Malaysian Firms Urged To Seize Investment Opportunities In Oman

By Zainal Abdul Jalil MUSCAT (Oman), Oct 8 (Bernama) -- Malaysian companies have been urged to take advantage of the good bilateral relationship between Oman and Malaysia, and the Oman government’s readiness in welcoming foreign investors, especially with the opening of the Free Trade Zone in Duqm. Malaysian Ambassador to Oman, Sharil Affendi Abd Ghany said for the past two years, the Oman government has been aggressive in attracting investments in high technology industries, especially in petrochemicals, hydrocarbon and oil and gas (O&G). To date, only companies from China have invested US$10 billion in the Duqm Free Trade Zone, he said. “The Oman government targets to attract investments from United Kingdom, the United States and other Islamic countries,” he said when met at the Muscat International Airport Sunday night. He was there to meet with the Raja Muda of Perlis, Tuanku Syed Faizuddin Putra Jamalullail who was there on a working visit. Sharil Affendi said based on the Oman government’s plans, he was confident that Duqm will become a top economic zone in West Asia within the next 10 to 15 years, as it offered investment opportunities where the foreign investor controls 100 per cent of the investment without needing participation from local investors. He said Oman had opened its doors under Sultan Qaboos bin Saeed’s reign, and the country had taken a progressive approach to transform itself into a developed nation. Meanwhile, Sharil Affendi said the good bilateral relationship between Malaysia and Oman is apparent as many Malaysians are currently employed in Oman, including in the country’s airline industry, the O&G sector and many other semi-professional fields. At the same time, he said, about 900 Omani nationals are studying for their Masters and Doctorate degrees in Malaysia. “The students chose our country because we offer many advantages such as the use of English as a language, the low cost of living and education and Malaysian universities offer courses which are internationally recognised. “Additionally, about 30,000 Omani nationals visit Malaysia annually. Although this is not a big number, they spend a lot as they tend to stay for a month in Malaysia,” he added. -- BERNAMA