(MENAFN- Muscat Daily) Muscat- H E Yahya al Jabri, chairman of the Special Economical Zone Authority at Duqm (SEZAD), has invited the Chinese companies and investors to invest in Oman, specially in Duqm area.
In a speech at the China-Arab States Expo 2017 in the Chinese city of Yinchuan, H E Jabri assured the Chinese firms that all the requirements and fundamentals of success for Chinese investments in Oman have been established on strong cooperation and relations between the two countries.
An Omani delegation led by H E Jabri participated in China–Arab States Expo to introduce investment opportunities available in the sultanate, particularly in Duqm area, according to a press release issued by SEZAD.
H E Jabri said, 'I would like to convey a clear message that the opportunity for the Chinese private sector investment in Oman is at its peak, either individually or in cooperation with the Omani private sector. This opportunity will also benefit Oman in economic diversification and in reducing reliance on crude oil. This will also help to create many job opportunities for Omanis.'
Speaking about China's direct investment in Oman, H E Jabri mentioned about the agreement which was signed between SEZAD and Wanfang Oman to invest in Duqm area. The agreement provides Wanfang Oman with around 11.8sqkm of land in Duqm area to develop the infrastructure and set up direct Chinese investment in the area for heavy, moderate and light industrial projects, in addition to oil refining and petrochemicals projects.
Chinese investment in Duqm area is expected to reach around US$11bn within the next decade and expected to create around 12,000 job opportunities.
H E Jabri noted that total Chinese investment in Oman by 2015 had reached a total of US$2bn, while the bilateral trade between two countries reached to US$17.2bn. H E Jabri also mentioned that Oman's oil exports to China had reached a total of 237mn barrels, accounting for 77 per cent of Oman's total oil exports and ten per cent of China's total oil imports. Oman's non-oil exports to China had reached to US$192mn, he added.
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