Oman joins World Association of Investment Promotion Agencies
The Sultanate of Oman has joined the World Association of Investment Promotion Agencies (WAIPA), as part of the drive under Oman Vision 2040, to attract investments.
This was announced during a meeting at WAIPA's headquarters in Geneva between Ambassador Idris bin Abdulrahman Alkhanjari, Oman's Permanent Representative to the United Nations and international organisations in Geneva, and Ismail Erşahin, Executive Director of WAIPA.
During the event, organised by Oman’s Permanent Mission in Geneva, discussions were held on ways to coordinate cooperation for promoting investment in Oman and how the Sultanate can benefit from WAIPA's services and partners.
The meeting also discussed the possibility of Oman hosting the World Investment Conference in 2025.
Ambassador Alkhanjari said that Oman’s accession to the WAIPA is an important event that reflects Oman Vision 2040’s goal of attracting investments. He added that this highlights the efforts made in this regard, which include modernising the foreign investment system.
He noted that the main objective of joining WAIPA and other economic organisations in Geneva is to open Oman to global markets.
He added that Oman offers a favourable business environment, including its strategic location, proximity to key global markets and world-class infrastructure, such as ports and free and industrial zones, making it an attractive destination for investments.
The Executive Director of WAIPA congratulated Oman on joining the Association, which is a non-governmental organisation governed by Swiss law. It was established in 1995 by the United Nations Conference on Trade and Development (UNCTAD) and 50 other investment promotion agencies.
WAIPA collaborates with investment promotion agencies, academic institutions, the private sector and other international organisations, such as the International Chamber of Commerce, the International Economic Development Council, the International Labour Organisation, the Organisation for Economic Cooperation and Development, the United Nations Industrial Development Organization, the World Tourism Organisation and the World Bank.
The Executive Director highlighted that WAIPA's main objective is to enhance the capabilities of its members to attract quality investments to their countries and to promote communication between investment promotion agencies by exchanging views and best practices, whether in the public or private sectors.
He added that WAIPA is unique in its mission and the services it provides to its members, offering numerous activities such as training sessions.
He expressed his pleasure at Oman's proposal to host the World Investment Conference in 2025, which will provide an opportunity to strengthen cooperation with Oman. He affirmed that WAIPA is ready to offer all the support Oman needs to host this event.
The event was attended by Sheikh Faisal bin Ali bin Zahir Al Hinai, Director of Oman’s Office to the World Trade Organisation, along with officials from WAIPA in Geneva.