Madayn, Chinese firm sign MoU to foster cooperation and promote investments

Muscat: The Public Establishment for Industrial Estates – Madayn has inked a Memorandum of Understanding (MoU) with Shandong Shanzuo Holding Group Co. Ltd. in the People’s Republic of China to develop and promote strategic cooperation in diverse areas that serve the interests of the two sides.

The MoU was signed remotely by Hilal bin Hamad Al Hasani, CEO of Madayn, and Lillian Shi, CEO of Shandong Shanzuo Holding Group Co., in the presence of Warda Al Shaqsi, Deputy Head of the Sultanate of Oman’s mission in China.

The MoU focuses on mutual promotion to encourage investments in both countries and establish projects that contribute to achieving economic growth. It also aspires to boost cooperation in import and export activities between Oman and China, provide support in carrying out related commercial businesses, as well as ensure the provision of administrative and logistical support for the businesses.

As per the agreement, Shanzuo Group will provide Madayn with free of a charge display area in the Demonstration Park for advertising and promoting Madayn’s investments, office space for Madayn in Hanyu Gold Valley, market consultation services for Madayn in China, and encouraging Chinese companies to invest in Oman. Shanzuo Group will also promote Madayn and its brand to the Chinese companies and market, and recommend expert teams to handle other commercial services that Madayn requires in China.