Leaders from the United Arab Emirates (UAE) are looking to establish impactful ventures in Oman, aiming to usher in a new chapter of economic collaboration between the two Gulf nations. This news comes on the heels of the UAE-Oman Business Forum, a platform designed to foster stronger business ties.
Abdulla Mohamed Al Mazrui, Chairman of the Federation of UAE Chambers of Commerce and Industry (UAE Chambers), highlighted the significant presence of Emirati companies at the forum. These businesses, Al Mazrui emphasized, are eager to spearhead impactful projects within the Sultanate of Oman.
This enthusiasm stems from Oman's flourishing investment environment, which Al Mazrui described as highly conducive for attracting capital and facilitating business expansion for companies from both countries. The UAE currently holds the distinction of being the leading foreign investor in Oman, ranking third globally in terms of total investment in the Sultanate.
Al Mazrui elaborated on existing collaborations between the UAE and Oman, citing agreements focused on renewable energy, aluminium, iron production, and various initiatives within Oman's free zones. He expressed confidence that these ventures will propel both nations towards significant economic achievements.
The UAE's established expertise across diverse economic sectors, particularly in infrastructure and transportation, was another point emphasized by Al Mazrui. The Business Forum, he suggested, presents a valuable opportunity for Omani businesses to leverage this expertise and benefit from knowledge transfer. Oman's commitment to fostering comprehensive economic development, through various incentive programs, further strengthens the appeal of this partnership.
This renewed focus on economic collaboration between the UAE and Oman signifies a promising step towards a more integrated Gulf region. The UAE's business acumen, coupled with Oman's strategic location and economic potential, has the potential to unlock significant growth opportunities for both nations. The success of the UAE-Oman Business Forum, in bringing together key players from both sides, paves the way for a future characterized by stronger economic partnerships and shared prosperity.