Omani-Egyptian
Companies Sign Industrial Investment Agreement

Cairo,
May 26 (ONA) — An industrial investment agreement worth RO 1 million (USD 2.6
million) was signed today at the Embassy of the Sultanate of Oman in Cairo
between global company Zeinox and “Ladayn” program of OQ Group.

Abdullah
Nasser Al Rahbi, the Sultanate of Oman’s Ambassador to the Arab Republic of Egypt
and Oman’s Permanent Representative to the Arab League, emphasized that the
“Ladayn” program represents a promising step in developing and
attracting investments to the plastics industry sector. This enhances
utilization of Oman’s abundant raw materials and reinforces industrial
integration and expertise exchange between the countries.

Al
Rahbi lauded the vital role undertaken by Omani and Egyptian business leaders
as key pillars in strengthening bilateral relations and transforming them into
practical projects. He noted both countries possess promising investment
advantages and strategic geographic locations that create wide-ranging
cooperation opportunities.

The
Ambassador highlighted growing interest from public and private sectors in both
countries to explore partnership and investment opportunities, particularly in
energy, petrochemicals, industry and maritime transport. He expressed hope
these efforts would boost trade exchange and enhance shared economic growth
prospects.

Al
Rahbi stated that Oman’s Embassy in Cairo operates according to economic
diplomacy principles, a cornerstone of Oman Vision 2040 aimed at income
diversification and establishing Oman as an attractive investment hub. This
approach has opened promising horizons for investment opportunities and
encouraged direct communication between institutions and business leaders from
both sides.

The
Ambassador noted that qualitative partnerships achieved in recent years result
from the Embassy’s ongoing efforts to promote investment opportunities,
encourage joint investments, and expand cooperation horizons – aligning with
Oman’s development vision and Egypt’s economic orientation toward a productive,
diversified investment-based economy.

Dr.
Shady El Zini, Board Member of Zeinox Global, stated establishing the company’s
factory in Oman will create job opportunities for citizens and provide
high-quality products meeting local, regional and global market needs. He
emphasized the project will benefit from Oman’s exceptional investment
components and incentives across various fields.

Eng.
Munther Saleh Al Rawahi, Director of Ladayn program at OQ Group, revealed the
program has signed 18 agreements to date with total investments exceeding USD 160
million. This achievement reflects OQ Group’s commitment to supporting
manufacturing industries, particularly petrochemicals, by empowering private
sector and maximizing utilization of hydrocarbon derivatives, thus broadening
industrial development prospects.

—Ends/AG