Pakistanis Invited to Invest in Oman:
Karachi: Oman Chamber of Commerce and Industry chairman Redha Jummah Muhammad Ali-Al Saleh has said that under the Vision of 2040, his country will be working in five different sectors, namely logistics, mining, tourism, food security, and Industrial Growth and Pakistan will be able to join it in these areas.
Oman is open for foreign investment as under the new rules, investors will now be able to invest 100 percent capital with no need to have a local partner but it is however better to have a local partner who would help with setting up the business. Leading a 20-member Omani delegation to Pakistan, Mr. Saleh also noted that the taxes were in Oman were much lower with tax holidays for up to five years.
Recently Oman has also opened up a road to Saudi Arabia which has helped with reducing the distance, cost, and time and ultimately help with opening up business opportunities in Oman.
While he admitted that obtaining an Omani Visa is no easy task, however, he said that the Omani Embassy in Pakistan along with the OCCI was working seriously towards making it easier. Oman is ready to assist any Pakistani Businessman in getting a Visa with a view to making your visit easier. He also noted that despite having cordial relations the trade volumes were constantly declining which needed immediate focus. Before the Covid-19 Pandemic, the trade volume stood at a solid $655 million but it came down to $250 million.
Chairman BMG Zubair Motiwala said that the biggest booster for Trade was regional cooperation and regional connectivity instead of cross-border trade. He remarked that we needed to supplement and complement each other by undertaking joint ventures and sharing expertise.
Senior Vice President KCCI Abdul Rehman Naqi said that there were a number of commodities for which the two countries could enhance the trade including semi-milled and wholly-milled rice, tents for textile materials, fresh fruit like mangoes, guava, onions, shallots, fresh or chilled potatoes, etc.