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Oman invites investors to form JVs in Salalah zone

ISLAMABAD:

Oman wants to boost bilateral trade and economic relations with Pakistan, as the current trade between the two countries does not reflect its true potential, said Ambassador of Oman to Pakistan Sheikh Mohammed Omar Ahmed Al-Marhoon.
Talking to the business community on Monday, the envoy said that Pakistani goods had huge potential to penetrate into the markets of Oman.
He was of the view that peace in Afghanistan would create new trade opportunities for Central Asia and Arab countries through Gwadar and Salalah ports, which would also strengthen economic ties between Pakistan and Oman.
Pointing out that various Pakistani products were being branded in other countries, the envoy suggested that Pakistan should do the branding of its products and export directly to achieve better results for its economy.
He invited Pakistani investors to explore opportunities of joint ventures and investment in the Salalah Free Zone.
“Salalah Free Zone offers incentives including a 30-year tax holiday, zero value-added tax (VAT), customs duty exemptions, 100% foreign ownership, one-stop shop and no minimum capital requirement.”
Assuring the embassy’s cooperation in enhancing Pakistan’s exports to Oman, the envoy said that chambers of commerce of both countries should play a role in promoting bilateral trade of quality products.
“Exchanging trade missions is very important to improve trade relations between the two countries,” he added.
On the occasion, Islamabad Chamber of Commerce and Industry (ICCI) Senior Vice President Jamshaid Akhtar Sheikh highlighted trade, tourism, oil and gas exploration, ports, agriculture, construction, healthcare and education as potential areas of mutual cooperation.
Published in The Express Tribune, October 12th, 2021.
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