significance of the governorate and its growth. 'The governorate accounted for 16% of the non-oil GDP in the Sultanate, which is approximately $11 billion worth. The growth over the past two years reached 16.23%, starting from RO 3.7 billion and reaching almost RO 4.3 billion. I'm referring to the gross domestic product excluding oil and gas, which is evidence of rapid growth in the governorate.'
The Forum also included the signing of business agreements between various entities for upcoming projects in the governorate.
Suhar Industrial City, which falls under the jurisdiction of the Public Establishment for Industrial Estates (Madayn) signed four projects worth over RO 17 million.
The projects include an investment contract with the United Feeds Company for a project valued at RO 12 million, a contract with Sedra International Industries Company for a project to manufacture plastic raw materials with an investment value of RO 3.7 million, a contract with Omran White Cement Company, with an investment of RO 1 million, and a contract with Al Madina Food Industries to establish a project of tea blending and packaging with an investment value of RO 850,000.
The first day of the forum was also accompanied by a parallel exhibition, showcasing various public and private investment stakeholders in Oman.
OCCI-North Al Batinah has identified over 100 investment opportunities with investments totaling over RO 1 billion in the governorate. These investments offer the potential of creating 9,000 jobs spanning across eight main sectors: healthcare, information technology, logistics, circular economy, industry, food security, and tourism.