First International Investment Forum "Advantage Oman" launched

Muscat: His Highness Sayyid Shihab bin Tarik Al Said, Deputy Prime Minister for Defence Affairs, sponsored the launch of the First International Investment Forum "Advantage Oman" organised by the Ministry of Commerce, Industry and Investment Promotion at the St. Regis Al Mouj Resort in Muscat.

The two-day event, which is being held with the participation of more than 250 senior officials, decision-makers, and regional and international investors, highlights the Sultanate of Oman as a promising investment destination.

In his opening speech , His Excellency Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, emphasised that organising the International Investment Forum is the first of its kind in the Sultanate of Oman and a strategic event that attracts prominent decision-makers, leaders, businessmen, and investors from various countries and across various promising sectors. This is in light of the remarkable growth the Sultanate of Oman has witnessed and is witnessing across various economic and investment sectors, supported by rising international indicators.

In his speech, His Excellency noted that the timing of the forum comes at a time when the Sultanate of Oman is witnessing increasing momentum in its economic and investment sectors. The Sultanate of Oman witnessed a significant increase in foreign direct investment flows of 16.2 percent in the third quarter of 2024 compared to the same period in 2023. The Sultanate's credit rating was also raised to BBB- with a stable outlook by Standard & Poor's.

His Excellency the Minister of Commerce, Industry and Investment Promotion stated that the gross domestic product is expected to grow by 3.4 percent this year, outperforming the performance of many economies around the world, reflecting the strength of the national economy and the confidence of global markets.

The first day of the forum featured five main sessions addressing the most prominent global economic trends. The first session discussed the future, anticipating major transformations, and the impact of advanced technologies such as artificial intelligence, climate technologies, and hyper-connectivity on the global economy. It focused on the need to embrace innovation and sustainability as pillars of competitiveness in an ever-changing world.

The second session, titled "The Equation of Risk and Opportunity in a Changing World," addressed the importance of taking calculated risks as key to organizational success. It highlighted the culture of risk-taking and the role of psychological safety, and showcased examples of organisations that have achieved success through bold decisions in times of change.

The third session, titled "Decisions in the Business World - Environmental Challenges and Corporate Responsibility," discussed corporate responsibility towards climate change and biodiversity loss. It proposed solutions such as the circular economy and green technologies, emphasising the importance of public-private cooperation to preserve the environment.

The fourth session reviewed creative leadership in a rapidly changing world and how leadership can transcend traditional approaches by adopting an artist's mindset—bold and non-linear—with real-life examples of organizations that have reinvented themselves through creativity. His Highness Sayyid Shihab bin Tarik Al Said, Deputy Prime Minister for Defence Affairs, toured the exhibition accompanying the forum, which featured the participation of several government agencies and private sector institutions.

The fifth session addressed the importance of storytelling in building trust and brand loyalty, and how organisations can transform data and values into narratives that reach audiences and leave a lasting impact. The second day of the forum will include dialogue sessions with decision-makers, opening channels of communication with investors and building quality partnerships, presenting an investor's success story, signing new investment partnerships, and holding specialised roundtables in a number of priority sectors, such as tourism, logistics, mining, food security, renewable energy, and information technology.