Pact signed for development of Yetti-Yenket project

Muscat: The Ministry of Heritage and Tourism and Oman Tourism Development company (Omran) yesterday signed an agreement for the development of Yetti-Yenket project in the Governorate of Muscat, over an area of 11 square kilometres.

Omran, the government’s executive arm, will devise the plan of the project, which will be implemented in four stages in a macro outline to be presented to local and international investors.

Omran seeks to conclude development deals with potential partners, working closely with the private sector to explore opportunities for attracting direct foreign investment.

The agreement was signed by Salim Mohammed Al Mahrouqi, Minister of Heritage and Tourism, and Eng. Mohammed Salim Al Busaidi, Board Chairman of Omran.

The agreement comes in realisation of Oman Tourism Strategy 2040, said Al Mahrooqi, adding the strategy is aimed at promoting the Sultanate’s tourism products, improving competitiveness by introducing unique opportunities in key tourism locations and doing all that could enhance efforts to achieve goals of Oman Vision 2040. The overall objective is to augment the contribution of non-oil sectors to the Gross Domestic Product (GDP) and attract foreign investments, he explained.

Eng. Mohammed Al Busaidi pointed out that the project lays emphasis on Omran’s role in establishing the pillars of tourism development in the Sultanate. The strategy involves exploiting key tourism sites and transforming them into integrated destinations in accordance with the country’s future outlook, which focuses on maximising opportunities and raising the contribution of the tourism sector to the GDP.