Muscat – Omani and Tanzanian companies signed seven memorandum of understandings (MoUs) in various sectors at the Oman-Tanzania Business Forum in Muscat on Sunday.

The forum was organised by the Oman Chamber of Commerce and Industry (OCCI) to bolster trade and economic partnerships between the private players of Oman and Tanzania across various sectors, including construction, real estate, food security, mining, energy, and logistics.

H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, said that the forum serves as a platform to bolster historical relations between Oman and Tanzania by promoting trade and investment. There has been a 23.8% increase in Tanzanian companies registered in Oman and a 13.5% rise in investments over the past two years, he noted.

Faisal bin Abdullah al Rawas, chairman of OCCI spoke on the forum’s focus on introducing the economic and commercial landscapes of both countries, as well as the incentives and facilities available for investors. He noted that increased trade exchange encourages further collaboration.

During the forum, seven MoUs were signed in various sectors, including construction, real estate, agriculture, ICT, renewable energy, and consulting services.

The event featured presentations on investment opportunities in Oman, as well as an exhibition showcasing the activities of Tanzanian companies.

Bilateral meetings facilitated discussions between the Omani and Tanzanian business owners to explore potential trade and investment partnerships.

The forum also featured several working papers focused on enhancing investment attraction, incentives, and opportunities in both Oman and Tanzania.

These discussions were held to provide investors with insights into new economic environments and expand trade and investment cooperation.

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