Invest Oman hosts ‘Advantage Oman' dialogue in Brussels
BUSINESS REPORTER
MUSCAT, JUNE 17
As part of its strategic agenda to expand global investment partnerships, Invest Oman , operating under the Ministry of Commerce, Industry, and Investment Promotion, convened the 'Advantage Oman – Kingdom of Belgium' Business Dialogue in Brussels. The event was held in collaboration with the Embassy of the Sultanate of Oman in Belgium and the Arab-Belgian-Luxembourg Chamber of Commerce (ABLCC).
Designed to highlight the Sultanate's evolving investment landscape, the dialogue aimed to foster deeper economic and trade relations between Oman and Belgium. It brought together a distinguished audience of Belgian investors, industry leaders, and senior decision-makers, with a focus on high-potential sectors such as renewable energy, pharmaceuticals and life sciences, and tourism and leisure.
The platform facilitated direct engagement between Omani and Belgian stakeholders, enabling exploration of joint investment opportunities and commercial synergies. The Omani delegation presented Oman's strategic megaprojects, regulatory enhancements, and investor-centric reforms—underscoring the Sultanate's commitment to creating a competitive and future-ready business environment.
Pankaj Khimji, Foreign Trade and International Cooperation Adviser at the Ministry of Commerce, Industry, and Investment Promotion, stated: 'Oman places great emphasis on forging long-term partnerships with Belgium. This dialogue is a strategic step toward elevating our economic cooperation, introducing Oman's competitive advantages, and enabling Belgian enterprises to expand within a high-potential, future-ready market.' Rua bint Issa Al Zadjali, Ambassador of the Sultanate of Oman to the Kingdom of Belgium, remarked: 'This initiative reflects Oman's broader vision to strengthen economic diplomacy and create meaningful engagement with key international markets. It is a timely platform to deepen ties with Belgium's business community and highlight Oman's role as a trusted and strategic investment destination.' The 'Advantage Oman – Kingdom of Belgium' Business Dialogue is part of Oman's ongoing global outreach to position itself as a regional gateway for investment and trade. Belgium continues to emerge as a key partner across several priority sectors, as Oman actively builds enduring economic bridges with European markets.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Observer
2 hours ago
- Observer
China's rare earths are flowing again, but not freely
BEIJING: The threat of mass shutdowns across the automotive supply chain is fading as Chinese rare earth magnets begin to flow, though automakers and suppliers say production plans still face uncertainties and a continued risk of shortages. European suppliers have received enough licences to avoid the widespread disruptions predicted earlier this month but hundreds of permits remain pending, said Nils Poel, head of market affairs at supplier association CLEPA. The rate of issuance is "accelerating" and has risen to 60% from 25%, he said, but cases where the end users are based in the United States, or where products move through third countries like India, are taking longer or not being prioritised. "Overall the feeling is that we probably will still have production in July and that the impact will be manageable," he said. "Maybe here and there a production line will be affected, but we have avoided that for the moment." On Friday, Ford CEO Jim Farley said during an appearance in Colorado that the company has had to shut down factories over the past three weeks because of magnet shortages, without elaborating. Volkswagen said in a statement to its supply of rare earth components was stable while rival Stellantis said it had addressed its immediate production concerns. China restricted exports of seven rare earths and related magnets in April in retaliation for US tariffs. Three months later there remains huge uncertainty about how it intends to police its opaque and complex export licensing system. Since the restrictions were imposed, rare earth magnet exports from China have fallen roughly 75%, forcing some automaker production lines to halt in Asia, Europe and the United States. The White House said on Thursday it had signed a deal with China to speed up rare earth approvals without providing details. Beijing said hours later both parties had confirmed details of the deal struck in London earlier this month, which was meant to resolve the rare earth issue, and it would process export licences in accordance with the law. Neither party detailed any changes to the existing export licensing system. US Treasury Secretary Scott Bessent said in an interview with Fox Business Network on Friday that, under the agreement announced on Thursday, rare earth shipments to the United States from China would be expedited to all companies that have previously received them on a regular basis. "I am confident now... the magnets will flow," Bessent said. "This is a de-escalation." Two weeks ago the car industry was in a "full panic," but licence approvals by China have sped up and there is now less threat of a sudden stop, according to an executive at a leading US automotive supplier and a source with knowledge of the supply chain at a major European carmaker. Both asked not to be named because of the sensitivity of the issue. China is approving the "bare minimum" of critical licences for European firms to avoid production stoppages, a European official said. US magnet maker Dexter Magnetic Technologies, which has defence clients, among others, has received just five of 180 licences since April, CEO Kash Mishra told Reuters, adding those were intended for non-defence sectors. "It's an extended delay," he said. "It's 45 days trying to get the paperwork right for the supplier, and then it's 45 more days or so before any licences are granted." — Reuters
Observer
2 hours ago
- Observer
E-freelancing gains momentum among Omani youth
MUSCAT: Online freelancing is gaining strong traction across the Sultanate of Oman, fuelled by the evolving digital economy and proactive government initiatives that support self-employment and youth empowerment. Aza bint Ibrahim al Kindi, Director of Commercial Affairs and E-Commerce at the Ministry of Commerce, Industry and Investment Promotion, noted that e-commerce has become one of the most prominent freelancing sectors. This growth has been supported by streamlined licensing procedures, including the introduction of the 'Freelance Business Register' – a low-cost, regulated framework for individuals to operate legally. She emphasised that e-commerce offers significant advantages: low startup costs, broad consumer reach, and access to regional and global markets. These benefits make it an ideal platform for young Omanis seeking to build sustainable businesses and diversify income streams. Aza bint Ibrahim al Kindi, Director of Commercial Affairs and E-Commerce at the Ministry of Commerce, Industry and Investment Promotion Over 200 commercial activities are now covered by freelance licences, allowing businesses to gain consumer trust through platforms such as 'Maroof Oman,' which authenticates licensed e-stores. Al Kindi highlighted e-commerce's contribution to job creation, especially for graduates and job seekers in marketing, software, and digital design. The sector also showcases Omani talent and innovation, boosting value-added economic activity and modernising the business landscape. She cited the government's National E-Commerce Plan (2022–2027), which includes initiatives like the SME Authority's training programmes for global platforms such as Amazon and Noon. Other initiatives, such as the Ministry of Transport's 'Makin' programme, help upskill Omanis with in-demand technical skills. In conclusion, Al Kindi noted that online freelancing is not just a source of income but a critical stepping stone for entrepreneurship. It allows Omanis to build professional portfolios and networks before launching independent ventures, reinforcing Oman Vision 2040's aspirations for a knowledge-driven, innovative economy. — ONA
Observer
2 hours ago
- Observer
Move to localise Oman's ‘green copper' value chain
MUSCAT: A pioneer in the production of 'green copper'—copper cathode extracted from mining waste—is now exploring opportunities to boost in-country value (ICV) through potential investments in domestic copper rod manufacturing. The move seeks to localise the entire green copper lifecycle, from tailings to finished rod, said Imraan Shaikh, Managing Director of Green Tech Mining & Services. Earlier this month, the company— a joint venture between Oman Mining Company (49%) and Austria-based BPG Precious Metal Storage Plc (51%)—commissioned the Arjaa Tailings Processing Calibration Plant (ATPCP) in Suhar. This first-of-its-kind facility recycles copper tailings using renewable energy and advanced clean technologies. The facility, which serves as a precursor to a full-scale commercial plant scheduled to break ground before year-end, treats acid mine drainage waters and processes leaching deposits from stripping, overburden, and low-grade ore stockpiles to recover valuable metals. Green copper output, currently a modest 60 tonnes per annum, is projected to soar to 12,000 tonnes when full commercial operations commence in December 2026. While current production is exported under an offtake agreement with international commodities trader Traxys, Green Tech Mining is now engaging with local industry players to foster downstream processing in Oman. 'The Ministry of Commerce, Industry, and Investment Promotion is keen to enhance in-country value,' said Shaikh in an interview with The Energy Year, a leading business news platform. 'We are in discussions with Oman Cables and Nuhas Oman to explore copper rod production using locally recycled green copper.' Green Tech Mining currently manages around 18 million tonnes of copper tailings at Arjaa, a legacy of copper mining operations from 1983 to 1994. An additional 6 million tonnes has been secured through a partnership with leading Omani miner, Mawarid Mining. More tailings are expected to become available as a new wave of copper mining and processing projects gathers pace in the Sultanate. The company's green copper initiative is built on a 'sustainable circular mining' model, combining low-carbon reprocessing technologies with renewable energy. Funding for the project was raised through green bonds certified by Austria's Ministry of Climate Affairs and Energy. 'This is not just a financial milestone—it's a global first,' Shaikh noted. 'While major firms like BHP have issued green bonds for renewable energy, our bonds are the first in the world dedicated specifically to mine tailings remediation. It is also the first green bond-funded project in the GCC's mining sector.' With copper now officially designated a critical mineral due to its essential role in the global energy transition, Green Tech Mining aims to contribute to closing the supply gap through environmentally responsible tailings recovery.
