Sunday, 17 Nov 2019 | 20 Rabi Al Awwal 1441
Oman stands to benefit from China-Arab Belt and Road initiative: H E Fulong

Oman stands to advantage from China-Arab Belt and Road initiative: H E Fulong

China and Arab states had in-depth discussions on how to jointly advance the Belt and Road Initiative (BRI) and strengthen general cooperation with a view to drawing up a blueprint for the China-Arab relations in the new era.

 

In the subsequent 5 years, China will make an outbound investments of US$750bn worldwide and Oman is amongst the nations that will advantage from such investment.

“Arab countries, including Oman, should grasp these opportunities. Being strategically located, huge investments are ideal for Oman which will come from both the Chinese government and private sector,” H E Yu Fulong, China’s Ambassador to Oman, stated, whilst briefing the media about the ministerial meeting.

“This year marks the 40th anniversary of the establishment of diplomatic relations between China and Oman, which is an important event in the history of the development of relations between the two friendly countries. Oman has played an important role in the Belt and Road Initiative (BRI) due to its strategic geographical location in the region.”

The ambassador stated that the establishment of strategic partnership relations among Oman and China will constitute a robust political assure for the improvement of additional relations to safeguard the interests of regional and international problems, bringing the two countries’ relations to the highest level.

“China is ready to make joint efforts with Oman, taking mutual respect and common development as a goal to achieve and maintain world peace and to promote exchanges and deepen cooperation so as to enable China’s strategic partnership relations.”

He stated that Oman is a an appealing nation to foreign investment as it is characterised by a steady political scenario and legal program.

“In addition to having natural resources, Oman is currently implementing the Ninth Five-Year Plan and National Programme for Economic Diversification which is an ambitious programme launched for the foreign investors to invest in Oman.”

He added that Oman has taken numerous measures to facilitate the function of foreign businesses inside the sultanate, with a sophisticated investment law indicating that the volume of investments among Oman and China will improve in the coming years.

“The Omani and Chinese sides will type a joint operating group to go over methods of creating investment among the two nations.

“Chinese investment in the sultanate will not be limited to Duqm but will also include Muscat, Salalah, Sohar and other areas.”

H E Fulong stated that the scope of outcome-oriented company cooperation and individuals-to-individuals exchanges has kept developing to cover a wide variety of locations, which includes satellite launch and cotton production.

Information Source: Muscat Daily

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