Oman showcases investment opportunities at St. Petersburg Economic Forum

The Sultanate of Oman, represented by the Ministry of Commerce, Industry, and Investment Promotion and the Oman Chamber of Commerce and Industry, along with several public and private sector institutions, showcased the Sultanate's business environment and wide-ranging  investment opportunities in key sectors at the St. Petersburg International Economic Forum. Oman was a guest of honour at this, the 27th edition of the Forum.

Oman also took part in an exhibition at the Forum with the aim of opening new markets for Omani exports and to enhance economic and trade relations with countries from around the world.

Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, headed the Omani delegation. In his speech to the Forum he emphasised Oman's commitment, in both government bodies and the private sector, to discussing all areas of economic cooperation and opening up new areas for trade and investment.

He spoke of Oman's keeness to benefit from its participation as a guest of honour to achieve various strategic economic goals and to help boost trade, focusing on Oman's unique competitive advantages that make it an attractive destination for trade and investment.

Hamood bin Salim bin Abdullah Altowaiya, Oman's Ambassador to Russia, told the Forum that Oman's participation forms part of its strategy to strengthen economic ties and promote Oman as an investment destination. He noted that the Forum is one of the most prominent platforms for international economic and trade dialogue, with more than 130 countries taking part from around the world.

Faisal Abdullah Al Rowas, Chairman of the Oman Chamber of Commerce and Industry, also spoke at the Forum, highlighting that the Sultanate's participation represents an opportunity for the Omani private sector to open up markets for Omani products and build partnerships in the Russian Federation and other participating countries.

He explained that the Chamber is focused on showcasing Oman's private sector and the promising opportunities it offers, and explaining how these are supported by numerous incentives and initiatives. He said that there are cooperation opportunities with Russia in various sectors, including food security, technology and petrochemicals, as well as the Russian tourism market.

On the sidelines of the main Forum, an Omani-Russian Forum was organised to promote the investment and trade environment in Oman. There were also direct bilateral meetings between Omani and Russian companies.

An Omani company signed a Memorandum of Understanding to enhance cooperation in the legal field and improve legal practices to support Omani and Russian companies. Another Omani company, specialising in information security, signed a Memorandum of Understanding with a Russian company to build joint capacities in cybersecurity and improve local workforce efficiency in this field.

Representatives from Omani Government bodies took part in panel discussions and dialogue sessions held on the sidelines of the main Forum. These included a session on the importance of the financial sector in supporting strategic partnerships, a session on the logistics sector and enhancing trade routes and corridors, and a session discussing the importance of developing sustainable cities.

As part of the “Oman Hall” initiative, an Omani evening was organised by Oman's National Museum in partnership with Russia's State Hermitage Museum to highlight Oman's rich history and shared ties with the Russian Federation.

This is an unofficial English version of an Arabic report. To view the official Arabic text, click here.