‘Advantage Oman Forum' takes place in Muscat

The first Advantage Oman Forum took place at the St Regis Al Mouj Resort in Muscat, under the patronage of His Highness Sayyid Shihab bin Tariq Al Said, Deputy Prime Minister for Defence Affairs.

The two day international investment forum was organised by the Ministry of Commerce, Industry and Investment Promotion (MCIIP).

The event brought together more than 250 senior officials, decision-makers and regional and international investors and focused on Oman as a promising investment destination.

Qais bin Mohammed Al Yousef, Minister of Commerce, Industry & Investment Promotion, said in his opening speech that the international investment forum is the first of its kind in the Sultanate of Oman.

He described it as a strategic event that attracts leading decision makers and investors from various countries in promising sectors.

The Minister also said that the forum reflects the remarkable  growth Oman has experienced across economic and investment areas. and that this growth is supported by rising international indicators.

The Minister added that the timing of the forum coincides with a period of growing momentum in Oman’s economic and investment sectors.

Oman saw a 16.2% increase in foreign direct investment inflows in the third quarter of 2024 compared with the same period in 2023. Standard & Poor’s raised Oman’s credit rating to BBB- with a stable outlook.

The Minister said that GDP is expected to grow by 3.4 per cent this year. He added that this will outperform many economies worldwide, reflecting the national economy’s resilience and global market confidence.

The forum’s first day featured five main sessions. They addressed the most prominent global economic trends.

The second day included panel discussions with decision makers and specialist roundtable sessions on priority sectors such as tourism, logistics, mining, food security, renewable energy and information technology.

His Highness Sayyid Shihab toured the exhibition held alongside the forum, in which Government bodies and private sector organisations took part.

The Advantage Oman Forum opened channels of communication with investors, forged strategic relationships and included the signing of new investment partnerships.