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Oman and Iran to establish US$ 50 million
Joint Venture Investment Company
OCIPED in
coordination with the Iranian Foreign
Investment Company is in the process of
establishing a US$ 50 million capital Oman
Iran investment company in order to further
enhance the commercial and economic
cooperation between the Sultanate of Oman
and the Islamic Republic of Iran. This step
is in line with the overall objectives of
OCIPED’s to attract foreign investment to
Oman. The agreement for the establishment of
the investment company was signed by Dr.
Salem Nasser Al Ismaily , CEO, OCIPED and
Dr. Mahdi Radwi, the Chief Executive officer
of Iran Foreign Investment Company.
Commenting the project Dr Salem stated that
the Omani Iran Joint Investment Company will
be another stone for economic and commercial
cooperation between Oman and Iran. The new
company is expected to play a major role in
increasing the economic cooperation and
trade exchange between the two friendly
countries. It will also benefit from the
investment opportunities available in both
countries, including industry, commerce,
real estate development, energy and
transportation. It is anticipated that the
new company will have a significant impact
on enhancing the cooperation between the
private sectors and investors from both the
countries.
In 2004, OCIPED established an economic
cooperation office in Bandar Abbas, to
provide commercial services to the business
communities and investors from both the
countries. The office also provides
information on the commercial and investment
opportunities, and coordinates with the
public sectors in both the countries. In
addition it also organized trade delegations
and followed up on many investment
opportunities and coordinated with the Omani
exporters to market their products in Iran.
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Oman Japan Business Forum’s Resounding
Success Generates New Business Ventures And
Partnerships
Muscat, November 2008 - The Oman Japan Business Forum held in November 2nd 2008 concluded with resounding success and achieved significant strides establishing novel business strategies to forge stronger economic partnerships between the two nations.
Organized by the Omani Center for Investment Promotion & Export Development (OCIPED), Oman Chamber of Commerce & Industry, Embassy of Japan and the Japan Economic Trade Organization (JETRO), the Forum witnessed unprecedented attendance of 54 participants representing 33 various companies in Japan and 100 local participants from different business sectors. Specialized business-to-business meetings were arranged to allow both Japanese and Omani companies to meet on an individual basis, network with key executives and explore businesses practices and prospects.
“I am delighted that the first step was
taken in achieving our policy objectives to
promote business relation between Japan and
the Sultanate of Oman through this forum. In
that context, I believe this forum was a
great success,” expressed H.E. Seiji
Morimoto, the Japanese Ambassador to the
Sultanate. “I have received positive
opinions from the Japanese participants who
found it helpful in starting specific
business dialogue with their counterparts.”
Nisreen Ahmed Jaffer, Director General of
Investment Promotion at OCIPED affirmed,
“This first-of-its-kind Forum is a tribute
to the long-standing economic relations
between Oman and Japan. The business to
business meetings provided a unique and
insightful opportunity for Japanese
executives to meet with Omani companies to
discuss new business ventures. It was
important for Japanese companies to gain a
better understanding of our stable national
economy and investments which serve mutual
benefits.”
She added, “There was a large degree of
optimism conveyed by delegates given the
number of infrastructural developments in
Oman to encourage substantial foreign direct
investment and a sense of security despite
the current global financial credit crisis.”
On behalf of the Japanese executives present
at the Forum, Kuni Funaki, Chief Executive
Officer of JETRO Dubai & MENA expressed,
“The Japanese delegation was very impressed
and satisfied with the information provided
by the Omani speakers at the Forum. The
visits to Omani Government dignitaries and
business groups augmented their experience
making the delegation’s visit more
fruitful.” He added, “I would like to thank
and congratulate all the supporters of the
Oman – Japan Business Forum and we hope to
continue such activities so that the
economic relationship between Oman and Japan
could be taken to even higher levels.”
Mike Parkes, Deputy General Manager of
Bahwan Trading Company and delegate who
attended the Forum said, “Continuing
advisory services provided by Japan to
Oman’s government institutions will lead to
an even better understanding and closer
relationship for economic benefit for both
countries.”
Key outcomes of the Forum included the need to sustain momentum by continuing to organize engaging business exchange programs in addition to focusing on new business sectors and promoting tourism to Oman in Japan.
Joint Venture firm “Majan Tameer”
established
- Non-Omani Gulf investors to own 70pc
- Main business to focus on real estate
Muscat – A new
company “Majan Tameer (construction)
company’ with RO40 Million-licensed capital
and RO25 million paid-up capital was
established at a cermoney held in Grand
Hyyat Muscat Hotel last night.
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Basha’ar Naser Al Tuwaijri,
chairman of the board of
directors of Majan Tameer
Company, said the non-Omani Gulf
investors would own 70 per cent
of the new company capital and
Omani investors the rest.
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Major stakeholders of Majan Tameer include
Gulf Investment House (50pc), the
Sultanate’s Ministry of Defence Pension Fund
(10pc), Sharjah Islamic Bank (10pc), Real
Estate Trading Company (10pc), and Public
Authority for Social Insurance (9pc), Oman
and Emirates Holding (5pc), Oman Cement
(4pc) and Pension Fund of the Royal Guard of
Oman (2pc).
“The main businesses will include purchase,
development, lease, sale of lands, property,
incorporation and management of real estate
funds inside and outside the Sultanate,
availing property management services,
providing real estate consultancy services
and incorporating new companies,” he said.
The establishment of Majan Construction
comes in response to the construction boom,
which is parallel to the economic growth
witnessed by the Sultanate. In 2006, the
real estate department contributed RO352
million to the Sultanate’s DGP, one of the
important factors that attracted
investments.
Basha’ar Al Tuwaijri said that the real
estate sector would witness more growth in
the coming period, with the value of demand
on real estate reaching RO8billion in 2010.
Badr bin Abdullah Al Ali, CEO of Gulf Investment House, said the company would strive to support the economic growth in the Gulf by establishing a number of investment companies in different sectors.
Al Ali hailed the positive role played by the government to attract investments with flexible laws to make the Sultanate a tourist and trade hub. - ONA
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OCIPED: Oman bags export order worth US$ 10 Million to Iraq
Ociped’s Participation In The International Boston
Seafood Show Held From 11-13 March 2007
At Boston, Usa
Omani Fish Exporters Expect Usd4 Million Order At The Us Seafood Show
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OCIPED in coordination with the Ministry of Agriculture and Fisheries had organized Omani fish exporters participation at the International seafood show held in Boston, USA from 11th to 13th March 2007.
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The Omani fish companies - Oman Fisheries, Al Bahihi fish Freezing company, Ideal Marine, Al Hamadi Fisheries and Asmak Quriat International who participated in the show had a very good response for all the products that were displayed such as Tuna, Tuna loins, lobsters, lobster tails, shrimps, groupers, sea breams and other dermesal species.Oman fisheries who were displaying value added products such as fish nuggets. Fish fingers, shrimp crispis, fish burgers etc had a good appeal from the sampling carried by them although the show.
The participants felt confident after having met many of the importers, distributors of fresh, frozen and value added seafood would result in substantial order generation to the tune of USD 4 Million.
The Omani exporters also had a fair exposure of the latest equipments, machineries and technology used for fish processing as well as different packing methods. The Omani pavilion attracted a lot of people who watched with keen interest the harvesting of tuna which was displayed on video by Asmak Quriat International.
Mr. Faris Al Farsi Actg Dir General of OCIPED and Ms. Nashwa Al Mazrooi Director of Quality Control at the Ministry of Agriculture and fisheries who were attending the show were upbeat about the outcome of Omani participation and hoped that the fish companies will follow up with the various leads generated at the show.
Mr. P. Ponnudurai, managing director of Lion Dates (India) is the largest importer of Omani dates. The company imports 5000 M.T of dates per annum from Oman, UAE and Tunisia. Mr. Ponnudurai, says that his company is very satisfied with the quality of Omani dates and has increased the import of Omani wet dates from 34 tons in 1996 to 800 tons in 2007. The managing director of Lion dates also mentioned that his company has grown in view of the huge potential in India. Mr. Ponnudurai, assured his strong patronage to Omani dates and sought the support and cooperation of Omani Dates industry.
OCIPED participated in a seminar organized by the OCCI
on 1st October 2005 in Nizwa on “Dates Marketing”.
Apart from officials from the Ministry of Commerce and
Industry, Ministry of Agriculture and Fisheries, many
Date Exporters and date farmers were present at the
meeting. Mr. Aiman Ambusaidi, Marketing Researcher at
OCIPED gave a presentation on Export Marketing of
Omani Dates.
In his paper he covered the world production and consumption of dates and the world trade of dates. He pointed out the opportunities available for the Sultanate to export its surplus date production. As a major market for Omani dates, he gave some awareness on the Indian market, which consumes 5% of the world dates production. Then he gave some strategic options on how to increase the export of Omani dates. At the end of his presentation Mr. Aiman introduced Mr. P. Ponnudurai, managing director of Lion Dates (India), the largest importer of Omani dates. The company imports 5000 M.T of dates per annum from Oman, Dubai and Tunisia. Mr. Ponnudurai, in his speech to the audience explained about his experience in importing Omani dates. He mentioned that his company is very satisfied with the quality of Omani dates and has increased the import of Omani wet dates from 34 tons in 1996 to 272 tons in 2004. The managing director of Lion dates also mentioned that his company has grown in view of the huge potential in India. The company has introduced many more products with dates and due to lack of dates supply from Oman the company was unable to fulfill the requirement of end users in India. He further added that his current requirement of Omani dates is around 540 ton per year, which is likely to increase in future. At the end of his speech, Mr. Ponnudurai, assured his strong patronage to Omani dates and sought the support and cooperation of Omani Dates industry.
Mr. Ponnudurai, of Lion Dates, India, placed orders for 540 M.T of Dates (30 containers) valued at US $ 675000 with two Omani Dates exporters.
After the Meeting some of the date suppliers appreciated the efforts taken by OCIPED by inviting the Dates importer for such seminars and expressed their willingness to supply adequate quantity of quality dates.
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Ociped’s Participation In The Anuga Food Exhibition In Germany From 13 To 17 October 2007
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Oman Cables bags US$ 5 million export order to Sudan
January 29, 2008
Mr. P. R. Ramakrishnan, General Manager (Sales & Marketing), Oman Cables Industry (SAOG) informed that OCI has been pursuing marketing of its power cables to Power Utility, Oil & Gas and EPC Segments in Sudan by regularly participating in Buyer-Seller meets organized by OCIPED and culminating out of this effort, OCI has received orders in excess of US$ 5 Million for exports to Sudan.
Sun Packaging gains additional business worth OR 450,000 from ANUGA Food Fair, Frankfurt
December 10, 2007
Mr. Dilip Shanbhag, General Manager, Sun Packaging Company, L.L.C., informed that by participating in the ANUGA Food Fair in Frankfurt, Germany, the company acquired new customers in Malta, Cyprus, Turkey and Senegal and secured orders for USD 250,000. He said Sun Packaging expected to gain additional business worth Rial Omani 450,000/- in 2008 and thanked OCIPED for facilitating this.
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