Forum concludes with strong focus on North Al Batinah’s investment potential

SUHAR, FEB 27

The two-day Suhar Investment Forum – spotlighting RO 1 billion worth of opportunities in North Al Batinah Governorate - concluded yesterday, February 27, 2024.

The event, organised by the North Al Batinah Branch of the Oman Chamber of Commerce and Industry (OCCI), focused on the promising investment potential of a region that currently contributes about 16% per cent of the country’s non-oil GDP.

Speaking at the event, Eng Mohammed bin Saeid al Masrouri, General Supervisor of the Business Environment Sector, Oman Vision 2040 Implementation Follow-Up Unit, highlighted the significance of economic diversification.

“Diversification is a very integral part of economic growth in Oman. We have witnessed a good and positive indicator in the economy so far in terms of investments. We are hoping to foster the growth of a diversified economy combining technology, innovation and knowledge. We are working to achieve this goal to be a strong and diverse economy according to Vision 2040.” Mohammed bin Sulaiman al Kindi, Governor of North Al Batinah, shared that the services sector surpassed $6.88 billion, the industrial sector reached $3.9 billion, and the agricultural sector amounted to $428 million in the governorate over the past two years. He also mentioned that the region's investment value exceeds $27 billion.

Khalid al Shuaibi, President, Oman National Investment Program & Export Development (Nazdaher), emphasized the simplicity of the investment process in Oman.

“When a strategic investor comes to Oman, they need to have a focal point in the investments and strategies for investments. There is a guidebook for Investors available in different languages to understand the framework in Oman. Nazdaher is currently estimated at RO 39 million. Nazdaher is a unified platform for investors that provides them all the solutions to their queries and challenges regarding investments in Oman."

The second day of the forum included keynote speeches, several presentations and two panel discussions highlighting the potential investment opportunities in Suhar. Several agreements were signed on the first day.