An Omani-Turkish agreement and huge Turkish investments coming in Oman

Pioneers Investors  -The Omani government signed an agreement with a Turkish trade delegation aimed at attracting Turkish investments to the Duqm economic zone, as part of a plan to enhance economic cooperation between the two countries.

The visit of the Turkish commercial delegation to the Sultanate comes under the organization of the Omani Ministry of Trade, Industry and Investment Promotion; To discuss means of trade and investment cooperation between the two countries, and to hold meetings with officials from a number of agencies.

According to the Omani newspaper, Atheer, the visit witnessed the signing of a preliminary agreement for an investment project to simulate the model of the organized industrial zone in Gebze (Turkish) in the Omani region of Duqm.

The joint investment sectors are in mining, petrochemicals, food and logistics. The joint investment project will be the activation of a model for the Turkish industrial zone in Duqm.

The Undersecretary of the Omani Ministry of Trade and Industry, Ahmed bin Hassan Al-Deeb, said: “The Turkish delegation will visit Duqm to see the available capabilities to attract Turkish companies.”

Al-Dheeb affirmed that “the authority will provide all facilities to these companies to motivate them to invest in the economic zone,” noting that “Turkish companies can easily access the region’s and African markets, through the port of Duqm.”

He stressed that “the authority welcomes Turkish investors in various sectors to take advantage of the available resources in the economic zone of Duqm and any other areas belonging to the authority.”

The two sides discussed enhancing trade cooperation between the two countries in a number of fields. The Turkish delegation expressed its desire to find real partnerships in the targeted sectors. The delegation will visit a number of entities during its stay in the Sultanate.

 The Omani side briefed the Turkish delegation on the most promising sectors that the Sultanate focuses on, as well as infrastructure projects and economic projects on which it relies during the next stage in attracting foreign capital.

The meeting also discussed opportunities to increase the volume of trade exchange between the two countries, and ways to enhance the presence of Omani companies’ exports in the Turkish market in particular.

The GOSB organized industrial zone is located in the center of the Marmara region, with an estimated area of ​​5,160 million square meters of land, and it constitutes two-thirds of Turkey’s market.

There are about 43 foreign companies and 163 companies in 188 industrial units in the region, and the total exports of the region during 2020 are estimated at 11 billion US dollars. The Omani government seeks to transform the Duqm region into an economic, logistical and tourism region, and has approved many incentives to achieve this goal, which comes within the Vision 2040.