German delegation explores investment opportunities in Oman

Muscat: A Federal Republic Germany delegation’s visit to the Sultanate of Oman exploring investment opportunities. The trade delegation accompanies by Dr. Robert Habeck, Vice Chancellor of Germany . Such visits are part of the first executive plan for Oman Vision 2040 (the tenth five-year plan 2021-2025) adopted several strategic programs that enshrine the concept of economic diplomacy, including the “Raising the Contribution of Foreign Trade to Economic Activity” program, which aims to activate the role of embassies and commercial representation offices. In marketing the Sultanate of Oman and attracting investments.

Maitha bint Saif Al Mahrouqiyya, Ambassador of the Sultanate of Oman to the Federal Republic of Germany, explained that the visit of His Excellency Dr. Robert Habeck, Vice Chancellor and Minister of Economic Affairs and Climate Action of Germany, and the trade delegation accompanying him comes in accordance with the plan of the Embassy of the Sultanate of Oman in Berlin and the Ministry of Foreign Affairs, to learn about the investment opportunities available in The various economic sectors targeted in Oman Vision 2040, expressing her hope that such visits will culminate in the signing of agreements and contracts that would revitalize the Omani economy.

She said that the visit of the official and the trade delegation accompanying him came with the aim of searching for new markets and entering into commercial partnerships, especially in the sectors of renewable energy, gas, logistical transport and food security. She indicated that most of the topics discussed during the meeting with the Omani officials revolved around the investment climate in the Sultanate of Oman and the incentives offered, as well as the search for new markets for gas and the possibility of importing Omani gas in larger quantities, especially with the gas crisis and the rise in its prices in Europe in general and Germany in particular as a result. The Russian-Ukrainian situation, noting that a German company concluded an agreement two months ago with the Omani Liquefied Natural Gas Company to supply gas to Germany.

She indicated that the role of the Embassy of the Sultanate of Oman in Berlin is to build bridges of communication between all sectors and provide the Omani and German investors with all information related to investment and investment opportunities available in the sectors in both countries, stressing that she has recently noticed an increase in the numbers of Omani investors and Omani companies to Germany, to participate in Conferences and exhibitions.

She also also indicated that the volume of German investments in the Sultanate of Oman, according to statistics issued by the National Center for Statistics and Information, amounted to more than 10 million Omani riyals in 2022, while the volume of trade exchange between the two countries at the end of November 2023 reached 257.5 million Omani riyals, as the volume of exports reached Omani to Germany 25.8 million Omani riyals.

Regarding the tourism sector, Her Excellency Maitha bint Saif Al Mahrouqiyya explained that the Sultanate of Oman will be the official partner of the largest travel and tourism exhibition in the world in Berlin for this year 2024, which is scheduled to be held at the beginning of next March. It is expected that 64 companies representing the travel and tourism sector in the Sultanate of Oman will attend.