Oman is keen to welcome MSME setups and it is easy to open a business in Oman, according to K Nandakumar, chairman, CII Western Region. He made this observation while highlighting the business opportunities in Oman in his inaugural speech at Oman-India Matchmaking Meet 2015, which was held here on Wednesday.
As part of the programme, a visit by a delegation comprising representatives from various trade bodies from Oman, to the island city, was arranged by Confederation of Indian Industry (CII) and Ithraa, the public authority for investment promotion and export development in Oman, the organisers.
On the occasion, Nandakumar spoke about the investment opportunities in Oman. He stated, “The Oman government is presently stressing on development module to trigger business areas of indistrialisation, creating Oman as a logistics hub and encouraging tourism.”
He added, “Oman is keen to welcome MSME setups as small businesses can bolster in the encouraging land of business as it is easy to open a business in Oman.”
Among the presentations made by the delegates, Haura Saud Al Wahaibi, director, follow up and investment environment development department, Ithraa, Oman, made an impact by highlighting on facilities being extended to those opting to do business in Oman. She stated, "Though India has mega food parks with wider opportunities, we have made it easier for manufacturing set up. With facilities like incentives, connectivity, good infrastructure, double taxation, we are offering Indian delegation a very smooth business process.”
She was followed by Taleb Saif Al Makhmari, director, export facilities department, Ithraa, who made a presentation on “Investment opportunities in Oman and how geography of the country supports them.” He pointed out,“There are many industrial estates which we have planned and these areas offer a great opportunity for many businesses like petrochemicals, food and food processing and plastic manufacturing specially as every packaging unit requires plastic, thus, it is a flourishing industry today. We also have ports linked to the development module which will give a huge opportunity to such businesses to prosper.”
Offering further details on the export ties her country had with India, Nasima Yahya Zirook Al Balushi, director-general, export development, Oman, said, “The exports to India fell in the year 2014 which accounted to 380 million Omani Rials. Thus this is an initiative to bridge a healthy relationship between two countries.”
She added, “We have around 130 countries where we export. This will be a benefit to ones who invest in Oman. We have sectors like logistics, plastics, food processing and petrochemicals where there are many opportunities to invest.”
Further to the Mumbai meet, an Investment meet will be held on October 12-13, 2015, in Oman’s capital Muscat. The event has been designed specifically to increase trade and investment links between Oman and India.
