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Oman Emerges As A Key Investment Destination
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Houston hosted a pivotal event, this week, that promised to strengthen international ties and foster economic collaboration between the Energy Capital of the World and the Sultanate of Oman.
On Monday, September 18, Houston’s Bilateral Chamber took center stage at the Post Oak Hotel, with an investment forum featuring many distinguished speakers, including the U.S. Undersecretary of Commerce and Oman’s Ambassador to the U.S., delved into critical sectors like energy and healthcare.
In the Investment Forum, H.E Ali Al Shethani, Undersecretary for Communication and Information Technology, Ministry of Transport and H.E Ibtisam Al Farouji, Undersecretary for Investment Promotion, Ministry of Commerce, Industry & Investment Promotion spoke about the benefits of investing in Oman. “There are so many opportunities [in Oman] in AI, cyber security, space, digital transformation… we are looking forward to meeting with American companies to talk about businesses and partnership and find out the digital Investments that we can bring to,” Al Shetani said.
Mr. Al Shetani added that universities in Oman graduate 3,000 to 4,000 people each year in the field of Information technology, of which 80% of its graduates are women. Oman is predicted to be the fastest growing economy in 2023 in the GCC (Gulf Cooperation Council) by the World Bank, surpassing neighboring countries like Qatar, the United Arab Emirates and Saudi Arabia.
Oman has become an attractive alternative for investors because of its stability and political neutrality. Mr. Al Farouji, the Undersecretary of Investment Promotion, added that Oman is a great place to do business because it is a “virgin country”, meaning that there is an abundance of fresh opportunities to invest in education, energy, technology, tourism and mining.
The Bilateral Chamber was founded in 1997 in Houston, Texas to promote investment between the US and the MENA region. The network has facilitated more than $100 billion in transactions and investment over the last 25 years.