MUSCAT: Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, on Monday received the ministers of the Republic of Tanzania and the Government of Zanzibar to discuss ways of enhancing areas of cooperation between the two friendly countries in the commercial, industrial and investment sectors.
The two sides reviewed inter-trade indicators and ways to boost it and augment trade exchange and investments. They stressed the need to move forward in cooperation between the two countries which has seen a 23 per cent increase in the number of Tanzanian companies registered in the Sultanate of Oman and a 13.5 per cent increase in investment over the past two years.
The Omani side reviewed the Oman Vision 2040 and the most important economic sectors targeted to attract investment namely mining, tourism, manufacturing industries, food security and logistics. They briefed their guests about the positive economic indicators the Sultanate of Oman has achieved as the ratio of public debt to GDP decreased from 70 per cent to 35 per cent and the improvement in the credit rating of the Sultanate of Oman to Ba1 according to Moody’s Ratings.
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