Immense opportunities for Indian companies in Oman: Business body chief

Monday, January 24, 2011

MUMBAI - Oman’s focus in the post crisis period world is to strengthen bilateral relations with India in sectors such as oil, renewable energy, healthcare and education, to name a few’, said Pankaj Khimji, Chairman, Oman India Business Council mentioned while addressing the Luncheon Session on Destination Oman at The Partnership Summit 2011 organized by CII in partnership with Department of Industrial Policy and Promotion, overnment of India and Government of Maharashtra, here today.

The economy of Oman has been largely insulated from the recent downturn and has consistently maintained a high growth rate in the past few years. The economy is greatly reliant on hydrocarbons and there are immense opportunities to diversify into different sectors, Mr Khimji said. He also mentioned that Oman has a large young population and therefore, Oman needs to lay special emphasis on higher education and skill development. He emphasized on the role of Oman India Business Council acting as a catalyst to strengthen relations between India and Oman for generating more win-win partnerships’.

Speaking about the potential in Oman markets, Mr. Maqbool bin Hameed Al Saleh, Chairman, Oman International Holdings Company reiterated that Oman had both political and economic stability and the planned development in the State has been universally acclaimed. The country provides an attractive investment climate with peaceful labour conditions, free market, clean environment and is protected by robust rule of law, he added.

Jamal T. Aziz , CEO Sohar Free Zone and Deputy CEO Port of Sohar shared the success story of Sohar port. He said that the Sohar Port served as logistical springboard to enlarge the consumer market. Port of Sohar is well connected to the economies of the Middle-east and India and it is the hub for sectors including logistics, petrochemicals and metals, he added.

Dr. Maurice Girgis, Duqm Project Advisor, Ministry of National Economy mentioned that Duqm was one of the largest export refinery and petrochemicals complex project having world class infrastructure and best business practices. There has been a special emphasis on the fish processing sector. The Sultanate of Oman Government is planning to deploy best operators for port and dry dock in Duqm’, he further said.

While sharing the Indian experience, Mr. S N Subramanyan, Senior Vice President and Head - Buildings and Infrastructure IC, Larsen and Toubro Ltd said that L and T was one of the major players in Oman. He said that Oman had sound connectivity with the domestic markets and efficient government procedures. There have been several fruitful partnerships with Zubair Corp in oil, power and heavy engineering sectors, he alluded.

B Muthuraman, President Designate, Confederation of Indian Industry Chairing the Luncheon Session affirmed that in this era of global rebalance there are immense opportunities in countries such as India and Oman. (ANI)

Filed under: Business

will not be displayed