Monday 28 / April / 2025
Muscat: The Ministry of Commerce, Industry, and Investment Promotion today concluded the first international investment forum, "Advantage Oman," with the signing of strategic investments that boost the Sultanate’s position as a promising investment destination.
Ibtisam Ahmed Al Farooji, Undersecretary of the Ministry of Commerce, Industry, and Investment Promotion for Investment Promotion, affirmed that the forum supported economic diversification and attracted high-quality investments aligned with Oman’s future vision.
She noted that the event provided a distinguished platform connecting local and international investors with thought leaders and economic experts, fostering the exchange of ideas and exploring promising growth opportunities.
She emphasised that the forum enabled participants to engage with public and private sector leaders, discuss key economic trends, and explore investment opportunities in vital sectors. The specialized panel discussions aimed to produce actionable recommendations, drawing from regional and global success stories.
She added that the forum featured bilateral meetings between investors and officials in economic sectors prioritized by Oman Vision 2040, which serves as a cornerstone for the Sultanate of Oman’s efforts to achieve growth and economic transformation in line with national objectives.
At the forum’s conclusion, JA Solar signed several agreements with Invest in Oman, Sohar Port and Freezone, and Majis Industrial Services to establish a solar cell and panel manufacturing plant. Spanning 32.5 hectares in the second phase of the free zone, the project is valued at RO 217.3 million.
Scheduled to commence operations in Q1 2026, the facility will have an annual production capacity of 6 GW of solar cells and 3 GW of solar panels.
This agreement advances Oman Vision 2040 by supporting the transition to renewable energy and economic diversification, alongside growing interest in opportunities within the free zone’s second phase.
Khalid Salim Al Qasabi, Director General of Industry at the Ministry of Commerce, Industry, and Investment Promotion, stated that the agreements to establish the solar manufacturing plant in Sohar Freezone reflect the ambitious goals of Oman’s Industrial Strategy 2040, which focuses on developing future industries and promoting value-added investments.
He added that renewable energy industries are a priority in the industrial strategy due to their role in creating promising opportunities to diversify the national economy, increase the industrial sector’s contribution to GDP, and enhance Oman’s energy mix.
The project, expected to begin operations in Q1 2026, will contribute to developing the clean energy value chain and attracting related industries, reinforcing Oman’s position as a regional hub for renewable energy and green industries.
The forum’s second day featured dialogue sessions with decision-makers, opportunities for strategic partnerships, investor success stories, and roundtable discussions in key sectors, including tourism, logistics, mining, food security, renewable energy, and IT.
—— Ends/AH
