Muscat – Oman Chamber of Commerce and Industry hosted the 5th Duqm Forum in Muscat on Sunday in collaboration with Foreign Ministry and Public Authority for Special Economic Zones and Free Zones. The forum aimed to explore investment opportunities in sectors including the blue economy, food security, logistics, tourism and renewable energy, particularly in Al Wusta.

It was inaugurated by H H Sayyid Harib bin Thuwaini al Said, Assistant Secretary-General of Council of Ministers for Conferences.

On the occasion, H E Sheikh Khalifa bin Ali al Harthy, Undersecretary for Political Affairs in Foreign Ministry, informed that such seminars provide valuable opportunities for exchange of global expertise and explore investment prospects in tourism, environmental safety and maritime navigation. “Oman has numerous resources related to the blue economy, presenting promising prospects for foreign investment.”

Highlighting Al Wusta’s role as a vital national economic centre and key partner in achieving the goals of Oman Vision 2040, Governor Sheikh Ahmed bin Muslim al Kathiri spoke on ongoing efforts to enhance development projects, including investments of RO7.5mn to improve infrastructure and public services and RO13mn aimed at boosting entertainment projects and tourism activities.

Kathiri informed that total investments in Special Economic Zone at Duqm exceeded RO6bn by the third quarter of 2024.

Al Wusta hosts five of the eight renewable energy projects launched in Oman, collectively valued at US$49bn. These projects focus on green hydrogen, solar energy and wind energy, positioning the sultanate competitively on the international stage. The governorate is also pursuing blue carbon projects aimed at creating wetlands through artificial lakes for mangrove tree cultivation. These activities are worth investments of approximately US$100mn to reclaim 20,000 hectares of land, potentially supporting the planting of over 100mn mangrove trees.

The blue economy also plays a critical role in the fishing sector, which is considered a strategic national asset that supports sustainable development, enhances food security, diversifies income sources and creates job opportunities.

Investments in food security have reached RO611.5mn, including the Al Jazar shrimp farming project, which alone has an investment value of RO462mn and an annual production capacity of up to 220,000 tonnes.

Marine fishing port projects in Duqm, Mahout and Al Jazar have a total investment of RO102mn, while projects aimed at developing fish markets and fishing villages in Duqm and Al Jazar have been allocated RO4mn.

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