Wednesday, 13 Nov 2019 | 16 Rabi Al Awwal 1441
Oman, India discuss ways to boost economic relations

Oman, India go over methods to increase financial relations

From the Omani side, the meeting was chaired by H E Dr Ali bin Masoud bin Ali al Sunaidy, Minister of Commerce and Industry. The Indian side was headed by Suresh Prabhu, Minister of Commerce and Industry, and Civil Aviation, who is at present going to the sultanate with a quantity of officials and businessmen from India.

During the meeting, the Indian side was briefed on the procedural measures taken by Oman by means of the ‘Invest Easy’ portal to facilitate financial and investment activities and to introduce the activities organised as per the World Trade Organization’s Agreement on Trade-Related Investment Measures to which foreign investors are entitled to invest 100 per cent. In this regard, Indian businessmen had been invited to invest in the promising investment sectors such as well being, power, renewable and infrastructure projects incorporated in the ninth 5-year program, specifically in the free of charge zones of Duqm, Salalah and Sohar.

The meeting also focused on the possibilities in the mining sector in Oman with the possibility of benefiting from some of the productive Indian experiences and the encounter of the Indian side in establishing industries connected to the ICT sector such as applications, electronic solutions and computer software.

H E Dr Sunaidy mentioned that the meeting was extremely essential, exactly where they discussed new places of cooperation and viewed the development of trade exchange in between Oman and India, according to statistics of 2016 and 2017. The problem of facilitating the transit of vegetables and fruits consignments from the Indian ports to Oman and dealing straight with Indian organizations to permit their speedy transfer was discussed. The meeting also addressed the problems connected to power and clean power.

H E Dr Sunaidy pointed out that the existing session focuses on tiny and medium enterprises and enterprise accelerators, specifically that the sultanate and India have programmes that accommodate entrepreneurs from each the sides.

Information Source: Muscat Daily

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