Muscat, 13 Sep (ONA) – Oman Chamber of Commerce and Industry (OCCI) today organized a meeting with the visiting Austrian delegation on ways of upgrading economic cooperation and establishing joint investments. The meeting marked the start of partnerships that will benefit both sides.

Held at the premises of the OCCI here, the meeting was part of the programme of an Austrian delegation currently visiting the Sultanate under the leadership of Alexander Schallenberg, Federal Minister for European and International Affairs, Austria.

The meeting was attended by Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, the Austrian minister, Eng. Ridha Jumaa Al Saleh, Board Chairman of OCCI, and members of the OCCI and the visiting delegation.

 

Eng. Ridha said that “The meeting discusses means of fostering bilateral cooperation and discussing the mechanisms of activating economic cooperation and investment. This visit constitutes a starting point for the establishment of fruitful partnerships benefiting both sides,” said Eng. Ridha.

He added that the OCCI is keen that this visit would yield new partnerships between business persons in the Sultanate and their Austrian counterparts.

Statistics show that imports from Austria to the Sultanate stood at more than $444,000 during 2019 while Omani exports to Austria in the same year crossed the $3.56 million mark.

“Today’s meeting seeks to raise the rates of commercial exchange between the two countries, besides forging business partnerships in various economic spheres and concluding a set of cooperation agreements,” said Eng. Ridha.

Alexander Schallenberg said that such meetings help cementing cooperation and contributing to the creation of joint investment projects benefiting from readily available resources and incentives offered by both countries to the business community.

 “We have the expertise and enablers to activate economic ties and raise the rates of commercial exchange,” said Schallenberg. 

Echoing a similar view, Al Yousef said, “The meeting aims to generate joint ventures and activate ties of cooperation between the two countries.”

A visual display titled “Trade and Investment in the Sultanate” was presented by Naseema Yahya Al Balushi, Director-General of Investment Promotion at the Ministry of Commerce, Industry and Investment Promotion.

The presentation highlighted the attractive investment climate in the Sultanate and the encouraging incentives offered to investors, including the freedom to transfer funds abroad, as much as 100% ownership of business projects, transparency of laws and regulations and other privileges and advantages.

During the screen of the documentary, Naseema laid emphasis on Oman Vision 2040 and outlined investment sectors that the vision targets. 

—- Ends/AB/KH