Aligned with Sohar International's commitment to supporting Oman's vision and contributing to the national economy, Mr. Ahmed Al Musalmi, Chief Executive Officer of Sohar International, delivered a thought-provoking presentation in the Arab Federation of Capital Markets (AFCM) annual conference. This prestigious event is the largest gathering of stock exchanges and capital markets in the Arab world and is being hosted by the Muscat Stock Exchange (MSX). The presentation titled “The Future of Business: Oman Investment Destination” offered valuable insights into the numerous advantages that Oman offers to businesses and investors, making it an ideal destination for those looking to capitalize on the country's unique opportunities and potential for growth.
Mr. Ahmed Al Musalmi emphasized Oman's distinct investment-friendly landscape, highlighting the country's compelling strengths and benefits that make it an attractive prospect for investors seeking portfolio diversification. Mr. Al Musalmi said, “While Oman offers numerous investment avenues, such as the clean energy sector, there are still underexplored areas that present substantial potential for investors. Particularly in light of the global push towards sustainable energy practices, it is crucial to recognize the significance of exploring this sector and the investment opportunities it offers. Given Oman's readiness to embrace and explore new investment opportunities, investors should consider the country as a destination for their investments. By doing so, they can not only benefit from potential returns but also contribute to the country's economic growth and development, especially considering the changing global landscape and challenges faced by the world.”
During his insightful presentation, Mr. Ahmed Al Muslami shed light on the various factors that contribute to Oman's uniqueness and attractiveness as a prime destination for business and investment. One of the key points he emphasized was Oman's geo-strategic location, which encompasses robust logistical network and multi-faceted infrastructural - physical and digital - capability that uniquely serves as a gateway for connecting with regional and global markets and offers tremendous potential for businesses looking to expand their reach. Additionally, Mr. Al Muslami highlighted the stable environment in Oman, which provides a secure foundation for businesses to operate in and ensures a favorable business climate.
Another crucial aspect of Oman's appeal to investors is its investment-friendly policies that facilitate capital and profit repatriation, making it easier for businesses to maximize their returns. Mr. Al Muslami also touched on the availability of a highly skilled workforce in Oman, which is essential for businesses seeking to establish and grow their operations. The presentation emphasized the importance of economic diversification, as Oman looks to move away from its dependence on oil and gas revenues and develop new industries. This will not only create new opportunities for businesses but also help Oman establish a more sustainable and diversified economy.
"We firmly believe that this conference offers an outstanding platform to showcase Oman's immense investment opportunities and high potential to a wide-ranging audience. We at Sohar International are well positioned to play a proactive and catalytic role to advance Oman’s socioeconomic diversification program and position Oman as a unique and attractive investment destination," added Mr. Ahmed Al Musalmi.
Hosted by Muscat Stock Exchange, the AFCM conference included 11 sessions and over 50 speakers who shed light on various topics related to capital markets, including sustainability, carbon credits, climate change, IR & ESG practices, Islamic capital markets, and Fintech. The conference comes under the framework of the capital market’s fiscal sustainability programme launched by the government to devise an annual plan targeting a group of annual listings, enhancing trading and liquidity at the stock exchange and improving financial services provided to investors and encouraging technology and innovation.
Sohar International has demonstrated a steadfast commitment to strengthening the national economy and contributing to the comprehensive development of Oman, exhibiting unwavering dedication to these values. As part of this commitment, the bank has supported various initiatives that embody these principles, consistently demonstrating its resolute efforts to foster growth in the business landscape, promote entrepreneurship and innovation, and advance the cause of sustainable development. In recent times, the bank has extended its support to several forums, providing a clear indication of its continued dedication towards these noble objectives.