Royal visits unlock new trade and investment opportunities

BELGIUM

In February, His Majesty Sultan Haitham bin Tarik received King Phillippe Leopold Louis Marie, King of the Belgians, and Mathilde Marie Christine Ghislaine d’Udekem d’Acoz, Queen of the Belgians, who arrived on a 3-day visit, the highlight of which was the opening of the Port of Duqm. The latter is managed and operated through Port of Duqm Company, which is an equal joint venture company between the Omani government represented by Asyad Group with a 50 per cent stake, and a Belgian alliance between the Port of Antwerp and DEME Group jointly known as the Port of Antwerp consortium with 50 per cent.

IRAN

In May, His Majesty the Sultan received President Dr Ebrahim Raisi, President of the Islamic Republic of Iran, at the Al Alam Palace. A number of agreements and memorandums of understanding were signed to frame cooperation in the fields of investment, sports, agricultural, fisheries, animal wealth, maritime transport, ports, the logistics sector, and oil and gas.

TANZANIA

A month later, His Majesty the Sultan received Samia Suluhu, President of the United Republic of Tanzania, at the Al Alam Palace. Ten memorandums of understanding were signed between the Sultanate of Oman and the United Republic of Tanzania in a number of fields, including 8 MoUs related to the economic field, including energy, oil services, airport management, tourism and natural resources, industry and trade, promotion and investment, and food investment, live animals and meat. An MoU was also signed in the field of higher education and training, while another related to museum management.

Among the most prominent investments of Oman in the Republic of Tanzania is the investment of the Oman Investment Authority, which has a 100 per cent interest in a multi-purpose port, a deep commercial fishing port in Tanzanian / Zanzibar waters, and a fish farm in Zanzibar, among other infrastructure.

EGYPT

Also in June, His Majesty the Sultan received President Abdel Fattah el-Sisi, President of the Arab Republic of Egypt. During the meeting, six MoUs were signed in the field of promoting competition, combating monopolistic practices, establishing and managing industrial zones, promoting investment, developing exports, mutual recognition of seafarers’ qualification certificates, and environmental protection. Three executive programmes in the fields of youth and sports, work and training, higher education, scientific research and innovation were also signed. And also signing two cooperation agreements in the field of maritime transport and ports, and an agreement between Sultan Qaboos University and the National Institute for Astronomical and Geophysical Research.

UAE

In a highlight for bilateral ties, Shaikh Mohamed bin Zayed al Nahyan, President of the United Arab Emirates visited Oman in September. During the meeting, 12 MoUs were signed, which included the exchange of information related to money laundering and terrorist financing crimes, and a memorandum between the Muscat Stock Exchange and the Abu Dhabi Stock Exchange, and transportation and communications. And logistics, and a memorandum between the Muscat Clearing and Depository Company and the Abu Dhabi Securities Market Company, news and information exchange, communications and information technology, higher education, scientific research, innovation, vocational training, agricultural, animal and fisheries, food safety, maritime transport, industry, energy, culture and youth. Also, 4 cooperation agreements were signed between Oman Rail and the Etihad Rail, and in the field of dual listing operations of securities between the Muscat Stock Exchange Company and the Abu Dhabi Securities Company, and between the Muscat Clearing Company and the Abu Dhabi Securities Market, and a cooperation agreement for the trading of brokerage companies remotely.

JORDAN

Last October, His Majesty the Sultan received His Majesty King Abdullah II Ibn Al Hussein, King of the Hashemite Kingdom of Jordan. During the meeting, 7 MoUs were signed, including: industrial cooperation, labour, protection of competition and prevention of monopoly, mining, exchange of information, supervision of the insurance sector, consumer protection, historical documentation, and management of documents and archives. Two executive programmes were also signed, which included: tourism cooperation for the years “2023-2026,” and higher education, scientific research and innovation for the years “2023-2026.”

ZANZIBAR

On October 12, 2022, His Majesty the Sultan received Dr Hussein Ali Mwinyi, President of Zanzibar, at Al Barakah Palace. During the meeting, 3 MoUs were signed in cloud data, digital empowerment, higher education, scientific research, innovation and vocational training, in addition to the signing of an executive programme in historical documentation and document and archive management.

GERMANY

Last July, His Majesty the Sultan travelled to the Federal Republic of Germany on an official visit that lasted three days.

BAHRAIN

During a visit to the brotherly Kingdom of Bahrain, His Majesty the Sultan’s delegation witnessed the signing of 6 cooperation agreements, which included: maritime transport and ports, security, the establishment of an Omani-Bahraini investment holding company, cloud computing, sea and air freight services, and studies and research. In addition, 8 executive programmes were signed in bilateral relations and common interest, agriculture, livestock and fisheries, tourism, young national cadres, education and education, environmental protection, heritage and culture, and remote trading of brokerage companies through the electronic trading system.