Strategic Investments Inked in Closing Day of Advantage Oman
Forum
Muscat, 28 Apr (ONA) —— The Ministry of Commerce, Industry, and
Investment Promotion today concluded the first international investment forum,
“Advantage Oman,” with the signing of strategic investments that
boost the Sultanate’s position as a promising investment destination.
Ibtisam Ahmed Al Farooji, Undersecretary of the Ministry of
Commerce, Industry, and Investment Promotion for Investment Promotion, affirmed
that the forum supported economic diversification and attracted high-quality
investments aligned with Oman’s future vision.
She noted that the event provided a distinguished platform
connecting local and international investors with thought leaders and economic
experts, fostering the exchange of ideas and exploring promising growth
opportunities.
She emphasized that the forum enabled participants to engage
with public and private sector leaders, discuss key economic trends, and explore
investment opportunities in vital sectors. The specialized panel discussions
aimed to produce actionable recommendations, drawing from regional and global
success stories.
She added that the forum featured bilateral meetings between
investors and officials in economic sectors prioritized by Oman Vision 2040,
which serves as a cornerstone for the Sultanate of Oman’s efforts to achieve
growth and economic transformation in line with national objectives.
At the forum’s conclusion, JA Solar signed several agreements
with Invest in Oman, Sohar Port and Freezone, and Majis Industrial Services to
establish a solar cell and panel manufacturing plant. Spanning 32.5 hectares in
the second phase of the free zone, the project is valued at RO 217.3 million.
Scheduled to commence operations in Q1 2026, the facility will
have an annual production capacity of 6 GW of solar cells and 3 GW of solar
panels.
This agreement advances Oman Vision 2040 by supporting the
transition to renewable energy and economic diversification, alongside growing
interest in opportunities within the free zone’s second phase.
Khalid Salim Al Qasabi, Director General of Industry at the
Ministry of Commerce, Industry, and Investment Promotion, stated that the
agreements to establish the solar manufacturing plant in Sohar Freezone reflect
the ambitious goals of Oman’s Industrial Strategy 2040, which focuses on
developing future industries and promoting value-added investments.
He added that renewable energy industries are a priority in the
industrial strategy due to their role in creating promising opportunities to
diversify the national economy, increase the industrial sector’s contribution
to GDP, and enhance Oman’s energy mix.
The project, expected to begin operations in Q1 2026, will
contribute to developing the clean energy value chain and attracting related
industries, reinforcing Oman’s position as a regional hub for renewable energy
and green industries.
The forum’s second day featured dialogue sessions with
decision-makers, opportunities for strategic partnerships, investor success
stories, and roundtable discussions in key sectors, including tourism,
logistics, mining, food security, renewable energy, and IT.
—— Ends/AH
