Five tourism projects unveiled with RO 960m worth of investments

BUSINESS REPORTER

MUSCAT, JULY 2

The Ministry of Commerce, Industry and Investment Promotion works has unveiled five tourism projects for investment and development – an initiative it has launched in collaboration with the Ministry of Heritage and Tourism and a number of private sector companies. Total investment in the five projects is estimated at RO 960 million.

Notable is a proposal for the development of a National Leisure and Tourism Destination at Barka in South Al Batinah Governorate. Other schemes for investments pertain to the Madinat Al Irfan development in Muscat Governorate and another project in the Wilayat of Bausher – also in the capital city. Rounding off the list is a proposal for an adventure centre at Khasab in Musandam Governorate.

According to Faisal bin Said al Hakmani (pictured), Director of investment opportunities at the Ministry of Commerce, Industry and Investment Promotion, the proposed projects will help attract investment that supports economic diversification, strengthen the power sector, boost GDP growth and position Oman as a promising investment destination.

Oman’s tourism sector, he said, is undergoing a major transformation designed to boost foreign direct capital and investment inflows, support integrated tourism investment and development, and open up opportunities for SMEs. (With inputs from ONA)