Mohammed bin Hassan Al Malki, undersecretary of the Qatar Ministry of Commerce and Industry (MOCI) recently revealed that trade exchange between Qatar and Oman reached $1.2 billion during the first seven months of 2024, compared to $1.4 billion in 2023.
In his speech at the Qatar-Oman investment forum in Doha, Al Malki said that the relations between Qatar and Oman are based on historical foundations and a shared destiny. He called on the business sectors in both countries to seize the opportunity of this forum to develop strategic partnerships that serve common goals and meet future aspirations.
The forum serves as an important platform to explore investment opportunities and discuss areas of cooperation that serve the mutual interests of the business sectors in both countries. It focuses on stimulating mutual investments and enhancing partnerships in vital sectors in both Qatar and Oman.
Qatar invests $5.2 billion in Oman
For her part, Ibtisam bint Ahmed Al Farooji, undersecretary of the Ministry of Commerce, Industry and Investment Promotion in Oman, said that mutual investments between the two countries have witnessed significant growth in recent years, with Qatar’s investments in Oman amounting to OMR2 billion ($5.2 billion). In Oman, Qatar’s investments focus on strategic sectors such as energy, hotels and tourism, transport and logistics, and real estate.
These figures reflect the shared vision towards enhancing economic and investment cooperation to achieve mutual interests. Al Farooji added that the rapid global economic changes necessitate intensified efforts and enhanced joint cooperation to create an investment environment capable of keeping pace. She also called for finding ways to enable all investment-related entities and encourage investors to take advantage of the promising opportunities offered by the investment environment.
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Private sector participation key to growth
The Qatar-Oman investment forum witnessed the participation of representatives from government entities, prominent businessmen, investors and representatives from major Qatari and Omani companies specializing in various fields. The event is an important step towards enhancing and developing joint investments and exploring promising cooperation opportunities in vital sectors of mutual interest.
During his participation, Eng. Ali bin Abdullatif Al Misnad, Board Member of the Qatar Chamber, emphasized the importance of private sector participation in enhancing trade and investment cooperation between the two countries. He cited many viable investment opportunities in both countries that the private sector can exploit, particularly in the logistics sector.
During the forum, the advantages of the business environment in Qatar and Oman were highlighted, along with several bilateral meetings between Qatari private sector representatives and Omani companies to discuss cooperation opportunities in promising sectors such as logistics services, food security, and tourism. Meetings also explored mechanisms for establishing new investment partnerships that serve the aspirations of both countries.
