A business seminar on the advantages of investing in Oman was held at the premises of the Chamber on 5th July.
The Chamber was proud to host senior officials from the Oman Chamber of Commerce, Oman’s investment and export promotion agency, Ithraa, and the respective ambassadors from both Oman and the UK. The visitors were welcomed to the Chamber by Mr Bandar Reda, ABCC Secretary General & CEO.
The occasion marked the formal signing of a Memorandum of Understanding between the Oman Chamber of Commerce and Industry (OCCI) and the London Chamber of Commerce and Industry (LCCI).
The aim of the MoU is to boost investment and trade opportunities between the two countries.
The signing took place in the presence of His Excellency Shaikh Abdulaziz bin Abdullah bin Zahir Al-Hinai, Ambassador, the Sultanate of Oman and HMA Hamish Cowell, the British Ambassador to Oman.
Also present to witness the ceremony were Mr Simon Penney, HM Trade Commissioner for the Middle East, Dr Khaled Hanafy, the Secretary General of the Union of Arab Chambers and other dignitaries.
The MoU was signed by Mr Qais Bin Mohammed Al Yousif, Chairman of the OCCI and Mr Peter Bishop, Deputy CEO of LCCI.
The agreement will strengthen cooperation and improve trade promotion between the two countries, encourage business collaboration and build partnerships.
In order to achieve this, the parties pledged to promote direct contact between business entities in various sectors, by organising business delegations and participating in trade fairs.
During the event at the ABCC, the Chamber and the OCCI also signed a cooperation accord.
A presentation from Ithraa highlighted the tax incentives available for investors in Oman and focused on some of the key growth sectors, namely education, tourism, healthcare, metals & minerals, fisheries, logistics, food and water.
The delegation was taking place at a time when the level of bilateral trade and investment flows were on the increase with both countries were keen to deepen their cooperation.
While in the UK, the Oman delegation had attended the Arab British Economic Summit (ABES2019) and held a series of bilateral meetings with their British counterparts. Apart from London, the Omani business executives travelled to Manchester where they visited the city’s Chamber of Commerce and met with local companies and investors interested in doing business with Oman.