Omani-Austrian Business Forum to Intensify Economic Cooperation

Omani-Austrian Business Forum to Intensify Economic Cooperation

The Omani-Austrian Business Forum discussed ways to enhance cooperation in various sectors, including tourism, industry, construction, infrastructure, information technology and medical education.

The meeting was organized by Oman Chamber of Commerce and Industry (OCCI) in cooperation with the Ministry of Commerce, Industry and Investment Promotion today in Muscat. It also reviewed incentives and investment opportunities in the Sultanate of Oman.

Faisal Abdullah Al Rawas, Chairman of OCCI Board of Directors, said that the forum focused on new projects that the Omani and Austrian sides could undertake jointly to augment the volume of investment and commercial exchange between the two friendly countries.

Al Rawas pointed out that Oman Vision 2040 contemplates investment opportunities in various fields like tourism, industry and food security. The future approaches encourage Austrian companies to utilize available opportunities and incentives that Oman extends to investors, notably at special economic zones, free zones and industrial cities, he said.

Dr. Martin Kocher, Federal Minister of Labour and Economy of the Republic of Austria, commended the depth of bilateral relations.

Dr. Kocher stressed the need to expand economic cooperation between the two countries to raise the volume of trade and investment exchange.

The Austrian Minister outlined various investment and economic opportunities that, he said, could be utilized in the fields of industry, green hydrogen and tourism. He pointed out that Oman espouses an ambitious vision in this field and at the same time there is a demand for importing hydrogen into Austria, he added.

The forum included a visual presentation on the most prominent components of the investment, tourism and economic environment in Oman, as well as incentives extended to investors in various sectors.

The forum also provided grounds for meetings between Omani business owners and their Austrian counterparts. The meeting aimed at consolidating cooperation, developing trade relations, exchanging experiences and information and exploring joint cooperation opportunities.