Oman and France Enhance Private Sector Ties: Impact on Business Opportunities and Investments
MUSCAT: Nicolas Forissier, France’s Minister Delegate for Foreign Trade, recently visited the Oman Chamber of Commerce and Industry (OCCI) headquarters in Muscat. He was warmly welcomed by Shaikh Faisal bin Abdullah al Rawas, the Chairman of OCCI.
The meeting included several OCCI board members, representatives from the Oman–France Joint Business Council, and distinguished business leaders from both nations. It was part of ongoing efforts to enhance economic cooperation and expand partnership opportunities between the private sectors of Oman and France.
Discussions focused on the intentions of French companies to increase their investments in Oman, investigate new opportunities in strategic projects, and explore mechanisms to bolster Omani exports to the French market.
Emphasis was placed on the Oman–France Joint Business Council’s role in fostering communication between business communities, facilitating direct meetings, and exchanging information and investment opportunities. Both parties recognized the importance of developing the Council’s programs and activating sector-based working groups to expedite joint projects and boost bilateral trade.
Al Rawas underscored that Omani–French relations have flourished over several decades, marked by open and constructive dialogue. These enduring ties have led to robust collaboration in trade, investment, energy, transport, ports, manufacturing, and technology, as well as cultural and knowledge exchanges.
He articulated that the private sectors in both countries are poised to enhance economic relations significantly, especially as Oman provides an attractive investment climate characterized by stability, strategic location, logistical advantages, and business-friendly regulations. Furthermore, he noted that French companies bring world-class expertise that aligns with key sectors outlined in Oman Vision 2040, such as renewable energy, advanced manufacturing, the circular economy, innovation, and tourism.
Forissier emphasized the need to fortify bilateral economic relations, expressing the eagerness of French companies to broaden their presence in Oman and seize investment opportunities in line with the economic priorities of both nations. The meeting also highlighted the various capabilities of French companies across sectors.
Special Analysis by Omanet | Navigate Oman’s Market
The recent meeting between Oman and France underscores significant opportunities for businesses in Oman, particularly in sectors aligned with Oman Vision 2040, such as renewable energy and advanced manufacturing. However, this also poses a risk of increased competition as French companies bring world-class expertise, necessitating Omani firms to innovate and adapt rapidly. Smart investors should act now to leverage these developments, focusing on strategic partnerships and enhancing their capabilities to capitalize on the growing bilateral trade landscape.
