MUSCAT: The Oman Chamber of Commerce and Industry (OCCI) and the Bahrain Chamber of Commerce and Industry convened in Muscat yesterday to finalise the establishment of the 'Oman and Bahrain Investment Company.' This joint venture aims to foster and develop projects in collaboration with the private sectors of both countries.
The meeting focused on formalising the registration and announcement process in line with regulations set by the relevant authorities, while also exploring promising investment opportunities. Priority sectors identified include food security and logistics, with initial projects slated for Oman.
Key discussions centered around high-potential sectors that align with the strategic development goals of both nations, particularly in empowering the private sector. The chambers also outlined procedures for conducting feasibility studies to assess market opportunities.
Accelerating the next steps was emphasized to ensure the company can commence operations promptly. Both sides highlighted the role of the private sector in contributing to the company’s growth after its launch.
The meeting also featured presentations on lucrative investment opportunities in the food security sector, as well as promising ventures listed on the Muscat Stock Exchange.
With an issued capital of RO 10 million, the Oman and Bahrain Investment Company seeks to enhance trade and investment flows between the two countries, focusing on food security and logistics. Bahrain remains a key trading partner for Oman, with bilateral trade reaching RO 95.5 million by June 2024. — ONA
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