MUSCAT: The Oman Boat Show – a first-of-its-kind exhibition in the Sultanate of Oman, started at Al Mouj Muscat on Wednesday with the support of the Ministry of Transport, Communications and Information Technology, Ministry of Heritage and Tourism, and a number of private sector players. More than 35 local and international companies, specialising in the maintenance and sale of boats, are taking part in the 4-day show, which ends tomorrow, Saturday, March 18, 2023.
The exhibition aims to promote marine awareness and highlight the significance of the marine industry in stimulating economic activity at regional and global levels. As the first of its kind in the Sultanate of Oman, the event is expected to attract foreign investment in the tourism industry and will continue over the next few years to promote the growth of the sector.
The Oman Boat Show showcases the largest collection of luxury boats, and related accessories, along with various companies in the marine navigation, insurance and finance sectors from both inside and outside the country. On the sidelines, a number of activities and events, including cruises around Al Mouj Marina, are planned Speaking to the Observer, Koussay Issa, Executive Director of the Oman Boat Show, said: “To further expand the marine industry and luxury boat sector, the Oman Boat Show is being organized for the first time in partnership with the Ministry of Transport and private sector partners.
“Importantly over the past decade, the number of Omani boat or yacht owners has increased significantly, with approximately 70 per cent of Omanis owning these vessels; this increase in ownership is not limited to Omani nationals but also includes foreigners.” Issa said the event will be organised annually to support the growth of the industry. “Bank of Beirut is collaborating to provide financing options to SMEs if they interested for boat ownership, with facilities of up to RO 200,000 being made available in less than 72 hours on favourable terms and conditions,” he said.
Additionally, an Indian company specializing in manufacturing copper metal spare parts will open in Oman, becoming the first of its kind in the country. “Currently, most spare parts for boats come from neighbouring countries, and suppliers mostly offer used parts since new parts are not readily available in Oman. “Moreover, this initiative also aligns with Oman's Vision 2040 to support the economy, promote tourism and attract foreign investment for accelerated economic growth.” “Further, in cooperation with some of the participating companies, you can rent a boat with an annual contract and enjoy it any time you want, as if you own it throughout the contract period without incurring purchase costs,” Issa added.
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