Built to inform

Sign up for the daily newsletters

No, Thank you

Chinese construction firms eye investment in Oman

Pipe and machinery production, energy and mining may be targeted

The production of construction machinery is one of the areas that interests the Chinese firms.
The production of construction machinery is one of the areas that interests the Chinese firms.

Oman is attracting interest as an investment destination for pipe manufacturing, construction machinery production, energy and mining from three Chinese companies.

Bright Oceans Corporation, Ningxia Qinlong Pipes Industry Co Ltd, and Sany Heavy Industry are said to be eyeing the sultanate after meeting Oman’s delegation at October’s China–Arab States Economic & Trade Forum.

Initial discussions at the event were deemed a success by all parties, according to a statement from the Public Authority for Investment Promotion and Export Development (Paiped).

Oman’s free zones, strategic geographic location and international trade and investment policies were of particular interest to the companies, it added.

Nisreen Jaffar, consultant at the Public Authority for Investment Promotion and Export Development (Paiped), said: “Paiped is working on updating a five-year investment promotion strategy for the sultanate that identifies priority sectors and target markets. Our current focus is on building investor relations and highlighting Oman’s business climate, laws, procedures and key projects, as well as introducing international investors to potential local partners.”

Jaffar highlighted Oman’s long history of trade with China; a relationship that grew from $55.4m in foreign direct investment in 2007 to $60.5m in 2011.

“Seeing new potential for inward investment is promising and demonstrates how important international trade shows are for positioning the sultanate as a business destination,” Jaffar said.

With China’s unprecedented growth in the last decade, its trade with the Gulf Cooperation Council (GCC) has increased significantly. China’s government has plans to further increase outward investments by another 17% by the end of 2014, with Oman hopeful of attracting some of that investment.

Most popular

Awards

Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week Middle East 11th Jan 2020
Jan 16, 2020