Muscat: A historic occasion celebrating the dawn of a new era in business leadership in Oman, the Times of Oman and Muscat Media Group organized their yearly Business Leadership Summit at The St. Regis Al Mouj Muscat on Wednesday, to honor eighteen of the country's most influential leaders and organizations.
Taking place under the theme “Redefining Leadership for Business Excellence,” the summit brought together top executives, government representatives, and innovators who are driving Oman towards its Vision 2040 objectives.
The event paid tribute to leaders and organizations whose dedication to resilience, innovation, and sustainable development is redefining excellence in various sectors, setting a benchmark for Oman's rising generation of business leaders.
His Excellency Qais Al Yousef, Minister of Commerce, Industry, and Investment Promotion, was the chief guest and presented the prestigious Times Business Leadership Awards.
Greeting the participants, Mohammed Issa Al Zadjali, Chairman of Muscat Media Group (MMG), kicked off the summit by stressing the significance of a unified commitment to Oman’s Vision 2040.
“As we gather here today,” Al Zadjali stated, “let us remember the guiding principles established by His Majesty Sultan Haitham bin Tarik. His vision motivates us to chase innovation, sustainability, and inclusive growth, ensuring Oman's competitiveness on the international stage.”
He urged leaders to contribute to the development of resilient business models, nurture local talent, and bolster small and medium enterprises (SMEs) as the foundation of economic expansion.
The summit was graced by the presence of Qais Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion, underscoring the need for cooperation between the public and private sectors to achieve national objectives.
Additionally, Ahmed Essa Al Zedjali, the Chief Executive Officer of MMG, and other distinguished guests were in attendance at the lavish event.
The keynote speech was delivered by Mohammed bin Mahfoodh Alardhi, Executive Chairman of Investcorp and Chairman of the Muscat Stock Exchange.
Alardhi drew from his personal odyssey from his early years in Oman to his role as the head of a worldwide investment company, tracing a route marked by perseverance and flexibility.
"Leadership is a voyage, and every voyage starts," he mused, recalling his early years in Oman, a period when the country was just starting to engage with the international community.
As he looked back on his development - both personally and in his career - Alardhi talked about the significant impact of the late Sultan Qaboos bin Said, whose leadership principles of accountability, modesty, and commitment influenced his own method.
"Real leadership is about maintaining your direction when the journey is unclear, adapting to obstacles, and motivating others to follow suit," he highlighted, pointing out that today's business leaders in Oman must navigate a more intricate environment.
Alardhi recognized the changing political landscape of the Middle East, which demands agility and resilience, especially for Gulf countries heavily involved in energy and infrastructure.
He encouraged leaders to confront these challenges directly, noting Oman's dedication to diversifying its economy as a key defense against worldwide volatility.
Throughout his career, Alardhi's time in the Royal Air Force of Oman (RAFO), where he climbed to the rank of Air Vice Marshal, imparted essential lessons in discipline, concentration, and collaboration.
He spoke of instances flying fighter jets where maintaining composure under stress and trust in his team were crucial.
"Whether in the cockpit or the boardroom, leadership demands your presence, your ability to listen, and to equip your team with the means and environment to grow and contribute to something beyond themselves," Alardhi stated, who was both the youngest and the longest-serving chief of the air force in Oman.
Alardhi shared that these core principles have been essential to Investcorp's ability to withstand economic changes, the COVID-19 pandemic, and periods of high-interest rates.
He emphasized the importance of focusing on innovation and flexibility. He mentioned that leaders in Oman's future must adopt new technologies like artificial intelligence (AI) and automation to stay ahead, but also highlighted that "technology's effectiveness depends on the people who operate it."
He argued that leadership is about enabling individuals to think creatively and purposefully - traits that Oman's young entrepreneurs and professionals possess, contributing to the country's economic and cultural advancement.
The summit's most memorable moment was the celebration of eighteen leaders and organizations from various sectors who received recognition for their significant contributions to Oman's progress.
Al Zadjali praised their accomplishments, stating that "the excellence, integrity, and dedication shown by these leaders and organizations are the standard by which we should all aspire."
The recipients spanned industries from technology and finance to healthcare and environmental conservation, demonstrating Oman's advancement and the role of its leaders in fostering innovation, resilience, and societal impact.
Al Zadjali ended his speech by expressing his thanks to the summit's sponsors, partners, and participants whose backing made the event a success.
"Today's discussions," he pointed out, "are a reflection of our collective dedication to making Oman a desirable and welcoming place for everyone."
As a driving force for change, the Business Leadership Summit showcased the pivotal role of leadership in Oman's path to prosperity and innovation, inspiring present and future leaders to redefine what it means to excel in their quest for national development and international competitiveness.
Additionally, Al Ardhi was presented with a copy of his latest book, “Connecting to the Future,” which has reached the status of a bestseller in the US and acts as a detailed guide for creating a forward-thinking strategy for dynamic company expansion and significant achievement.
A festivity honoring Oman's top business minds and creators
* OQEP was honored with the IPO of the Year award for its successful public debut.
* National Biscuit Industries took the crown as Snacks Food Manufacturing Company of the Year, while Marafiq was recognized as Utilities Company of the Year for its pivotal role in enhancing Oman's utility infrastructure.
* In the Bottled Water Manufacturing sector, Oman Oasis Water Company was praised for its high-quality standards.
* Malabar Gold & Diamonds was celebrated as the Jewellery Retail Chain of the Year, acknowledging its significant contribution to luxury and craftsmanship.
* The National Detergent Company was awarded Company of the Year – FMCG for its dedication to excellence and innovation, while Mohsin Haider Darwish LLC (Jetour) was honored as Company of the Year – Automotive for its achievements in the automotive industry.
* The Oil & Gas Company of the Year award was given to Integrated Gas Company for its significant contributions to the energy sector, while Bank Muscat received the Company of the Year – Banking award for its outstanding services and customer satisfaction.
* In the SME of the Year category, Othman Al Mandhari, Founder & CEO of InnoTech, was celebrated for his remarkable contributions to innovation and entrepreneurship. The Entrepreneur of the Year award went to Abdullah Al Shaksy, Co-Founder & CEO of Phaze Ventures, for his vision in driving industry advancement.
* Leadership honors were bestowed upon executives excelling in their respective fields: Eng. Maqbool Al Wahaibi, CEO of Oman Data Park, was recognized as Business Leader of the Year – Digital Transformation for his groundbreaking work in technology; Miron Kibria, CFO of Oman of Liva Insurance, received Business Leader of the Year – Insurance; Aisha Al Kharusi, Deputy Executive Chairperson of Modern College of Business and Science, was honored as Business Leader of the Year – Education. Nasser Al Sheibani, CEO of Al Mouj Muscat, won Business Leader of the Year – Luxury Real Estate, while Haitham Salim Al Salmi, CEO of Muscat Stock Exchange, was named Business Leader of the Year – Capital Markets.
* Celebrating the next generation of leaders, Mohsin Hani Bahrani, CEO of MHD ACERE, was awarded Young Business Leader of the Year for his leadership in a competitive and evolving market.
* And the esteemed “Business Leader of the Year” award was given to Mohammed Mahfoodh Alardhi, Executive Chairman of Investcorp, for his significant contributions to Oman’s business environment and commitment to global investment leadership.
