More than 20 nations participated in the Sohar Investment Forum 2024, which was organized by the Oman Chamber of Commerce and Industry branch in the Governorate of North Al Batinah.
The inaugural event was graced by HH Sayyid Fahr bin Fatik Al Said, with the attendance of members of the Royal Family, government officials, private sector delegates, businessmen, and investors.
Governor Mohammed bin Suleiman Al Kindi of North Al Batinah highlighted the various investment incentives available in the governorate, emphasizing that it contributes 16 percent to Oman's non-oil GDP, valued at around OMR4.3 billion.
Al Kindi mentioned that the governorate's GDP experienced a growth of 16.3 percent from 2021 to 2022, with the services sector leading at over OMR2.65 billion, followed by the industrial sector at OMR1.5 billion, and the agricultural sector at OMR165 million.
Undersecretary Ibtisam Ahmed Al Farooji from the Ministry of Commerce, Industry, and Investment Promotion for Investment Promotion stressed the importance of attracting both local and foreign investments to enhance the local economy. She highlighted the Ministry's commitment to simplifying procedures and supporting economic growth through investments.
During the conference, a total of 14 agreements were finalized, with six of them being signed by Madayn with investors for the implementation of industrial projects amounting to OMR17.85 million.
Among these agreements was a significant deal worth $225 million with Sanvira Carbon company, focusing on establishing a ready-made anode manufacturing unit at Sohar Free Zone with a capacity of 300,000 cubic meters. Additionally, the Ministry of Housing and Urban Planning signed seven agreements for leasing usufruct lands, totaling an investment value of approximately OMR1,754,000.
A roadshow held concurrently with the conference highlighted the services offered by various government and private entities in the investment sector.
