Omani-Spanish
Economic Forum Explores Partnership, Investment Opportunities

Madrid,
4 Nov (ONA) — The Omani-Spanish Economic Forum, held today in the Spanish
capital, Madrid, reviewed partnership and investment opportunities between the
two friendly countries in various economic fields. The Forum took place within
the context of His Majesty Sultan Haitham bin Tarik’s state visit to the
Kingdom of Spain.

The
Forum reviewed investment opportunities available in the fields of renewable
energy, ports and logistics, maritime services, tourism, food industries,
digital technology, smart cities, and technical education.

Qais
Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion,
stated that the Sultanate of Oman and the Kingdom of Spain are business-supportive
investment destinations with a governmental commitment to supporting public and
private sector partnerships. He noted that the Sultanate of Oman has
established an attractive investment environment in accordance with the goals
and ambitions of Oman Vision 2040.

He
added in his speech that the number of registered Spanish companies operating
in the Sultanate of Oman increased from 43 companies in 2023 to 49 companies in
2024, a rise of 14 percent. He affirmed that these figures reflect the strengthening
of commercial relations between the two friendly countries and the growing
recognition of the Sultanate of Oman as a strategic market for Spanish
expertise.

He
emphasized that this new phase will support Spanish companies with plans for international
expansion and encourage their entry into the Sultanate of Oman, noting that the
two countries share a common goal of reaching net-zero emissions by 2050.

For
her part, Amparo López Senovilla, Spain’s Secretary of State for Trade,
emphasized in her speech the depth of economic relations linking the two
friendly countries, noting that trade cooperation between the two sides is
witnessing continuous growth in various fields. She highlighted that Spain is
one of the most prominent trading partners of the Sultanate of Oman in Europe,
exporting a wide range of products to the Omani market.

She
explained that the Sultanate of Oman is a reliable energy supplier for the
Kingdom of Spain and contributes to providing the Spanish market with essential
materials such as aluminum, electrical equipment, and plastic products. She
pointed out that Oman Vision 2040, with its focus on economic diversification,
opens promising horizons for Spanish companies to invest and participate in these
vital pathways.

The
Spanish Secretary of State for Trade affirmed that the Spanish government,
through its various financial tools, will continue its support for expanding
areas of trade and investment cooperation with the Sultanate of Oman, contributing
to mutual development and enhancing the presence of Spanish companies in the
region.

Moreover,
Faisal Abdullah Al Rowas, Chairman of Oman Chamber of Commerce and Industry
(OCCI), stated that organizing this Forum reflects the joint efforts of Omani
and Spanish private sector institutions in promoting and creating commercial
partnerships, researching promising investment opportunities, and converting
them into joint projects that support economic growth and diversify income
sources in line with the objectives and directions of the two countries.

Al
Rowas emphasized the importance of leveraging the attractive investment
environment in the Sultanate of Oman and the competitive advantages and
qualitative opportunities it offers to Spanish investors, thanks to its vital
strategic location, economic stability, developed infrastructure, and diverse economic
and free zones. He expressed hope that the Forum will contribute to
strengthening commercial and investment partnerships and expanding cooperation
horizons between the two countries, positively impacting sustainable
development and enhancing mutual interests.

José
Luis Bonet, President of the Spanish Chamber of Commerce, explained that the
Forum reviewed the investment opportunities and advantages enjoyed by the two
friendly countries in various fields, in addition to the great potential that
would develop bilateral economic relations between the two sides.

He
pointed out that Spanish companies have strengthened their presence in the
Sultanate of Oman over the past few years through projects in infrastructure,
the oil and gas sectors, water desalination, water and waste treatment, and
other sectors. He affirmed that the two friendly countries are establishing a
favorable economic cooperation framework for joint partnerships through
agreements and Memoranda of Understanding signed by both sides.

During
the Forum, a visual presentation on “Invest Oman” was delivered,
covering the available investment opportunities, advantages, incentives, and
facilities offered by the Sultanate of Oman to investors.

The
Forum included B2B meetings between businesspeople from both countries across
various economic sectors such as investment, real estate development, industry,
the financial sector, energy, technology, health, food security, tourism, and
sports.

During
these meetings, ways to enhance trade and investment cooperation and the
possibility of establishing joint projects were discussed.

The
Forum was attended by a number of officials and businesspeople from both sides.

—Ends/AG