Oman Seeks Enhanced Economic Relations with China via BRI
Oman has been involved in joint initiatives with China, focusing on logistics and trade as crucial elements of its economic diversification strategy. The country aims to enhance its cooperation with China as part of the Belt and Road Initiative.
TroibNews 
Oman, with its rich maritime history, maintains trade as a fundamental aspect of its economy, particularly emphasizing the enhancement of relations with China, according to Sayyid Marwan bin Turki al Said, the governor of Dhofar in Oman.
In an interview with China Media Group (CMG), he underscored Oman’s proactive participation in the Belt and Road Initiative.
**Synergy of BRI and Oman Vision 2040**
Oman is engaged in various programs with China to revitalize the ancient Silk Road, placing logistics and trade at the forefront of its economic diversification strategy.
"The relations Oman has with different nations was built around that Silk Road," he stated. "Oman was very supportive, and is already in a program with China, to really revive and work on that route."
According to the governor, these initiatives will benefit not only Omani products and investments but also the various sectors involved.
These efforts are in line with Oman Vision 2040, a national strategy focused on further diversifying the nation’s economy.
By concentrating on these critical areas, Oman aims to foster a resilient and varied economy capable of thriving in the global marketplace, with significant international collaborations, particularly with China, being vital to achieving its goals.
**Competitive Edge and Opportunities**
The Dhofar governorate, a key contributor to Vision 2040, is concentrated on the advancement of the Salalah Free Zone and Salalah Port, with the goal of drawing foreign investment and bolstering logistics, trade, and related industries.
"We are working to attract more investment in the petrochemical and food sectors, as well as in gypsum mining, where raw materials are readily available in the region," explained Ahmed Mohammed Qattan, senior business development manager of Salalah Free Zone, to CMG.
He detailed the host of incentives provided by the free zone, such as a 30-year tax exemption, 100 percent foreign ownership, and comprehensive services. Most importantly, he pointed out that Oman's prime geographical position and stable social environment significantly enhance investor confidence.
The manager further emphasized that the overall progress of the Gulf region serves as a considerable advantage for Oman. He conveyed optimism that Oman can distinguish itself due to its geographical closeness to Africa and competitive pricing.
**Cooperation Ahead**
China and Oman have initiated various collaborative projects, with bilateral trade witnessing an eight percent increase in the first five months of 2024 compared to the same timeframe in 2023, exceeding $15 billion.
At the Port of Salalah, officials noted that some infrastructure was sourced from China. There’s anticipation for deeper collaboration with China under the Belt and Road Initiative.
Highlighting China as its primary trade partner, the governor emphasized that Oman aims to utilize its geographic position to become a vital hub in the Belt and Road Initiative, further strengthening bilateral trade relations.
Camille Lefevre contributed to this report for TROIB News
In an interview with China Media Group (CMG), he underscored Oman’s proactive participation in the Belt and Road Initiative.
**Synergy of BRI and Oman Vision 2040**
Oman is engaged in various programs with China to revitalize the ancient Silk Road, placing logistics and trade at the forefront of its economic diversification strategy.
"The relations Oman has with different nations was built around that Silk Road," he stated. "Oman was very supportive, and is already in a program with China, to really revive and work on that route."
According to the governor, these initiatives will benefit not only Omani products and investments but also the various sectors involved.
These efforts are in line with Oman Vision 2040, a national strategy focused on further diversifying the nation’s economy.
By concentrating on these critical areas, Oman aims to foster a resilient and varied economy capable of thriving in the global marketplace, with significant international collaborations, particularly with China, being vital to achieving its goals.
**Competitive Edge and Opportunities**
The Dhofar governorate, a key contributor to Vision 2040, is concentrated on the advancement of the Salalah Free Zone and Salalah Port, with the goal of drawing foreign investment and bolstering logistics, trade, and related industries.
"We are working to attract more investment in the petrochemical and food sectors, as well as in gypsum mining, where raw materials are readily available in the region," explained Ahmed Mohammed Qattan, senior business development manager of Salalah Free Zone, to CMG.
He detailed the host of incentives provided by the free zone, such as a 30-year tax exemption, 100 percent foreign ownership, and comprehensive services. Most importantly, he pointed out that Oman's prime geographical position and stable social environment significantly enhance investor confidence.
The manager further emphasized that the overall progress of the Gulf region serves as a considerable advantage for Oman. He conveyed optimism that Oman can distinguish itself due to its geographical closeness to Africa and competitive pricing.
**Cooperation Ahead**
China and Oman have initiated various collaborative projects, with bilateral trade witnessing an eight percent increase in the first five months of 2024 compared to the same timeframe in 2023, exceeding $15 billion.
At the Port of Salalah, officials noted that some infrastructure was sourced from China. There’s anticipation for deeper collaboration with China under the Belt and Road Initiative.
Highlighting China as its primary trade partner, the governor emphasized that Oman aims to utilize its geographic position to become a vital hub in the Belt and Road Initiative, further strengthening bilateral trade relations.
Camille Lefevre contributed to this report for TROIB News
