Oman invites Pakistanis to invest in its core five sectors

Oman invest

Pakistan has been welcomed to invest in core five sectors of Oman, i.e., mining, logistics, tourism, food security and industrial growth.

During the visit of Oman Chamber of Commerce and Industry (OCCI) chairman Redha Jumma Mohammad Ali-Al Saleh in Karachi Chamber of Commerce and Industry (KCCI), he offered Pakistan that his country is working in five sectors and Pakistan can join it in these areas.

Mr Saleh further said that Oman has also opened a road to Saudi Arabia which has substantially reduced the distance, cost and time hence, Oman can become a hub for export to Saudi Arabia, Iraq, Syria and GCC countries, he added.

He added that Oman is open for foreign investment as under the new rules and the investors can now invest 100 percent capital with no need for having a local partner.

Read more: Pakistan pursuing preferential trade deals with Saudi Arabia, Oman, UAE

“Oman has free zones where no tax is applicable on production for exports while incentives are also being offered to new investors who can start businesses in a stable economic, social and political environment with availability of advanced infrastructure facilities and other benefits including tax exemptions on equipment for establishing industrial projects,” the OCCI chairman said.

Moreover, he admitted that getting Omani visa was not an easy task, however, Omani Embassy in Pakistan along with the OCCI was working hard towards making it easier. He said that Oman was ready to facilitate any Pakistani businessman in getting a visa with a view to make your visit easier.

He also made noted that in spite of good relations, trade volume has become lower that stood at $655 million before pandemic but it has come down to $250 million now.

Meanwhile, Chairman BMG Zubair Motiwala said the regional cooperation and regional connectivity is the biggest booster for trade, “We have to supplement and complement each other by sharing the expertise and undertaking joint ventures.” he added.

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