The Secretary General of the Union of Arab Chambers, Dr. Khaled Hanafi, confirmed during his speech at the opening of the “Suhar Investment Forum” held in Sohar - Sultanate of Oman, “The Union of Arab Chambers, which is the true representative of the Arab private sector, supports the Sultanate of Oman’s 2040 vision and the strategic initiatives in Sohar so that we can begin this phase of growth, cooperation, and success together.”
He explained, “Sohar enjoys a strategic location in the heart of global trade routes, close to thriving markets, where its deep sea port is vibrant with maritime activity, while its industrial free zone is brimming with innovation energy. This strategic location, combined with world-class infrastructure and a supportive government, make Sohar an unparalleled investment haven.”
The Secretary-General noted "the importance of linking the port of Sohar with Arab ports in order to establish a logistical corridor starting from Egypt and reaching China, passing through the countries of the Arabian Gulf."
He said: “The statistics paint a convincing picture of this development, as Sohar witnessed a remarkable growth in GDP by 7 percent annually, and attracted more than $15 billion in foreign direct investment. This growth is the result of a carefully crafted strategy that focuses on investor-friendly policies and a commitment to excellence.”
He pointed out that "the government policies of the Sultanate of Oman have made Sohar and all the cities and regions of the Sultanate fertile ground for investment. Tax exemptions, customs duty benefits, and allowing 100 percent foreign ownership in many sectors are considered incentives for innovation, expansion, and prosperity.” He considered that “Sohar’s transformation into a dynamic industrial center did not happen by chance, as Sohar enjoys a distinctive geographical location at the crossroads of East and West, which provides unprecedented access to international shipping routes. This strategic advantage is reinforced by the Sohar Port and the modern free zone, a facility that has attracted investments of more than $25 billion, confirming the confidence of the global business community in Sohar’s potential.”
He noted that “Sohar plays a prominent role in meeting local needs, enhancing food security for the Sultanate of Oman, in addition to achieving more self-sufficiency in many diverse sectors.” He considered that “the remarkable industrial growth in Sohar has contributed significantly to the non-oil GDP in the Sultanate of Oman with the prosperity of many diverse sectors from shipping to manufacturing, in addition to promising investment opportunities in the renewable energy, tourism, and fishing sectors to diversify the economy away from dependence on oil.”
He considered that “Sohar is actively contributing to the realization of Oman Vision 2040, a vision that inspires innovation, technology, and the exploitation of knowledge as basic pillars for shaping a future full of hope and brightness. This process goes beyond simply seeking to diversify sources of income, as it represents a careful journey towards shaping a sustainable and comprehensive tomorrow that embraces the aspirations of every Omani.”
He concluded by saying, “Today we stand at the threshold of a new phase of growth and development in Sohar, which has become a symbol of renewal and innovation in the heart of the Sultanate of Oman. Together we are witnessing a bright chapter of Omani history, written by the hands of its loyal sons who work hard and sincerely to build a future worthy of our great ambitions.”
Source (Union of Arab Chambers)
