Press Releases

Muscat, 16th March, 2010: International investors have been urged to take advantage of the Sultanate’s enormous untapped investment potential and strategic location as they participate in the first Oman Global Investment Forum.

In a keynote address on the opening day of the Forum, Ominvest Chairman Hani Al Zubair said that Oman deserves to become an increasingly major player in the mind set of investors offering the broadest spectrum of opportunity.

Addressing 300 delegates – including over 100 international participants – Mr. Al Zubair declared: “I believe that Oman ‘s time has come. We have the infrastructure and pieces in place to make us one of the world’s newest, most attractive and exciting places to do business.

“The Sultanate in 2010 is in great shape to welcome new investors, new ideas and new partnerships across the broadest sector of business enterprise.”

Following speeches made earlier by H.E. Ahmed bin Abdulnabi Macki, Minister of National Economy and H.E. Maqbool bin Ali Sultan, Minister of Commerce and Industry, the Ominvest Chairman explained that there was a collective will to succeed in Oman.

“In Oman we work together – the private sector and the Government – to ensure there are systems in place that both encourage and reward investment in the country,” he added.

During his address he explained that the economic outlook for 2010 was very promising and that significant infrastructure investment in the upgrading of port facilities, airport development and expansion, new roads and investment in new industrial port cities like Duqm meant there was never a better time for investors to consider Oman .

Ominvest is the senior lead sponsor of Forum that is showcasing investment opportunities in the Sultanate and internationally and has brought together key industry leaders, financial intermediaries and top level policy makers. The two day forum is being organized by Institutional Investor Conferences and held at the Shangri-La Barr Al Jissah Resort.

Mr. Al Zubair added that Oman ‘s strategic location as a gateway to the Gulf and beyond created opportunities for industrial and manufacturing companies and the natural beauty and landscape of the Sultanate gave huge opportunities for future tourism development.

“I believe that our political stability, rapidly growing and talented young local workforce and effective infrastructure make the Sultanate a very attractive investment proposition,” he added.

During the Forum Ominvest hosted a special workshop on private equity led by its CEO Shariq Azhar and featuring Mr. Mohammed Al-Barwani, Chairman of MB Holding Company LLC and Mr. Mukhtar M Hasan, Managing Partner Al Barij International among the guest panelists.

Mr. Azhar was also a panelist on the discussion about capital markets and banking and Ominvest’s Executive Vice President of Real Estate Investment, Mark Allchin, will take part in the tourism and real estate panel.

he two day Forum featured participation from a number of key business leaders from the private sector in Oman and Government organizations including Muscat Securities Market, Capital Markets Authority and Central Bank of Oman .

The cheque was handed over to the Oman Charitable Organisation by Ominvest Chief Executive Shariq Azhar who explained that the company was fully committed to granting some of its funds every year towards worthwhile causes throughout the Arab World.

Commenting on the donation Mr. Azhar said: “Ominvest has been a long-term supporter of humanitarian causes in Palestine our company intends to continue to do so. As a company we not only invest in commercial projects that contribute towards economic growth here in Oman and across the region, but we are also committed to using funds to support charitable and other causes where our donations can make a difference. .”

Mr. Ali bin Ibrahim Al Raisi, the Chief Executive of the Oman Charitable Organisation added: “We are delighted with the support that Ominvest has shown toward helping us in our work to bring humanitarian relief and aid to the people of Palestine. Ominvest has been a long-term supporter of our work and we value the partnership and continued commitment the company has shown in supporting our efforts.

Ominvest, a public joint stock company listed on the Muscat Stock Exchange, is one of Oman’s largest companies with a well diversified portfolio of investments in banking, financial services, commercial and industrial sectors of the economy.

For further information, please contact:
Kevin Hasler/Zahra Al Lawati
ZEENAH PR
Tel: 00 968 26 698 010