Workshop addresses private sector challenges in GCC Common Market
The Oman Chamber of Commerce and Industry (OCCI), in collaboration with the Federation of GCC Chambers, held a workshop on May 7, 2025 to address the issues facing the Gulf private sector in the GCC Common Market context.
Held at the Chamber's headquarters in Muscat, the forum brought together policymakers and business leaders to discuss key issues hindering intra-GCC trade, including cumbersome laws, customs procedures, logistics challenges, and poor access to funding for cross-border investment.
Participants debated concrete measures to increase regional trade and make Gulf enterprises more competitive. The workshop also reviewed current incentives and introduced requirements needed to spur private sector development and integration.
Zakaria bin Abdullah al Saadi, CEO of the Oman Chamber of Commerce and Industry, emphasized the importance of strengthening Gulf private sector cooperation in his opening remarks at a recent workshop.
He emphasized the need to overcome underlying issues in trade law, financing, and investment and push for more intense economic integration within GCC nations. Al Saadi noted the Gulf Common Market is a keystone achievement and called for concrete solutions to boost its efficiency and shape regional trade goals.
GCC expert Sulaiman al Balushi described the workshop as being a vital arena for GCC businessmen to air issues and provide down-to-earth suggestions. He further stated that actual discussion with policymakers is needed in order to establish real change and strengthen the area's private sector.
Entrepreneur Muntaha Majid said, "Such workshops allow businesspeople to raise awareness about intra-GCC trade issues. More importantly, she added, they offer a chance to meet decision-makers and exchange views on establishing the Gulf Common Market for the benefit of the private sector and enhancing regional economic integration."
Noura al Salem, Federation of GCC Chambers Senior Director of Corporate Relations and Communications, introduced the Federation's role in empowering the private sector. She stated its work in GCC initiatives, including cooperation with the GCC Secretariat, the Gulf Common Market, the Customs Union, and collaborative policy-making activities.
Al-Salem also instituted the Tawasul programme—a platform focused on consolidating direct dialogue among the private and public sectors within the Gulf region. The initiative is intended to highlight opportunities in investment, consolidate economic integration, as well as resolve trade and investment challenges.
Oman Chamber's Mohammed al Gharbi reported Oman's trends of trade with GCC countries based on sustained growth grounded in economic integration, upgraded logistics, and moves to improve regional business conditions.
The workshop emphasized the paramount importance of joint dialogue in addressing Gulf issues and supporting the economic growth contribution of the Gulf private sector.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Observer
2 hours ago
- Observer
Oman, Philippines sign visa waiver pact for diplomatic passports
MANILA: Oman and the Philippines on Tuesday signed a mutual visa waiver agreement for holders of diplomatic, special and service passports. The agreement was signed during a meeting between Sayyid Badr bin Hamad al Busaidy, Foreign Minister, and Maria Theresa Lazaro, Secretary of Foreign Affairs of the Philippines, in Manila. Both sides agreed to pursue efforts to sign several memoranda of understanding and agreements that would strengthen bilateral cooperation. The two ministers also agreed to hold the second Oman-Philippines Investment Forum in Muscat next year to foster sustainable economic ties. On the political front, the two sides exchanged views on regional issues of mutual interest, including consultations on knowledge exchange, skills development, and strengthening partnerships between Asean and the GCC. Lazaro expressed profound gratitude for Oman's humanitarian efforts, which recently led to the release of several sailors from the MV Galaxy Leaders in Yemen. She also commended the wise and balanced foreign policy of His Majesty Sultan Haitham bin Tarik and the fair treatment of Filipino workers in Oman. She welcomed the outcomes of the successful Oman-Cebu Investment Forum and expressed interest in supporting further private-sector initiatives to leverage available investment opportunities. Sayyid Badr appreciated the remarks of the secretary, emphasising the shared values and friendship that continue to grow in service of mutual interests and common prosperity. The meeting was attended by Nasser bin Said al Manouri, Oman's Ambassador to the Philippines; Raul Hernandez, the Philippine Ambassador to Oman, and some officials. — ONA
Observer
2 hours ago
- Observer
Explore the Gulf with a single tourist visa
In a significant step towards enhanced regional integration in tourism, digital economy and security, the Gulf Cooperation Council (GCC) countries are set to roll out a unified Gulf visa by the end of 2025. Dubbed the GCC Grand Tours Visa, this historic initiative aims to facilitate tourist movement in the region. It has garnered consensus from Gulf nations and international support, drawing inspiration from the European Schengen visa model. The unified tourist visa was a key topic at the 39th meeting of the GCC Passport Directors-General, recently held at the General Secretariat headquarters in Riyadh. 'The unified visa reflects the vision of our leaders to strengthen cooperation," the GCC Secretary-General Jassem al Budaiwi said after the meeting. This visa allows its holder to enter the Sultanate of Oman, Saudi Arabia, Qatar, the UAE, Kuwait and Bahrain without the need to obtain separate visas for each country. According to details available so far, the visa is designed to allow travellers to choose between a single-country visa and a multi-country option. This change aims to simplify the planning and execution of multi-country trips across the Gulf region. However, it does not include provisions for employment or long-term stay. While this initiative is a strategic effort to enhance the Gulf countries' status as a cohesive tourist destination on the global stage, it will also pave the way for greater integration in the sectors of transport, hospitality, security and collaborative investment in tourism infrastructure, airports and hotels, while simultaneously creating more job opportunities. Estimates from Gulf tourism authorities indicate that the visa application process is expected to increase the number of visitors to approximately 128.7 million by 2030, thereby enhancing the Gulf's status as a global tourist destination. It is a well-established fact that travellers worldwide are the driving force behind the GCC's special interest tourism sector, thanks to its world-class infrastructure, luxury experiences and cultural attractions that appeal to high-spending visitors. According to Future Market Insights Inc, a US-based research firm, the special interest tourism market in the Gulf Cooperation Council is projected to experience substantial growth, rising from $1 billion in 2025 to $5.9 billion by 2035. The compound annual growth rate during this period is expected to reach 19.2 per cent. 'The special interest tourism industry in the GCC countries continues to grow as governments invest in niche travel experiences that cater to diverse preferences. Each country within the Gulf Cooperation Council has established a distinct tourism identity and welcomes visitors seeking cultural experiences, adventure and luxury,' notes the research firm in its report. According to the report, the Sultanate of Oman, the UAE, Saudi Arabia and Qatar have emerged as leading destinations, attracting millions of visitors seeking novel and exclusive experiences. When discussing Oman, the report highlights that the country has leveraged its rich heritage and modern attractions to draw international visitors, especially from Europe, thereby strengthening its position in the competitive Gulf tourism market through its cultural, natural and historical offerings. 'Oman flourishes as a nature and cultural tourism destination. Tourists come to its craggy mountains for trekking in Al Jabal Al Akhdhar, while the turquoise pools of Wadi Shab offer a stunning retreat. Traditional dhow cruises in Musandam provide an authentic Arabian Gulf experience, complementing the country's growing eco-tourism initiatives," the Future Market report further states. In alignment with several Gulf countries, Oman is intensifying its efforts to attract international tourists to achieve its goal of approximately 11.7 million visitors annually and create 500,000 jobs by 2040. This initiative is part of its sustainable tourism strategy. Oman Vision 2040 establishes clear objectives for the tourism industry, including strengthening infrastructure development through increased investments and promoting the country's unique cultural heritage and landscape. Looking ahead, the introduction of new policies and initiatives, such as the unified visa, is expected to pave the way for sustained growth in tourist arrivals in Oman and other GCC countries in the coming years.
Observer
2 hours ago
- Observer
Workshop highlights incentives, start-up index
SUHAR, JULY 15 In a continued effort to enhance investment awareness and support the growth of high-potential businesses, Al Batinah North branch of the Oman Chamber of Commerce and Industry organised an introductory workshop on the promotional campaign for the Incentive Programme and Promising Start-ups Index. This initiative was launched by the Muscat Stock Exchange in collaboration with the National Programme for Fiscal Sustainability and Financial Sector Development 'Estidama'. The workshop provided an overview of the objectives of the Incentive Programme and the Promising Start-ups Index, as well as the incentives available to closed and family-owned companies. It also covered the regulatory and technical requirements for transitioning to companies listed on the Muscat Stock Exchange. The goal of this initiative is to promote integration among financial institutions, encourage small and medium enterprises to participate in capital markets, and foster the adoption of modern management and financing practices. This will help improve the business environment and drive sustainable economic growth in the Sultanate of Oman. The workshop brought together entrepreneurs, investors and business leaders from the region and was graced by the presence of Eng Said bin Ali al Abri, Chairman of the Oman Chamber of Commerce and Industry in Al Batinah North Governorate branch. The participants were introduced to the objectives and benefits of the incentive programme, with a focus on how it supports closed and family-owned companies in their transition to public listing on the Muscat Stock Exchange. A detailed presentation of the three key listing pathways available under the programme was a major highlight for entrepreneurs. The first path is the Public Joint-Stock Company Path, which is tailored for private and family-owned firms with a market value exceeding RO 10 million. This path allows these companies to access the main stock exchange and explore wider investment opportunities. The second path is the Promising Companies Market Path, which targets small and medium-sized enterprises (SMEs) and start-ups with a market value above RO 500,000. This sub-market under the Muscat Stock Exchange serves as a platform for emerging companies to expand, gain visibility and attract investors. The third path focuses on transitioning to Closed Joint-Stock Companies, aimed at limited liability companies with a value above RO 500,000 and employing more than 20 Omanis. This pathway supports their evolution into more structured, scalable and investment-ready entities. Majida al Hinai, Project Manager of the Incentive Programme at Estidama, emphasised the national significance of the initiative, stating: 'Launching this promotional campaign underscores our commitment to engaging companies across all governorates. It is a strategic opportunity to empower businesses, enhance governance practices, and contribute to a more resilient and diversified national economy.' Al Mazyani, a local entrepreneur and owner of a growing manufacturing company in Saham, commended the initiative: 'This session was eye-opening. For companies like mine, the opportunity to access capital through the stock exchange could significantly accelerate our growth. The incentives, along with the clear guidance provided today, make the idea of listing more achievable and less intimidating.'
