Oman-India Investment Webinar discusses opportunities available in Duqm
July 28, 2020
Yahya Al Jabri: SEZAD continues its dialogue with overseas partners to attract investments to the Zone.
His Excellency Yahya bin Said Al Jabri, Chairman of the Special Economic Zone Authority at Duqm (SEZAD), affirmed that investments from various countries worldwide are welcomed in the Zone. In this regard, Al Jabri stressed on SEZAD’s ongoing efforts accorded towards promoting investment opportunities available in the Special Economic Zone at Duqm (SEZD) through the participation in different virtual webinars and conferences.
In his opening speech during the Webinar, His Excellency Al Jabri stated, “We continue our dialogue with our overseas partners and clients to attract investments to the Special Economic Zone at Duqm”.
Al Jabri commended the commercial and investment cooperation between the Sultanate and India and the historical relations between the two nations, explaining that trade between both countries flourished under the leadership of the late Sultan Qaboos bin Said in a number of areas, most notably are healthcare, agriculture and trade. “The total Indian investments registered in Oman in 2019 reached about RO 275 million, approximately 53 billion Rupees” He remarked.
The Chairman of SEZAD confirmed that under the wise leadership of His Majesty Sultan Haitham bin Tarik, SEZAD will continue to promote the investment opportunities and cement the ties with different countries around the world. He further explained, “I strongly believe that there are a number of opportunities, which our Indian counterparts can potentially leverage on within the Special Economic Zone at Duqm. I am confident that this event will serve as a platform for the ongoing business relationship between our two nations, as it is indeed a long standing relationship with interrelated interests and mutual friendship”.
The Webinar discussed enhancing trade and investment cooperation between India and the Special Economic Zone at Duqm. In view of that, HE Shri Munu Mahawar, Ambassador of India in the Sultanate, pointed out, “The Special Economic Zone at Duqm enjoys a number of investment characteristics and I’ve seen the remarkable growth and development in the Zone during my visit. The Sultanate is taking a serious endeavor to establish giant projects in Duqm and the infrastructure is great”.
HE the Ambassador expressed his personal appreciation to all the opportunities presented by the Special Economic Zone at Duqm to Indian investors. Likewise, he praised the interest of Indians to start their investments in the Sultante in general and Duqm in particular.
Speaking on the occasion, Azzan Al Busaidi, CEO of the Public Authority for Investment Promotion and Export Development (Ithraa), touched on the incentives that the Sultanate offers to investors from various countries all around the world, praising the recent amendments made to the investment laws in the Sultanate, which came in line with the aspirations of investors.
During his presentation, Saleh bin Hamood Al Hasni, Deputy CEO of the Special Economic Zone Authority at Duqm, noted that there is a wide range of promising investment opportunities in Duqm targeting different economic sectors such as industry, tourism, trade, real estate development, fishing industries and logistical services. He also shed light on the benefits provided by SEZAD to investors, the high potentials and its strategic location of the Zone in the international shipping lines as well as its proximity to India and how easily it could be connected with many Indian ports and airports.
Eng. Hashim Al Ibrahim, the Business Support Director at the Port of Duqm Company, conducted a presentation, in which, he highlighted the company’s efforts to attract international shipping lines and provide them with the necessary facilities. As well, he presented the capabilities of the Port, especially post completing the commercial berth, which is capable to receive different types of ships and introduces 4 stations; two container terminals, another station for dry bulk cargos and the multi-purpose station.
On the other side, Ahmed Al Shueili, Director of Marketing at Oman Drydock Company, confirmed the readiness of the drydock in Duqm to provide repair services for all types of ships. He explained that during the past years, Oman Drydock Company was able to compete in this business locally and internationally and gained the confidence of its clients of local and international shipping companies.
In addition, Pradeep Nair, CEO of Sebacic Oman, showcased his experience of investing in the Special Economic Zone at Duqm and the facilities provided by SEZAD to investors, praising the rapid growth taking place in Duqm.
The virtual Oman-India Investment Webinar saw the participation of about 300 participants from the Sultanate and India. Throughout the different sessions, the participants expressed their appreciation for the infrastructure of the Special Economic Zone at Duqm and the diversity of its investment fields, stressing that the investment opportunities in the Zone are very promising and rewarding.