Latest news with #AdvantageOmanForum
Observer
03-05-2025
- Business
- Observer
Oman and Tanzania deepen trade ties at Advantage Oman Forum
MUSCAT: Oman and Tanzania have reaffirmed their longstanding friendship and laid the groundwork for deeper trade and economic collaboration during a key meeting held on the sidelines of the Advantage Oman Forum. Pankaj Khimji, Advisor for Foreign Trade and International Cooperation in Oman, met with the Permanent Secretary for Industry and Trade of Tanzania to explore new avenues for bilateral cooperation. The discussions reflected a shared vision to strengthen economic ties and build on centuries-old historical relations rooted in maritime trade and cultural exchange. 'The diverse resources and vibrant markets of Tanzania present a wealth of opportunities for Omani businesses. Together, we can unlock new avenues for growth that will benefit both nations,' said Khimji, expressing optimism about forging a joint framework for cooperation. The Tanzanian delegation voiced strong interest in enhancing trade with Oman, aligning with Muscat's strategic ambition to become a regional hub for trade and investment. Talks focused on several key sectors, including agriculture, tourism, and manufacturing—areas both sides see as engines for economic diversification and sustainable development. This meeting marks a new chapter in Oman-Tanzania relations, reflecting mutual respect and a commitment to shared prosperity. The Advantage Oman Forum once again showcased Oman's proactive approach to building global partnerships and opening new doors for economic collaboration.
Zawya
30-04-2025
- Business
- Zawya
Oman's waste recycling sector expands to 83 firms
MUSCAT: As many as 83 companies are currently engaged in waste recycling activities, underscoring the significant growth of the circular economy in Oman over the last several years, according to Dr Abdullah al Amri, Chairman – Environment Authority. Taking part in a panel discussion on Day 1 of the Advantage Oman Forum, he said the proliferation of commercially-driven recycling activities is a testament to the enactment of effective policies and regulations that have fostered the growth of this sector. 'Four years ago, new policies were introduced to encourage internal recycling within the Sultanate. Some facilities were also made available to investors. In the past four years, we have seen the successful establishment of 83 recycling plants, focusing on various materials including iron scrap, aluminum scrap, plastic, car parts, cardboard, paper, tyres, and others,' Dr Al Amri stated. Fuelled by the growth of this sector, around 43 per cent of municipal solid waste is now being recycled, according to the official. 'So we are on the right track! We expect to reach 60 per cent by 2030 and more than 90 per cent by 2040.' Sharing his thoughts on the growth of the country's circular economy, fellow panelist Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals, said the Oil & Gas sector is also getting its act together and dealing with oilfield waste in an environmentally responsible manner. Scrap steel and waste oil, for example, are now being recycled and processed in a sustainably approved way. 'With support from the Environment Authority and the Ministry of Commerce, we are now collecting all of that waste for reprocessing within the country, thereby supporting not only environmentally friendly processes, but also creating opportunities for new industry, new jobs, and so on,' he said. From the standpoint of decarbonisation, the Oil & Gas industry is also actively working to start collecting carbon emissions, notably from hard-to-abate industries, for sequestering in suitable locations. So CO2 capture and CO2 sequestration are now part of the circular economy,' Al Aufi added. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Zawya
30-04-2025
- Business
- Zawya
Sohar International participates as strategic partner at Advantage Oman Forum 2025
Muscat: Reaffirming its position as a catalyst for national progress and sustainable economic transformation, Sohar International participated as the Strategic Partner of the Advantage Oman Forum 2025 — an exclusive, high-level gathering held recently at the St. Regis Al Mouj Resort in Muscat. The two-day event was graced by the presence of His Highness Sayyid Shihab bin Tarik Al Said, Deputy Prime Minister for Defence Affairs, and was organized by the Ministry of Commerce, Industry, and Investment Promotion in collaboration with Invest Oman. The opening ceremony was attended by Mr. Abdulwahid Mohamed Al Murshidi, Chief Executive Officer of Sohar International, along with other members of the Bank's executive management team — further emphasizing the Bank's leadership presence and strategic involvement in national initiatives. Bringing together over 250 prominent figures, including senior officials, decision-makers, and regional and international investors, the forum underscored Oman's position as a promising investment destination. It convened a distinguished cohort of senior government representatives, global investors, and influential business leaders to explore Oman's dynamically evolving investment landscape and examine the global megatrends shaping the nation's future economic trajectory. By aligning with the Ministry of Commerce, Industry, and Investment Promotion, Sohar International underscores its commitment to advancing Oman's strategic vision and enhancing the country's global investment appeal. Mr. Abdulwahid Mohamed Al Murshidi, Chief Executive Officer of Sohar International remarked, 'Our involvement in the Advantage Oman Forum reflects Sohar International's deep-rooted belief in the power of strategic dialogue to influence real-world outcomes. While capital mobilizes projects, it is foresight, knowledge exchange, and collaborative ambition that turn visions into impact. These forums serve as catalysts for precisely that—bringing together change-makers, innovators, and decision-makers who are reimagining what's possible for Oman and the wider region. At Sohar International, we view our role not just as financial facilitators, but as active partners in the nation's economic evolution—championing fresh perspectives, incubating bold ideas, and creating the conditions for sustained, inclusive growth.' As part of its participation at the forum, Sohar International hosted a dedicated stall, offering an interactive platform to engage with stakeholders, investors, and delegates on the bank's latest initiatives, financial solutions, and strategic vision. Adding further depth to the bank's involvement, Mr. Abbas Al Lawati, Executive Vice President – Investment Banking, FIG, and International Operations at Sohar International, delivered a presentation titled 'Banking Beyond Lending' highlighting how the banking model is evolving from basic transactional services to globally integrated, tech-driven solutions — a shift that enables banks to diversify offerings, boost efficiency, and drive sustainable growth. As Oman continues to amplify its global investment appeal through world-class infrastructure, investor-friendly regulations, and a progressive development policy, Sohar International remains steadfast in supporting the nation's ambitions, advancing opportunities that create shared value for people, partners, and the economy at large. About Sohar International With the vision to become a world-class Omani services company that helps customers, community and people to prosper and grow, Sohar International operates with a purpose to help people 'win' by delivering responsive banking for their ever-changing world, complementing their growth and prosperity with international standard service delivery. The Bank seeks to redefine banking in Oman through transformational developments centred on the principles of More Velocity, making everything simple and fast; More Value, ensuring relevance and connectivity to customers' world; and More Vision, liberating stakeholders through talented leadership.
Zawya
30-04-2025
- Business
- Zawya
Oman and Tanzania: A New Chapter in Trade and Cooperation
Muscat: On the sidelines of the Advantage Oman Forum held during the past two days, His Excellency the Advisor of Foreign Trade and International Cooperation in the Sultanate of Oman engaged in fruitful discussions with His Excellency the Permanent Secretary for Industry and Trade of the Republic of Tanzania. This meeting not only underscored the enduring friendship between the two nations but also set the stage for a promising future for cooperation in trade. The historical ties between Oman and Tanzania stretch back centuries, rooted in a shared legacy of maritime trade and cultural exchange. Both Ministries aim to build a bridge of opportunity that not only enhances their economic landscapes but also deepens the bonds of friendship within the historical ties between the two nations. His Excellency Pankaj Khimji expressed his enthusiasm for the discussions, highlighting the potential for Oman and Tanzania to strengthen their economic partnership through a joint framework. 'The diverse resources and vibrant markets of Tanzania present a wealth of opportunities for Omani businesses. Together, we can unlock new avenues for growth that will benefit both nations.' stated His Excellency. The Tanzanian delegation echoed this sentiment, expressing a keen interest in enhancing trade ties with Oman. Their commitment to fostering collaboration aligns seamlessly with Oman's vision of becoming a regional hub for trade and investment. The discussions encompassed various sectors, including agriculture, tourism, and manufacturing, reflecting a shared ambition to diversify our economies and create sustainable growth. United by a common history and mutual respect, both parties are eager to embark on a journey of economic prosperity. The Advantage Oman Forum serves as a testament to Oman's commitment to fostering international partnerships and a promising start to the future of trade between Oman and the world. © Muscat Media Group Provided by SyndiGate Media Inc. (
Observer
29-04-2025
- Business
- Observer
Oman's waste recycling sector expands to 83 firms
MUSCAT: As many as 83 companies are currently engaged in waste recycling activities, underscoring the significant growth of the circular economy in Oman over the last several years, according to Dr Abdullah al Amri, Chairman – Environment Authority. Taking part in a panel discussion on Day 1 of the Advantage Oman Forum, he said the proliferation of commercially-driven recycling activities is a testament to the enactment of effective policies and regulations that have fostered the growth of this sector. 'Four years ago, new policies were introduced to encourage internal recycling within the Sultanate. Some facilities were also made available to investors. In the past four years, we have seen the successful establishment of 83 recycling plants, focusing on various materials including iron scrap, aluminum scrap, plastic, car parts, cardboard, paper, tyres, and others,' Dr Al Amri stated. Fuelled by the growth of this sector, around 43 per cent of municipal solid waste is now being recycled, according to the official. 'So we are on the right track! We expect to reach 60 per cent by 2030 and more than 90 per cent by 2040.' Sharing his thoughts on the growth of the country's circular economy, fellow panelist Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals, said the Oil & Gas sector is also getting its act together and dealing with oilfield waste in an environmentally responsible manner. Scrap steel and waste oil, for example, are now being recycled and processed in a sustainably approved way. 'With support from the Environment Authority and the Ministry of Commerce, we are now collecting all of that waste for reprocessing within the country, thereby supporting not only environmentally friendly processes, but also creating opportunities for new industry, new jobs, and so on,' he said. From the standpoint of decarbonisation, the Oil & Gas industry is also actively working to start collecting carbon emissions, notably from hard-to-abate industries, for sequestering in suitable locations. So CO2 capture and CO2 sequestration are now part of the circular economy,' Al Aufi added.
