Pact signed to promote Oman as leading investment destination

Omani investment services firm Ubhar Capital to support Ministry of Commerce, Industry and Investment Promotion in positioning the Sultanate of Oman as attractive investment destination

BUSINESS REPORTER

MUSCAT, FEB 14

The Ministry of Commerce, Industry and Investment Promotion has signed an agreement with leading investment advisory services firm Ubhar Capital to promote investment opportunities in the Sultanate of Oman.

The cooperation agreement was signed by the Investment Promotion Under-Secretary Assela bint Salem al Samsamiyah with Shaikh Abdulaziz bin Khalifa al-Saadi, CEO of Ubhar Capital.

As part of the pact, Ubhar will assist the Ministry in highlighting the Sultanate of Oman’s value proposition as an investment destination, identify target areas and economic activities for investment, undertake preliminary feasibility studies focusing on attractive investment opportunities, and identify potential investors as well.

Also as part of the partnership, Ubhar will assist in the organization of familiarization visits by prospective investors, supported by strategies to facilitate the financing and eventual implementation of specific projects. Additionally, the investment services firm will undertake research and prepare reports on specific investment opportunities for the benefit of interested local and international investors.

One objective of this effort is to identify challenges and impediments faced by investors with the overall goal of improving the business environment in the Sultanate of Oman.

As part of its remit, Ubhar will work with the Ministry in building a database of potential investors to enable Oman’s authorities to work with them and enable

In a statement, Al Samsamiyah said the agreement will enhance the investment appeal of the country, supplementing other regulatory and legislative initiative taken by the government to drive FDI inflows. It comes on the heels of the recent launch of a one-stop portal for the processing of investment applications, the roll-out of the investor residency visa programme, fast-tracking of processes, and other initiatives.

Ubhar’s CEO Shaikh Abdulaziz said the company will support the Ministry in its endeavour to position the Sultanate of Oman strongly as a world-class setting for business and investment, which can compete internationally with other global destinations.

Ubhar Capital, one of the largest investment companies in the region, has more than $1 billion in assets under it managed. It has also facilitated a number of major joint stock financing transactions and helped raise over $7.5 billion through initial public offerings, private placements, and mergers and acquisitions. (With inputs from ONA)