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4th Quarter 2007
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Economy |
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Oman wins Second Economic Freedom Award at the Arab World
Conference
 Oman
received recognition for the "Top Achievement in Economic
Freedom" for its accomplishments in the overall level of
economic freedom. On November 22 at the Movenpick Hotel in
Jordan, Arab countries that have made the most progress in
providing their citizens with economic freedom were honoured
during an awards ceremony hosted by the International Research
Foundation (IRF) from Oman in association with The Fraser
Institute. The Economic Freedom of the Arab World awards were
based on the Economic Freedom of the Arab World report which
measures economic freedom in the Arab nations.
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Banking |
Infrastructure |
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Stable Outlook
Oman’s stable outlook reflects good financial performance in
an improving but challenging operating environment, says Moody’s
Investor Service in its report ‘Oman – Banking System Outlook’.
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The Blue
City takes off
With the ground breaking of phase I of Al Madina A’Zarqa
(The Blue City), US$20-billion real estate project at Al
Sawadi, Oman’s tourism landscape is set for a major change.
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News In Brief |
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 Muriya’s twin projects unveiled
Two more prestigious projects, ‘Jebel Sifah’ in the capital
governorate and ‘Salalah Beach’ in the southern Dhofar region,
are expected to add more lustre to Oman’s burgeoning tourism and
real estate sectors. The two integrated tourism complexes, which
will comprise a total of 550 villas and 1,200 apartments when
the first phase is completed in five years, are taking shape as
a result of a public-private sector initiative.
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GIPI manufacturing facility at Sohar
Gulf International Pipe Industry LLC (GIPI) has inked US$80
million credit facilities agreement with regional and local
banks for setting-up a world class high pressure carbon steel
pipe and casing complex in Sohar.
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Extension of
Sohar Industrial Port
Sohar Industrial Port’s concession area of 2,000 hectares
has been extended to over 6,000 hectares. The concession period
has been extended up to 2043.
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GIH acquires majority stake in
Al Jazeera Steel
Kuwait-based Global Investment House’s Global Buyout Fund
has concluded its first investment in Al Jazeera Steel Product
Company, an Omani company listed on the Muscat Securities
Market.
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Oman to
participate in Boston Seafood Show Following the successful participation at the International
Boston Seafood Show 2007, the Omani Centre for Investment
Promotion and Export Development (OCIPED) in coordination
with the Directorate General of Fisheries, Ministry of
Fisheries will be participating in the International Boston
Seafood Show to be held during 24-26 February 2008 at
Boston, USA.
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OCIPED’s
Buyer-Seller meet at Khartoum, Sudan
Sudan market offers enormous potential for Omani products.
Exports from the Sultanate of Oman to Sudan touched US$ 30
million in 2006 as against US$ 844,000 in 2001 registering
an impressive compounded annual growth rate (CAGR) of 104%.
There is enough potential for further growth.
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For further details
and information on Al Mihwar, please contact:
The Omani Centre for Investment Promotion and Export Development (OCIPED)
PO Box 25, Wadi Kabir PC 117
Sultanate of Oman
Tel - (968) 24812344, Fax : (968) 24810890 Email -
info@ociped.com
For Investment Inquires - invest@ociped.com |
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Al Mihwar is
prepared each quarter by Oman Economic Review, the
Sultanate's leading business magazine. For further
information on articles in this issue, please refer to
issues of OER or visit
www.oeronline.com |
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