GCC Friendly Policies: How Oman’s Ideal Conditions Can Boost Your Business Potential
Muscat: Hong Kong is eager to engage in investment and collaboration with Gulf Cooperation Council (GCC) countries, particularly focusing on alternative energy initiatives in the Sultanate of Oman.
In an interview with the Observer, Alpha Lau, Director-General of Investment at Invest Hong Kong, emphasized the favorable policies in place for Chinese businesses looking to enter these markets. During the FinTech Week x StartmeupHK Festival, she noted the growing interest among Middle Eastern nations to establish more industries and develop their national workforce, presenting ample opportunities for partnership.
King Leung, head of fintech and sustainability, remarked that Oman is an attractive location for manufacturing. He aims to encourage mainland Chinese companies to establish international headquarters in Hong Kong and tap into the GCC markets for global business expansion.
During the summit, speakers highlighted that around 75% of Hong Kong’s financial institutions have either implemented or are testing generative AI technologies, with aspirations to increase this figure to over 87% within the next three to five years.
Predictions indicate a significant rise in the adoption of generative AI, impacting everything from customer-facing AI account management to enhanced tokenisation for real-time global settlements. Leaders from HSBC and Standard Chartered showcased Hong Kong’s advancements in financial innovation, including tokenised deposits and one of the largest tokenised gold products globally, alongside successful blockchain settlement initiatives. The city’s “Connect” schemes are expanding into markets like the Middle East and Southeast Asia, reinforcing its status as a leading international financial center and fintech hub.
Market experts also discussed the increasing prominence of stablecoins, highlighting their potential to facilitate 24/7 trading and streamlined collateralisation, which can enhance operational efficiency in sectors like asset management. While they acknowledged the advantages of stablecoins for continuous trading and access to on-chain assets, they stressed the critical need for regulatory compliance.
Moreover, multinational institutions and corporations will face ongoing challenges around interoperability as they adopt technologies such as blockchain and stablecoins. Looking towards 2026, a significant increase in liquidity within the digital assets market is anticipated, driven by various advancements in digital currency.
Special Analysis by Omanet | Navigate Oman’s Market
The growing interest from Hong Kong in alternative energy investments in Oman presents a significant opportunity for local businesses to form strategic partnerships and enhance their industrial capabilities. As Oman seeks to develop its workforce and diversify its economy, smart investors should consider collaborating with Chinese firms to leverage technological advancements and innovative practices in sustainable development. However, the shift towards generative AI and digital asset markets signals risks as well, particularly concerning regulatory compliance and technological interoperability that businesses must navigate.
